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Here is the link to the report ...
https://files.constantcontact.com/19b93b72501/820e7e89-f023-48fd-aaaa-f531bfa718a4.pdf
May 26, 2021 - KRC Insights put out a Q2 Update on Microbix. The following is KRC's summary and below is the link for the full report.
FQ2/21: Despite strong results and strategic benefit of capital raise, valuation gap widening presents excellent entry opportunity. Reducing target to $1.80 (from $2.00) to account for equity offering.
Quarter confirmed revenue growth – 51.5% YoY revenue growth.
Margins holding up at 59.87% driving EBITDA margin of 29.6%.
VTM (largest forecast variable): management expanding capacity now in anticipation of additional orders from Gov't of Ontario and those from 3rd parties .
Equity raise removes balance sheet risk. Budgeted facility upgrades and capacity expansion (QAPs and VTM) positions company to bid on new business immediately.
Shares trading at lowest multiple vs peers. It appears that investors are waiting for something while the story is unfolding in front of them.
Lowered tgt to $1.80 (from $2.00) to account to additional shares in issue, but confidence in MBX has increased as now fully funded.
KRC Insights’ Bruce Krugel has been an active participant in the Canadian small cap equity market for more than two decades, having worked as both an equity research analyst and an institutional equity salesperson. He has broad experience in providing capital markets advisory services, research reports, identifying and executing on trade ideas, marketing companies and raising capital. The combination of these skills allows him to provide a differentiated offer that clients have found very useful.
Microbix Biosystems wins price target raise at Industrial Alliance
Canadian biotech company Microbix Biosystems (Microbix Biosystems Stock Quote, Chart, News, Analysts, Financials TSX:MBX) has received a big target raise from iA Capital Markets analyst Chelsea Stellick on Wednesday after the analyst reviewed MBX’s latest quarterly numbers. In a research report to clients, Stellick said further automation of its COVID-19 testing business makes up only a part of the company’s compelling growth trajectory.
Mississauga-based Microbix makes critical biological materials for the diagnostics industry including antigens for immunoassays and test quality assessment products (QAPs), and it also has a partnered asset in Kinlytic urokinase a clot-busting drug.
Microbix on May 13 announced its second quarter fiscal 2021 results for the period ended March 31, 2021. The company’s revenue was up 51 per cent year-over-year to a record $4.4 million, as sales of its QAPs rose 251 per cent to $1.5 million and accounted for 34 per cent of total sales, as the uptake of Microbix’s COVID-19-related QAPs strengthened. Antigen revenue was up seven per cent year-over-year to $2.5 million. The company’s new viral transport medium (VTM), branded DxTM, also contributed to the quarterly private-sector sales figures at $255,000.
The company said it will keep growing sales over the rest of fiscal 2021 with expected positive results in net earnings, noting in particular the Province of Ontario’s $4.3-million order for DxTM which will be delivered during the company’s fiscal third and fourth quarters.
“For the balance of fiscal 2021, Microbix will work to building sales across all of its three revenue-generating business lines, continue improving percentage gross margins and driving its bottom-line results. If Microbix achieves its budget targets, the company will generate meaningful net earnings for fiscal 2021. Additionally, work continues upon securing a partnership to advance its Kinlytic urokinase project,” the company said in a press release.
Microbix’s share price had been flat for a number of years running up until this past September when it started climbing out of its $0.30 range and reached $0.60 by this past February. But Stellick sees much more upside, calling MBX a “Buy” (unchanged) with a 12-month target of $1.80 (previously $0.90).
Stellick labelled MBX’s fiscal Q2 a strong beat, with the $4.4-million topline beating the analyst’s forecast of $3.8 million. Stellick noted the improved gross margin rising to 60 per cent due to growth in its QAP business, VTM sales, antigen sales and bioreactor production. Relatedly, MBX’s operating expenses increased only by 17 per cent on the stronger Canadian dollar, Stellick said.
“Microbix is gaining momentum with its efforts to support COVID-19 molecular testing already bearing fruit in QAPs and now in DxTM. MBX continues to execute, beating estimates and posting record revenue and net profit in Q2/F21. MBX has a compelling growth trajectory, materially enhanced through automation and capacity expansion which is enabled by the recent equity raise. We have layered in the VTM segment based on well-justified optimism regarding MBX’s broad-based growth and recent success, among other factors, and we increase our target price to $1.80/share (previously $0.90/share) according to our blended EV/EBITDA and EV/Revenue valuation,” Stellick wrote.
Microbix announced on Wednesday the closing of two private placements, one a bought deal offer of about 9.6 million shares at $0.60 per share for gross proceeds of $5.75 million including over-allotment and the other a non-brokered private placement of about 1.9 million share-and-half-a-warrant units for gross proceeds of $1.15 million including over-allotment.
The company said the funds will go towards expanding capacity and automating production of VTM and QAPs, for digitizing quality control processes, upgrading and expanding facilities and developing new products and quality control testing.
Stellick said MBX’s currently high-flying VTM and QAP businesses likely won’t be confined to the pandemic, however, arguing that diagnostic testing has long been overdue for an increased emphasis in healthcare systems worldwide, given its cost effectiveness and minimal budget impact. Moreover, COVID-19 has brought about large capital expenditures to scale diagnostic testing, with the increased molecular testing capacity to largely be maintained post-pandemic, Stellick said, as governments look to make use of their capacities for other tests.
“We believe these fast-growing segments will continue to find demand post-pandemic as the testing capacity that has been built for COVID-19 is repurposed toward other diagnostic testing that will require QAPs and VTM. Therefore, we have added ongoing sales of VTM into the MBX valuation,” Stellick wrote.
After reassessing her forecast, Stellick is now calling for MBX to generate full fiscal 2021 revenue of $21.4 million (previously $18.3 million) and EBITDA of $5.6 million (previously $3.3 million). For fiscal 2022, she is estimating $35.5 million in revenue (previously $19.4 million) and $11.6 million in EBITDA (previously $3.4 million).
About The Author / Nick Waddell
https://www.cantechletter.com/2021/05/microbix-biosystems-wins-price-target-raise-at-industrial-alliance/
IA analysts upgrade price target today t0 $1.80 12 month target...
In Adelaide Capital's digital newsletter today, CEO mentioned that IA analysts had increased their 12 month price target to $1.80 (from .90), based on the way that Microbix was executing on their stated strategy.
Microbix segment is from about the 18 minute mark til 25 minutes, the upgrade is mentioned at about 20:45
Microbix Announces Closing of Offering and Private Placement
$6.9 Million of Gross Proceeds Received
MISSISSAUGA, May 19, 2021 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, announces it has closed its previously-announced bought-deal public offering (the “Offering”) and concurrent private placement (the “Placement”).
The co-lead bookrunners and underwriters of the Offering, iA Private Wealth Inc. and Bloom Burton Securities Inc. (the “Underwriters”), have purchased the full Offering, including all of the 15% overallotment option, for a total of 9,583,334 units (“Units”), at a price of $0.60 per Unit for aggregate gross proceeds of $5,750,000. The Company also closed its concurrent Placement of 1,916,666 Units for gross proceeds of $1,150,000, also upsized by 15% from the previously announced $1,000,000.
Each Unit is comprised of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant being a "Warrant"). Each Warrant is exercisable to acquire one common share (a "Warrant Share") for a period of 24 months following the closing date of the Offering at an exercise price of $0.80 per Warrant Share, subject to adjustment in certain events.
The Company paid the Underwriters a cash commission equal to 7.0% of the gross proceeds of the Offering and has issued 670,833 underwriters’ warrants (the “Underwriters’ Warrants”). Each Underwriters’ Warrant is exercisable for one Common Share at $0.60 per Common Share for a period of 24 months following the closing of the Offering. No underwriting fees or commissions were paid in relation to the Placement.
Gross proceeds from the Offering and the Placement totaled $6,900,000. Net proceeds from the Offering and Placement are expected to be approximately $6,150,000 after fees and expenses. The net proceeds from the Offering will be used primarily towards expansion-related initiatives, while those of the Placement will be directed to general corporate purposes.
Directors and officers of Microbix (collectively, the “Insiders”) participated in the Offering for 708,333 Units ($425,000) and in the Placement for 685,000 Units ($411,000). Participation of Insiders in the Placement constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and the policies of the TSX. Microbix is relying on the exemptions from the formal valuation and minority approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the Placement by Insiders will not exceed 25% of the fair market value of its market capitalization. Microbix did not file a material change report at least 21 days prior to the completion of the Placement since the existence of any Placement or Insiders’ participation therein was not determined at that time.
The securities offered have not been, nor will they be, registered under the US Securities Act, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
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About Microbix Biosystems
Microbix develops proprietary biological technology solutions for human health and well-being, with about 90 skilled employees and sales growing from a base of over $1 million per month. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Microbix antigens enable the antibody tests of over 100 international diagnostics companies, while its QAPs are sold to clinical laboratory accreditation organizations, diagnostics companies, and clinical laboratories. Microbix QAPs are now available in over 30 countries, distributed by 1WA (Oneworld Accuracy Inc.), Alpha-Tec Systems, Inc., Diagnostic International Distribution SpA., Labquality Oy, The Medical Supply Company of Ireland, R-Biopharm AG, and Seegene Canada Inc. Microbix is ISO 9001 and 13485 accredited, U.S. FDA registered, Australian TGA registered, Health Canada establishment licensed, and provides CE marked products.
Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably viral transport medium (DxTM™) to stabilize patient samples for lab-based molecular diagnostic testing and Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.
fwiw, I'm looking for $1 price by fiscal end 2021 (9/30/21), and $2 by fiscal end 2022 (9/30/22). The earnings call CC is tomorrow, Monday 5/17/21. Give a listen ...
Adelaide Capital will host a live webinar with management, on Monday, May 17th at 11am ET. Please register here: https://us02web.zoom.us/webinar/register/WN_o-jH4kZiRsOjHmQPdihUrg. It will also be live-streamed to YouTube at: https://www.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw. A replay of the webinar will also be made available on Adelaide Capital’s YouTube channel.
Sounds good, what's next after that for Microbix?
Then what? Well, they also recently announced they are doing a new financing to raise approximately $6M. Usually I'm not a fan of more dilution, but Microbix has earned my respect with their judicious use of their money. Most of this money will be used for expansion. And that is great news. In the following video from early January, the CEO mentions that with their current capital, they could scale up to a $50M to $100M revenue range, but would need more capital to go above that. They have had inquiries for larger amounts of VTM and larger amounts of QAP's. So the fact they are now seeking more capital indicates to me that these inquiries have become more serious. Take a listen (the 46:00 to 47:30 time period)
What's next for Microbix?
Okay, Microbix just delivered an excellent 2nd Q earnings report. The next two quarters should continue to see small growth in their antigen business, continued strong growth in their QAP business, and significant growth in their VTM business. Their recent $4.5M VTM contract with the province of Ontario is expected to be delivered in the next two quarters. Awesome stuff!!!
Their pre-covid sales were about one million a month, mostly through their antigen segment. With growing QAP's growth, and expected VTM growth, Microbix has indicated that they expect to exit 2021 at a run rate closer to 3 million per month, that would be close to three times their sales from the pre-covid time period. This past quarter (2nd) was about 1 1/2 million/month, so in the next 6 months they hope to double that. With the recent 4.5M VTM order being filled in the next 6 months, that alone will bring it up to about 2 1/4 million per month, so the other .75 million/month should come from increase QAP's and increased VTM, and maybe some increase in antigens. More awesomeness.
At about the 16:30 mark of this video, they Mr. Groome mentions the 3M/mo run rate exit.
Agreed. Plus another 4.5M over the next two quarters from recent VTM contract, growing sales in all three categories. Raised money targeted for expansion in QAP's and VTM. Looking forward to the earnings CC on Monday.
a beautiful thing ...
Overall, greater sales and more available gross margin dollars during Q2 led to an operating income and net income of $807,463
Highlights from Q2 earnings report ...
Q2 revenues up 51% from Q2 2020, achieving record level of $4.35M (also up from $3.16M in Q1 2021)
QAP sales up 251% (1.49M vs. $425K in Q2 2020, and $962K in Q1 2021)
VTM initial sales (from private sector)
Antigen sales beginning to recover, up 7%. ($2.52M vs 2.36M Q2 2020, and 2.1M in Q1 2021)
For the balance of fiscal 2021, further sales growth and improvements to net earnings is expected, particularly as Ontario’s initial DxTM order of $4.25 million is delivered across fiscal Q3 and Q4 of 2021.
Q2 gross margin was 60%, up from 46% in Q2 2020, due to a greater proportion of sales of QAPs, new VTM sales, the effects of antigen product sales mix, and improving bioreactor antigen margins.
Overall, greater sales and more available gross margin dollars during Q2 led to an operating income and net income of $807,463 versus an operating and net loss of $219,030 in Q2 2020. Cash provided by operating activities was $981,648, compared to cash used in operations of $777,851 in Q2 2020, with the increase coming primarily from a year-over-year improvement in net income of over $1 million.
Corporate Outlook
For the balance of fiscal 2021, Microbix will work to building sales across all of its three revenue-generating business lines, continue improving percentage gross margins and driving its bottom-line results. If Microbix achieves its budget targets, the company will generate meaningful net earnings for fiscal 2021. Additionally, work continues upon securing a partnership to advance its Kinlytic® urokinase project.
Microbix Reports Record Results for Q2 Fiscal 2021
MBXBF
+2.89%
Microbix Biosystems Inc.
Thu, May 13, 2021, 6:29 PM
MBXBF
+2.89%
Record Q2 Sales of $4.35 million, Record Net Earnings of $0.8 million
MISSISSAUGA, Ontario, May 13, 2021 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, reports results for its second quarter and first half of fiscal 2021 ending March 31, 2021 (“Q2” and “H1”), with record sales and earnings, plus progress upon its strategic goals.
Management Discussion
Q2 revenues were up 51% from 2020, achieving a record level of $4.35 million as Microbix continues to emphasize its sales of innovative, proprietary, and branded medical devices. Sales of its test quality assessment products (“QAPs™”) for Q2 increased 251% from the same period in fiscal 2020 (Q2 2020) to reach a record 34% of total sales. Microbix’s newest product line, viral transport medium (branded “DxTM™”) also contributed, with meaningful initial private-sector sales. Finally, sales of antigens were also strong, recovering by 7% year-over-year. All sales categories were at acceptable gross margins and together resulted in strong EBITDA, record net earnings, and positive cash flow from operations.
For the balance of fiscal 2021, further sales growth and improvements to net earnings is expected, particularly as Ontario’s initial DxTM order of $4.25 million is delivered across fiscal Q3 and Q4 of 2021.
https://finance.yahoo.com/news/microbix-reports-record-results-q2-222900033.html
Mention on BNN Bloomberg by McWhirter today ....
https://www.bnnbloomberg.ca/video/robert-mcwhirter-discusses-microbix-biosystems~2201258
it's the second stock mentioned in this piece
Great article on Microbix Biosystems Inc...
Microbix is a biomanufacturer of antigens used in infectious disease diagnostic tests. The company has been a critical component of Ontario’s life sciences ecosystem since 1984.
Even those intimately familiar with advanced manufacturing are likely unfamiliar with the elaborate processes used to produce antigens, critical ingredients of many diagnostic tests. Microbix Chief Executive Officer Cameron Groome compares viral antigen manufacturing to “hitting a bullet with a bullet while riding a horse,” emphasizing the scientific expertise required. The ability of Microbix to work at this level of complexity has made the company a key asset for Ontario and Canada during the COVID-19 pandemic.
Antigens are substances such as the proteins of bacteria and viruses that prompt the human immune system to produce antibodies in defense. Antibodies attach to antigens, which make antigens a critical component of medical diagnostic tests that detect exposure and immunity to pathogens. For instance, if a blood sample contains antibodies that attach to specific antigens in a medical diagnostic test, the test result would be positive.
Microbix’s goal was to transform itself from a maker of unbranded, lower value-added antigens into a producer of higher value-added, innovative, proprietary, and branded medical devices.
Producing viral antigens starts by growing host mammalian cells that are then infected with live virus. Once the host cells have enabled the production of enough virus, cell residue and culture media (cell food) are removed, leaving just the target antigenic virus particles. Next, the purified viral antigens are inactivated, meaning they can no longer reproduce. In each step, Microbix employees use a variety of biological techniques that have been perfected by the company over decades.
Microbix’s antigens are used by more than 100 leading international diagnostics companies. Prior to the pandemic, the company exported all of its products directly and through a distributor network, generating $1 million of revenue on average per month. All antigen production takes place at Microbix’s 14,000 square foot manufacturing facility in Mississauga. A 10,000 square foot site nearby houses the production of the company’s other product lines as well as some warehousing and logistics operations. Microbix employs 90 people across these two locations. Many staff members hold advanced degrees in molecular biology, virology, and other related life science disciplines.
When the COVID-19 outbreak emerged, the importance of a strategic shift Microbix began in 2017 became clear. The company had launched its quality assessment products (QAPs) used for verifying the accuracy of infectious disease diagnostic tests, unaware of the eventual pandemic. Microbix’s goal was to transform itself from a maker of unbranded, lower value-added antigens into a producer of higher value-added, innovative, proprietary, and branded medical devices. When demand for testing surged with the pandemic, that strategic shift proved to be even more valuable. Within weeks, the company was able to launch specialized QAPs to help verify the accuracy of COVID-19 tests used across Canada.
The QAPs manufactured by Microbix emulate real patient samples so that diagnostic test manufacturers and clinical laboratories can use them to ensure their tests return accurate results. Consequently, these products help reduce the number of false test results which is especially crucial during this pandemic as many decisions are based on test outcomes. For example, false positives can drive unnecessary lockdowns and false negatives can put more people at risk of infection.
Specifically, no one in Canada produced viral transportation media (VTM), a liquid solution that keeps viruses in patient samples obtained with a swab at collection sites stable until they reach clinical laboratories. If global supply chains were disrupted and Canada did not receive enough VTM, that would halt COVID-19 PCR testing.
While QAPs are a fast-growing product line for the company, as of its first quarter of fiscal 2021 (Q1 2021) Microbix still generated about 70 per cent of its revenue from the production of infectious disease antigens. However, because QAPs contain antigens, the company achieves efficiencies from manufacturing both products in-house. More importantly, within QAPs the equivalent amount of antigens can generate about 100 times more value when antigens are sold to diagnostic companies as test ingredients. Notably, Q1 2021 revenues from the QAPs product line grew more than 35 times from the year preceding the pandemic and the company expects it to be one of the key drivers of future growth.
Beyond QAPs, Microbix’s more than three decades of biomanufacturing expertise offered another opportunity to help Ontario and Canada during the COVID-19 pandemic. As production, transportation, and trade of critical goods started to experience disruptions around the world, Microbix management identified a key product that the company could manufacture locally to help Canada avoid a potential testing bottleneck.
Over the years, Gastle created an Ontario-based reservoir of life sciences expertise, the importance of which is being demonstrated during the current pandemic.
Specifically, no one in Canada produced viral transportation media (VTM), a liquid solution that keeps viruses in patient samples obtained with a swab at collection sites stable until they reach clinical laboratories. If global supply chains were disrupted and Canada did not receive enough VTM, that would halt COVID-19 PCR testing. Anticipating this, Microbix management approached the provincial government with a plan to manufacture VTM locally, and in October 2020, the company was awarded $1.45 million from the Ontario Together Fund (OTF) administered by the Ministry of Economic Development, Job Creation, and Trade (MEDJCT) to support these activities. Microbix used this funding to build semi-automated production lines capable of manufacturing 600,000 units of VTM per month – enough to provide for 40% of Ontario’s current needs. The company’s ability to supply this product locally minimizes the risk of a potential disruption of COVID-19 testing.
While Microbix has proven to be a critical asset during the COVID-19 pandemic, its history extends back nearly four decades. The company was founded in 1984 by William (Bill) Gastle, a virologist by training. Gastle’s father was a doctor who served the Lakefield community and studied local bacteria and virus strains for such diseases as measles and rubella. Inspired by his father’s work and his own studies, Gastle founded Microbix with the goal of manufacturing the culture medium used for growing microorganisms in laboratories.
Public health laboratories then approached Microbix and entrusted it with growing bacteria and viruses on their behalf. The expertise developed growing bacteria and viruses led to contracts with infectious disease diagnostic test manufacturers in Canada and abroad. In 1990, he took the company public (TSX: MBX) but stayed on its management and board until his retirement in 2020. Over the years, Gastle created an Ontario-based reservoir of life sciences expertise, the importance of which is being demonstrated during the current pandemic.
Microbix expects sales to nearly double in fiscal 2021 from its fiscal 2020 levels and to redouble in fiscal 2022 (Microbix has a September 30 fiscal year-end).
Because Microbix operates in a fast-paced and high-tech industry, it needed to invest in automation and new production techniques to remain competitive. In the past, the entire antigen production process took place in large incubation rooms and mostly involved manual work. The ability to monitor processes and find deficiencies was limited until the final product was made. This reduced production efficiency and increased costs. To overcome this challenge, Microbix invested in state-of-the-art bioreactors that automate much of the viral antigen production process and even allow employees to track batch progress through their smartphones. Groome notes that automation offers greater rewards when applied to manufacturing higher-volume and standardized products like VTM and QAPs. Automating shorter production run products that require custom labeling, for instance, does not offer the same rates of return on that investment.
Groome emphasizes that timing is important in implementing successful automation projects: “You can’t be too early automating production for a new product because that new product may become obsolete before its widespread market uptake. You also can’t afford to be late because your competitors would get ahead of you. The sweet spot is somewhere in the middle.” He adds that having the right mix of skills within Microbix’s management team (including individuals with scientific, financial, and communications backgrounds) has helped the company get the timing right when implementing new production technologies.
In the past, Microbix became distracted with projects outside of its financial or operational reach. Devoting resources to those projects instead of in-scope R&D or automation risked leaving the company behind its competitors. The company has since learned to better align its goals with its core capabilities and resources, meaning that it has re-focused on its expertise for manufacturing products relating to infectious disease testing. That, coupled with plant modernization, production scale-up, and the launch of higher value-added and proprietary products, has placed it on a rapid growth trajectory. Microbix expects sales to nearly double in fiscal 2021 from its fiscal 2020 levels and to redouble in fiscal 2022 (Microbix has a September 30 fiscal year-end).
Microbix benefits from having a diverse workforce. Some positions require extensive technical skills and regulatory reporting experience. For those roles, the company hires individuals who demonstrate both scientific knowledge and strong communication skills. Other roles require very specific scientific knowledge and quality control experience. Recruiting individuals with the right combination of skills and education is important for Microbix and having a well-developed network of world class universities in Ontario supports the company’s efforts.
While many employees at Microbix hold advanced degrees in life sciences, there are also manufacturing technicians, as well as maintenance and logistics personnel who ensure production runs smoothly. Tight labour markets for such experienced personnel in the GTA can make it difficult for Microbix to retain some of these individuals. Microbix’s growth and the career opportunities that growth provides for staff are helping to address this issue. Despite this challenge, Microbix believes Ontario has an excellent workforce overall, with talented individuals from diverse backgrounds whose knowledge has been crucial in bringing the company to where it is today.
The pandemic presented Microbix with both opportunities and challenges. On one hand, the company launched new products, diversified its product line, and supported Canada’s efforts in developing a secure local supply chain for critical biological products. At the same time, sales of some of its key products from the pre-pandemic era fell as testing for other infectious diseases declined due to patients avoiding non-COVID-19 medical care. However, the company believes this to be temporary because non-COVID-19 infectious disease testing remains important for public health. Some cancers, for example, stem from infection with certain viruses and testing is key for early diagnosis and more effective treatment.
From its humble beginnings more than three decades ago, Microbix has emerged as a critical component of Ontario’s life sciences ecosystem. The ability of Groome and his team at Microbix to overcome challenges and capitalize on opportunities prompted by the pandemic is a testament to the entrepreneurial and innovative spirit espoused by Microbix.
Published: May 4, 2021
https://trilliummfg.ca/profile/microbix/
Microbix & SpeeDx Form Exclusive Collaboration
Focus on Diagnostics and Controls for Anti-Microbial Resistant Infections
MISSISSAUGA, Ontario and EVELEIGH, Australia, April 26, 2021 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, and SpeeDx Pty. Ltd. (SpeedDx), a developer of innovative molecular diagnostics solutions, are pleased to announce the formation of a collaboration under which Microbix will be exclusive developer of Quality Assessment Products (QAPs™) to facilitate the registration and commercialization of SpeeDx diagnostic assays.
The collaboration will begin with support of SpeeDx’s diagnostic tests for infection with antimicrobial-resistant (AMR) strains of Mycoplasma genitalium (AMR MGEN), a widespread sexually-transmitted infection and a test market expected to exceed US$ 1.0B globally by 2027. AMR MGEN is known to have multiple mutations that render certain antibiotics ineffective against it. Accurate diagnosis of such drug-resistant infections requires control materials sensitive to these mutations – in order to confirm the test performance. However, producing AMR MGEN controls in commercially-relevant quantities has posed technical hurdles that have been solved using proprietary Microbix technology. This is enabling Microbix to produce the QAPs required by SpeeDx to complete development and registration of its AMR MGEN assays. This same Microbix technology can be used to safely produce a range of QAPs to support tests for other AMR and XDR (extremely drug-resistant) organisms.
Microbix and SpeeDx believe it is pointless or harmful to prescribe anti-microbials to which an infection is resistant. Most current diagnostic tests cannot detect any drug-resistance mutations. The new generation of diagnostics being developed by SpeeDx detect the mutations that drive resistance, enabling more effective treatment. In turn, Microbix has established how to create QAPs for AMR or XDR versions of bacteria and viruses – safely, economically, and in large quantities. Such Microbix biomaterials will be used by SpeeDx to finalize the development, regulatory filings and commercialization of a range of its diagnostic tests, as they continue to provide products and services in partnership with some of the world’s largest diagnostics-makers and clinical labs.
Phil Casselli, SVP of Business Development at Microbix, remarked, “AMR and XDR infections are a dangerous evolution that are leading to challenges in infection control and treatment. We’re therefore very pleased to help SpeeDx to bring their extremely valuable new diagnostic tests to the market”.
Colin Denver, CEO of SpeeDx, commented, “SpeeDx is a world-leader in creating the next-generation assays needed to effectively diagnose and treat drug-resistant bacterial and viral infections. So it makes great sense to work with Microbix and apply its innovative and proprietary controls to ensure the best-possible accuracy of our tests. We believe this alliance will be of great benefit to healthcare globally."
https://finance.yahoo.com/news/microbix-speedx-form-exclusive-collaboration-110000288.html
that's a strong PR!!!
Microbix Receives $4.25 Million Order For Viral Transport Medium
An Initial Order From Government Of Ontario Procurement Authorities
MISSISSAUGA, April 23, 2021 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, announces that it has received an initial order of CDN$ 4.25 million for its viral transport medium (generically known as “VTM” and branded as “DxTM™” by Microbix). DxTM is a test sample-collection device that is essential for PCR-testing for the virus causing COVID-19 disease. This initial order has been made by a procurement authority representing the Province of Ontario.
In October 2020, Microbix announced a CDN$ 1.45 million grant agreement with the Ontario Together Fund (OTF) of the Ministry of Economic Development, Job Creation and Trade (MEDJCT) to provide COVID-related products, including a secure domestic supply of highest-quality VTM. With respect to VTM, Microbix has since created an optimal formulation, established & validated production methods, initiated & secured domestically-driven supply-chains, procured & validated equipment, hired & trained technical staff, scaled to the requested amounts, and achieved the necessary Health Canada qualifications.
This initial order for DxTM is entirely binding, will be delivered across Microbix’s fiscal Q3 and Q4, and is at a price within the range of prior company disclosures. A first delivery of 100,000 vials will be made in the month of May. Going forward, Microbix is now included on Ontario’s short-list of preferred vendors and is the only listed domestic manufacturer of viral transport medium.
Subject to fulfilling orders from other designates of the Government of Ontario, DxTM is also available for use throughout Canada, manufactured and distributed under Microbix’s Health Canada Medical Devices Establishment License (MDEL) and its ISO quality management systems. The suitability of DxTM has been evaluated across the multiple PCR test platforms used by Ontario’s labs and it is being produced entirely at Microbix in Mississauga, with critical ingredients and materials sourced from Canadian suppliers.
DxTM is provided in a vial that is sized to accommodate nasopharyngeal swab segments of up to 10 cm in length. Internal and external studies indicate excellent viral RNA recovery and strong product shelf-life. Further DxTM information is available at www.microbix.com and purchase enquiries can be made by e-mail to customer.service@microbix.com. COVID-19 testing organizations are also encouraged to use Microbix’s PROCEEDx™ “RUO” samples or REDx™ “IVD” controls to support molecular or antigen tests.
Cameron Groome, CEO & President of Microbix, remarked, “We are grateful for the confidence that is being placed in Microbix to supply this critical healthcare product for the citizens of Ontario. The well-reasoned support of Ontario’s Ministry of Economic Development, Job Creation and Trade and its Ontario Together Fund program has helped enable us to make strategically-relevant amounts of highest-quality viral transport medium here in Mississauga. Microbix’s DxTM will now help Ontario’s COVID testing programs by resolving the problems that have been ongoing with supplies made elsewhere and then imported into Ontario – these include inconsistent quality, intermittent availability, and test-system incompatibilities.”
About Microbix Biosystems
Microbix develops proprietary biological technology solutions for human health and well-being, with about 90 skilled employees and sales growing from a base of over $1 million per month. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Microbix antigens enable the antibody tests of over 100 international diagnostics companies, while its QAPs are sold to clinical laboratory accreditation organizations, diagnostics companies, and clinical laboratories. Microbix QAPs are now available in over 30 countries, distributed by 1WA (Oneworld Accuracy Inc.), Alpha-Tec Systems, Inc., Diagnostic International Distribution SpA., Labquality Oy, The Medical Supply Company of Ireland, R-Biopharm AG, and Seegene Canada Inc. Microbix is ISO 9001 and 13485 accredited, U.S. FDA registered, Australian TGA registered, Health Canada establishment licensed, and provides CE marked products.
Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably viral transport medium (DxTM™) to stabilize patient samples for lab-based molecular diagnostic testing and Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.
https://finance.yahoo.com/news/microbix-receives-4-25-million-145900165.html
Insider Buys continue at Microbix ...
Insider Summary
Last 3 Months
140,000 Shares Traded
4 Buys0 Sells
Last 6 Months
915,592 Shares Traded
29 Buys0 Sells
Last 12 Months
990,592 Shares Traded
31 Buys0 Sells
Insiders
Name:
All
Transaction:
All
Select Year:
All
Date Name Shares Traded Value Shares Held
2021-04-14 Groome, Cameron Lionel 10,000 $6,000.00 150,000
Transaction: Buy in the public market at $0.60 per share
2021-04-13 Groome, Cameron Lionel 30,000 $14,700.00 100,000
Transaction: Buy in the public market at $0.49 per share
2021-04-13 Marino, Martin 35,000 $21,700.00 35,000
Transaction: Buy in the public market at $0.62 per share
2021-04-13 Marino, Martin 65,000 $40,040.00 565,000
Transaction: Buy in the public market at $0.62 per share
Fund manager Eden Rahim positively mentions Microbix again in todays' interview, about the 5:00 mark.
https://www.bnnbloomberg.ca/video/biotech-portfolio-manager-sees-opportunity-in-biontech-microbix-and-fulgent~2171195
This collaboration with Seegene is great news. Seegene is a major player worldwide in diagnostic testing. Here is Seegene's recent release on their covid variant testing ...
https://finance.yahoo.com/news/seegenes-latest-covid-19-test-012000102.html
Microbix & Seegene Canada Form COVID-Variant Collaboration
More content below
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Microbix Biosystems Inc.
Mon, March 15, 2021, 7:00 AM
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Focus on Supporting Canadian Labs with Variant-related Assays and QAPs
MISSISSAUGA, Ontario and TORONTO, March 15, 2021 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, and Seegene Canada Inc. (Seegene®), a provider of leading-edge molecular diagnostics assays and instruments (made by Seegene Inc. of Seoul, Korea), are pleased to announce a collaboration under which Seegene will distribute and recommend Microbix’s new COVID-variant Quality Assessment Products (QAPs™) to monitor the workflow accuracy of Seegene Allplex® assays across Canada.
In this collaboration, Seegene becomes a QAPs distributor and will recommend Microbix’s whole-genome COVID-variant QAPs to support Seegene’s molecular assays that detect the more-contagious emerging strains of the SARS-CoV-2 virus – initially the Brazilian, South African, & UK variants (P.1, B.1.351, & B1.1.7 respectively). Seegene’s unique Allplex assays more rapidly and economically detect the genetic point-mutations associated with these variants. In turn, Microbix’s novel COVID-variant QAPs will monitor the workflow accuracy and laboratory testing performance of those assays.
Combining Seegene’s Allplex new-variant detection assays with Microbix’s new-variant QAPs creates a faster, less-expensive, accurate, and effective means of assessing the prevalence of viral variants in populations. Use of Allplex and QAPs is therefore a superior alternative to costly and slow genomic-sequencing of patient samples. The resulting accurate knowledge of the presence and proportion of viral variants is critical for public health decision-making, including about the severity of lockdowns and the timing and extent of re-openings.
Seegene Allplex assays are designed to readily detect even single-nucleotide changes to genetic sequences and are therefore well-suited to viral variant detection (kits are now available in Canada on an RUO basis). Microbix’s QAPs are available to support both PCR-based (molecular) and antigen-based SARS-CoV-2 assays in refrigerator-stable liquid vials or formatted on Copan® FLOQSwabs® and room-temperature stable. Microbix’s PROCEEDx™ brand QAPs are RUO samples, while its REDx™ brand QAPs are In-Vitro Diagnostic “IVD” Controls. Regular use of QAPs helps ensure the accuracy of laboratory-conducted assays, such as for variant detection.
James Yantzi, CEO of Seegene Canada, commented, “It is vital for Canadian laboratories to have immediate access to the tools they require to generate the data that guides Canada’s public health responses. We’re therefore very pleased to collaborate with Microbix to help ensure the accuracy of our viral variant assays.”
Phil Casselli, SVP of Business Development at Microbix, remarked, “The emergence of variant viral strains drove us to create additional QAPs to support important new assays such as Seegene’s. We are delighted to count Seegene Canada as a supporter of Microbix, a technical collaborator, and our latest QAPs distributor.”
https://finance.yahoo.com/news/microbix-seegene-canada-form-covid-110000716.html
SNNLive spoke with Cameron Groome, President and CEO of Microbix Biosystems
Analyst price target increased from 1.40 to 2.00 (Canadian) ...
https://static1.squarespace.com/static/59985e87a5790abbff3f7994/t/6030216372c9fa46fb70c3e8/1613767012355/MBX+21+Q1c.pdf
Here is the transcript from the previous post ...
All right, MicroBix Biosystems develops, manufactures and markets, biological products or technologies to customers in North America and around the world. The company is a leading provider of native antigens used in infectious disease tests. It also markets quality assurance products, which saw a 40 percent sales increase in fiscal 2020. And lastly, it manufactures Viral Transport Medium (VTM), which, through a grant with the government of Ontario, is expected to scale production to sixty thousand miles per day. With the infectious disease testing expected to increase in a post-covid world, MicroBix is targeting stabilized antigen sales for 2021, as well as expanding its QAP pipeline. If none of that made any sense to you, you are in the right place. Hi, I’m Maddy Grace. This is Five Easy Questions where we break down the market for new investors. Today, I’m speaking with Cameron Groome, president, CEO and director of MicroBix, to get a better understanding of the company, industry and science behind it. Thank you so much for joining us today, Cameron.
Cameron L. Groome
You’re most welcome, Maddy. Thank you for having me, it’s a pleasure.
Maddy Grace
All right. I’m going to get right into it. First question, definition time. What are antigens, QAPs and VTMs?
Cameron L. Groome
Well, we’ll we’ll do that very quickly. So antigens are the complement to an antibody. So when you often see the Y-shaped antibody that binds to something, what binds to, is in antigen. And we supply in our context inactivated and highly purified bacteria and viruses to drive the tests, the biology at the heart of the test, the intel inside, to run the tests of over one hundred different international diagnostics companies. So if you want to look at whether you’ve been exposed to a virus or bacteria or whether you have immunity to a virus or bacteria, that’s when you need the antigen to be at the heart of that test to drive it. We supply those critical ingredients for a whole catalogue of different diagnostic tests. Then quality assessment products. This is what we call QAPs, Q-A-Ps for short. And these are the controls that are effectively a mimic of a sample from an infected patient that looks to a test exactly like a patient sample. But the difference is, it isn’t infectious. It’s stable and it’s reliable. So you can see behind me in the screen, this is one of our products that’s a control for covid molecular tests, for PCR tests for covid. And it’s actually formatted on to the same nasal pharyngeal swab that you’d collect the sample on. So if you’re wanting to know, hey, I’m running one hundred tests in my lab today, how do I know they’re right? You know, how do I know a positive is a positive and a negative is really a negative. Well, you need a control. And so that’s what we provide. We provide that. We provide them on swabs. We provide little liquid samples in little vials like this. That to the test looks exactly like a patient positive sample or exactly like a patient negative sample. And we make those to ensure that you can have confidence that all the tests run through the day are accurate. Otherwise, how do you know?
Maddy Grace
Right.
Cameron L. Groome
And the third product we’re making very importantly, and this is the one you alluded to, that the province of Ontario has asked us to make, is viral transport medium. This is the liquid vial of stuff that a swab from somebody’s nose or throat, gets snapped off and put in one of these vials to ensure that the virus is still intact and can be tested for by the time it’s tested at the clinical lab hours or days later. And this has been a product that’s been in critically short supply all over the world. Nobody, to our knowledge, was making in Canada and our expertise in growing all these organisms and manipulating and purify them, that we know how to make very complex media. So we started producing these, producing this to have a secure domestic supply of high quality product rather than having to rely on, oh, wait a minute, China is not releasing product out of its production because they’ve got a problem at home now. Or the supply from India maybe wasn’t quite what we thought it was going to be, and it isn’t working on the test format, so we really…Everybody is very conscious that we need these domestic supplies, just like the conversation is going on around the need for domestic supply of vaccines. We need a domestic supply of these critical testing materials. So we’re making all this crazy mad scientist stuff, helping public health in Canada and internationally to help manage the pandemic.
Maddy Grace
Oh, I am so impressed. That was so articulate. I was expecting to ask you so many questions, and be like, I have no idea what you’re talking about, but I actually I understood all of that. That’s amazing. OK, next question. How long does it take to bring a QAP to the market?
Cameron L. Groome
Well the QAP products we’ve got to create and I’ll– just this is one of our– oh, I got the background. But this is one of our prototypes. So if we’re looking at creating one of our QAP products, we have to make sure that that product is going to work on every test on the market. And that’s something that we do. We’re very careful to do that. We want to make sure if we’re offering QAPs for molecular tests, for example, we don’t just want it to work on an Abbott test. We want to be able to go down the whole alphabet of test companies. So no matter what test you’re running in your lab, we want to make sure that MicroBix control is going to work and that presents a whole other level of help to the lab that they don’t say, oh, I need one control for every different instrument I’m running in. For example, Ontario, last time I spoke with them about this, they were running 18 different molecular testing systems. So you can imagine the nightmare if you needed 18 different controls or you didn’t have any controls at all.
Maddy Grace
Yeah.
Cameron L. Groome
We create controls that work on everything. And that’s a huge skill that we’ve developed over the years. So when we saw, and now to get back to your question, we saw covid coming along and we said, I don’t know WHO’s World Health is saying this isn’t a pandemic, but it kind of looks like it is.
Maddy Grace
Right
Cameron L. Groome
Started late January, actually, we started working to create a covid molecular test control. And by the end of March, we had validated that internally and with arms-length external partners and we were able to announce a proof of concept. We got that available in Canada in late April. In the US in May and Europe in June. And yeah, so we’ve been working pretty hard this year and that’s now in use in over 20 different countries. Now we have registered the product for use in the EU with their CE mark program, with the US FDA, with Health Canada under a medical devices establishment license and even with the Australian Therapeutic Goods Administration or TGA. So this is what we’ve done. We’ve created now as well, controls for the rapid antigen tests for covid. We have controls for flu A, flu B virus, RSV, human papilloma virus, molecular testing for the virus that causes cervical cancer, as well as a number of others, and a growing list of tests that we can support to make sure they’re accurate. So that’s that’s what we do. And where we want to get to is getting a new product like this out every couple of months with using our internal expertise. And that’s a big, big lift. So a lot of international diagnostics companies are now saying, you know what, we’re great with microfluidics and software and assays. This controls business. You guys got this. We’re going to work with you.
Maddy Grace
Oh, cool. Wow, that is very neat. And this is a this is a big scale.
Cameron L. Groome
Well, we’re moving from being a little known Canadian company, doing ingredients to a company providing innovative proprietary and branded products all over the world. So it’s a transformative time for us. And we’re delighted to be able to help public health in Ontario, across Canada and internationally.
Maddy Grace
Right. All right, next question. Why will infectious disease testing increase after the introduction of covid vaccines?
Cameron L. Groome
Great question, Maddy. Diagnostic testing is is running neck and neck with vaccines as the best value for dollar in health care. The biggest thing in treating a disease is, what’s the problem? Give me an accurate diagnosis. Tell me what’s wrong with me. Then we can start to intervene and treat it and fix things. And historically, we’ve been developing over the past 20-odd years very sophisticated testing capability that we can tell a lot more than we ever could before about, particularly about infectious diseases. If you’ve got an infection, why aren’t we saying exactly what bacteria it is? Exactly what antibiotic is going to work against it, rather than guessing? And these sorts of tests have been available. But the argument was, yeah, it’s a great value, but we don’t have the test capacity to do these tests. We know it would save money for the system, but we don’t have the test capacity. Now we built out massive increases in molecular and other testing capacity for covid. What are we going to do after covid? Are we going to throw all that stuff in the garbage bin now that we’ve invested the capital in the capacity or how to use it intelligently? And I’m hopeful that the governments and health authorities are going to say, you know what, now we’ve got this capacity, let’s use it. And sophisticated tests, you absolutely need the controls to ensure their accuracy. And we’ve created intellectual property and expertise to be able to create the controls to ensure the accuracy of these far more advanced tests. So I’m really optimistic post-covid, we’re going to have some benefits of better health care from this better testing and that our company will be able to support that with an increasing breadth of product offering to support these new tests.
Maddy Grace
All right, what are the biggest criteria in picking a new QAP product to develop?
Cameron L. Groome
Obviously as business people and as responsible citizens, we’re looking at where is it going to help, you know, where is there real value added to the health system or the kind of QAPs that we develop? The second thing we look at is, are we able to do something really at the forefront where it’s going to be impactful on health care as well? And do we have the capability to deliver it and the partners to deliver it? And I’ll give you a great example. There’s an infection called Mgen or mycoplasma genitalium, and it’s a sexually transmitted infection. And you probably never heard of it.
Maddy Grace
No
Cameron L. Groome
Maybe a fifth of adults carry Mgen. And it is a big cause of urinary and reproductive tract inflammation. It causes infertility, it causes miscarriages. And it’s not widely tested for even though about one in five people carries this and it’s treatable with antibiotics. Why isn’t it tested for? Well, nobody had controls. And if you can ensure the accuracy of the test, you can’t be accredited to do the testing. If you can’t be accredited to do the testing, no government’s going to pay for it. So nobody or very few people were getting tested for Mgen. And we’ve been able to create register a very accurate control for Mgen. And so the industry is looking at this saying, great, now we can start testing and we can start. And it’s this kind of opportunity that we look for to identify and it may not be obvious, but we can identify this, create the products to help the industry help our health. And that’s one of the things that excites us and gets us up in the morning.
Maddy Grace
That’s amazing. My last question, what are your ESG guidelines?
Cameron L. Groome
Well, we’ve got some pretty unique ones and we grow over 50 different infectious organisms in our labs. So the biggest ESG thing for us is the safety of our staff, the safety of the community, and we don’t grow anything in our labs that’s going to melt your face off like an Indiana Jones Nazi or anything like that. But it might make you uncomfortable. So the first thing is that everybody stay safe at our facility and nothing leaves there alive. So for that, we have biosafety level qualifications in our laboratories. We have a joint health and safety committee that’s incredibly diligent, different ISO standards, and we operate under the Pathogens and Toxins Act of Health Canada to make sure everybody is safe and everything stays well. And then we’ve got, of course, many scientists, qualified personnel with advanced degrees. So we have an incredible multinational, multi-ethnic, multi-gender team. It’s just wonderful that we have everybody working together here in that way. And we’re also, of course, very conscious to respect things like the Ontario Disabilities Act, to make sure that wherever possible we’re giving people an exciting, motivating, a great place to work. And our sense of humor might not be entirely politically correct all the time, but what we we make sure everybody’s having fun in a welcoming and inclusive environment.
Maddy Grace
That’s amazing. OK, now I just have a quick rapid fire round for you,
Cameron L. Groome
OK.
Maddy Grace
Quick questions. Are you ready?
Cameron L. Groome
I am.
Maddy Grace
OK, tea or coffee?
Cameron L. Groome
Coffee.
Maddy Grace
What is the first thing you do in the morning?
Cameron L. Groome
Coffee.
Maddy Grace
What is your favorite sport to watch?
Cameron L. Groome
I would say sailing, yacht racing and sailing. I sailed as a kid and it just love it.
Maddy Grace
What is your favorite sport to play?
Cameron L. Groome
Not a huge team sport guy, but I love scuba diving, I love skiing or I think activities where I’m challenging myself.
Maddy Grace
These are good these are unique answers, I’ve never gotten any of those before. Your favorite book?
Cameron L. Groome
I would say a rather quirky novel called “Soon I Will Be Invincible.” It goes with the mad scientist vibe
Maddy Grace
There you go, it fits the whole persona. Cat or dog?
Cameron L. Groome
Dog, dog. I’m dogless at the moment. But I had the most wonderful dog in the world for 15 years and miss her dearly.
Maddy Grace
Value investor or a day trader?
Cameron L. Groome
Value investor, definitely.
Maddy Grace
A suit and tie or a casual?
Cameron L. Groome
Gee, let me think. I had some video presentation with shareholders, so normally my druthers would probably be t-shirt, shorts and flip flops somewhere warm. But I can do either.
Maddy Grace
There you go. If you had a thousand dollars to invest, what company would it be? Not your own.
Cameron L. Groome
Right now I invest in a private company I’m on the board of called Naegis in Vancouver. They’re doing some wonderful work on making ocular therapies for retinal and problems at the back of the eye, where you can just put an eye drop on and it moves right to where it’s needed. And I think it’s a huge innovation and a private company that needs additional funding to move that forward. That would be where I’d put.
Maddy Grace
Very cool. What was the last movie you watched?
Cameron L. Groome
I watched RED, the retired, extremely dangerous sort of action comedy last night. Loved it. Laughed quite hard.
Maddy Grace
Oh, my goodness. I haven’t seen it, but I can see my co-worker right now on Zoom, like killing himself laughing. He’s clearly watched it and I think enjoyed it. He’s giving me a thumbs up. OK, and then very, very last question. Where do you think covid vaccinations will be at in terms of progress by the end of the year?
Cameron L. Groome
I’m hoping we’ll be on our way to herd immunity. The mRNA vaccines from Moderna and Pfizer are really– have moved…It’s extraordinary to move from a concept of vaccination to very effective products at an incredible speed and safety. So those are excellent. And then there’s the AstraZeneca vaccine as well on its way. So I’m hoping between those three and possibly others, we can get well on our way to herd immunity. And some of our work, I’m hoping, will help with the allocation of vaccines to direct them where they’re most needed as well.
Maddy Grace
Oh, that is great. That’s all the time we have today. Thank you so much for joining us.
Cameron L. Groome
Thank you for having me, a real pleasure.
Maddy Grace
And hopefully we get to talk to you in the future.
Cameron L. Groome
Look forward to it. And thank you for the opportunity to present to your viewers.
Maddy Grace
Of course, thank you so much. Have a good rest of your day!
Cameron L. Groome
https://equity.guru/2021/02/16/video-five-easy-questions-ep-6-microbix-biosystems-mbx-t-ceo-cameron-l-groome-talks-antigens-qaps-and-vtms/
New Video Interview with Cameron Groome - 5 Easy Questions
Easy to understand answers to Microbix business.
Microbix Reports Results for
? Q1 Fiscal 2021
Record Q1 Sales, With Nearly 3,600%
Year-Over-Year QAPs Growth
MISSISSAUGA, February 11, 2021 - Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, reports results for the first quarter of its fiscal 2021, the three-months ended December 31, 2020 (“Q1”), with record sales and continued progress upon its strategic goals.
Management Discussion
Q1 results are demonstrating the diagnostics sector uptake of Microbix’s innovative, proprietary, and branded test quality assessment products (“QAPs™”). Overall QAPs sales for Q1 increased nearly 3,600% from the same period in fiscal 2020 (“Q1 2020”), approaching $1.0 million and attaining a record 30% of Microbix’s total sales of $3.16 million. Microbix’s changing sales mix, along with strong operational discipline across all products, help improve gross margin and enable a positive net income, as opposed to the net loss recorded in Q1 2020. Management expects sales growth to continue over fiscal 2021, driven by QAPs uptake, recovery in antigen demand, and the start of sales of viral transport medium (DxTM™).
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First Quarter Financial Results
Q1 revenue was $3,157,659, a 54% increase from Q1 2020 revenue of $2,046,348. Included were antigen product revenues of $2,137,829 (Q1 2020 - $1,946,459), a recovery of 9.8%. QAPs revenues were $962,421, an increase of 3,585% from Q1 2020 sales of $26,114, a prior year quarter that contained no REDx™ (IVD) and few PROCEEDx™ (RUO) branded QAPs sales. Finally, royalties were $57,409 (Q1 2020 - $73,775). Q1 sales were most influenced by the broadening diagnostics industry uptake of Microbix’s COVID-19 related QAPs, especially REDx™FLOQ® and PROCEEDx™FLOQ®, followed by the start of a broad-based recovery in antigen sales.
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Q1 gross margin was 55.3%, up from 51.0% in Q1 2020, due to a greater proportion of sales of QAPs and the effects of antigen product sales mix.
Operating expenses in Q1 decreased by 1% relative to Q1 2020, in spite of a heightened level of overall business activity. Operating expenses were helped by wage subsidies received during one month of Q1, with some other expenses offset by funding from the previously-announced Ontario Together Fund grant. Overall, greater sales and more available gross margin dollars during the entirety of Q1 led to an operating income and net income of $130,819 versus an operating loss and net loss of $585,265 in Q1 2020. Cash provided by operating activities was $186,802, compared to cash provided from operations of $237,792 in Q1 2020, with the decline due to increased investment of working capital into inventory.
At the end of Q1, Microbix’s current ratio (current assets divided by current liabilities) was 1.62 and its debt to equity ratio (total debt over shareholders’ equity) was 1.31.
Corporate Outlook
For the balance of fiscal 2021, Microbix will continue working to strengthen each of its three revenue-focused product areas. For antigens, this will comprise ongoing efforts to improve gross margins, both as a percentage and in terms of their consistency. For QAPs, this will entail adding to the current ten licensed/registered medical devices offerings and expanding sales to PT agencies, Dx OEMs, clinical labs, and distributors. For our newest product area, DxTM viral transport medium, sales have begun in the current fiscal Q2, 2021 and we intend to continue to grow those sales through fiscal 2021.
About Microbix Biosystems Inc.
Microbix develops proprietary biological and technology solutions for human health and well-being, with about 90 skilled employees and sales growing from a base of approximately $1 million per month. It makes a wide range of critical biological materials for the global diagnostics industry, most notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) to support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Microbix antigens enable the antibody tests of over 100 international diagnostics companies, while its QAPs are sold to clinical laboratory accreditation organizations, diagnostics companies, and clinical laboratories. Microbix QAPs are now available in over 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. Microbix is ISO 9001 and 13485 accredited, U.S. FDA registered, Australian TGA registered, Health Canada establishment licensed, and provides CE marked products.
Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably DxTM™ viral transport medium to stabilize patient samples for lab-based molecular diagnostic testing and Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.
To assist the non-technical reader, Microbix’s QAPs are provided with different branding, labeling, and usage instructions according to their intended uses. Such QAPs branding includes (i) white-labeled product to the agencies that provide proficiency testing and accreditation services to clinical labs, (ii) PROCEEDx brand and ONBOARDx kits to support test development, new instrument or test-lot qualifications, and technician training, and (iii) the REDx brand to support test-workflow quality management at clinical labs testing runs of patient samples. White label, PROCEEDx, and ONBOARDx QAPs are classed as “RUO” (i.e., for Research Use Only), whereas REDx QAPs are fully-regulated and classed as “IVD” (i.e., for In-Vitro Diagnostic use).
yeah, it's been lonely here. It may get more crowded soon, as earnings should be out this week, and VTM ales should start picking up later this month.
I also recently posted on Reddit, under poptartgator fwiw
Hey dude, talk to yourself much!! Hah, just joshing. looks attractive.
Microbix Announces Material First Sales of Viral Transport Medium
Tue, February 9, 2021, 7:00 A.M.
Initial Production of 50,000 Vials Entirely Sold
MISSISSAUGA, Ontario, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, is pleased to announce material first sales of its viral transport medium (generically known as VTM and branded as DxTM™) that supports Canadian RT-PCR (molecular) testing for the virus causing COVID-19 disease. First sales of 50,000 vials (approximately one lot) have now been made to a private-market client at Microbix’s targeted pricing for this newly-available product.
At the request of the Government of Ontario, Microbix has created a secure and locally-based supply of high-quality VTM, any shortage of which limits capacity for COVID-19 testing. Microbix has begun its DxTM production at about 50,000 vials per week, with steps now underway to increase that rate of production to 100,000 vials per week and the objective of reaching that doubling in fiscal Q2 (the quarter ended March 31, 2021). Further scale-up and automation is planned to attain Ontario’s original request for production of over 400,000 vials of DxTM per week by the end of Microbix’s fiscal 2021 (September 30, 2021).
Additional production lots will be released on a weekly basis starting this week. Subject to fulfilling orders from the Government of Ontario and its designates, DxTM is now available for use throughout Canada, manufactured and distributed under Microbix’s Health Canada Medical Devices Establishment License (MDEL) and its ISO quality management systems. The suitability of DxTM has been evaluated across multiple test platforms and it is being produced entirely at Microbix’s facilities in Mississauga, Ontario, with its critical ingredients and materials sourced from Canadian suppliers.
Microbix remains engaged with the principal supply-chain organization supporting hospitals in Ontario to procure DxTM for testing programs within the province. However, until Microbix’s supply is procured by the Government of Ontario or its designates, DxTM will continue to be made available on a first-come-first-served basis – including to other provinces and private testing organizations.
DxTM is provided in a vial that is sized to accommodate nasopharyngeal swab segments of up to 10 cm in length. Internal and external studies indicate excellent viral RNA recovery and strong product shelf-life. Further DxTM information is available at www.microbix.com and purchase enquiries can be made by e-mail to customer.service@microbix.com. COVID-19 testing organizations are also encouraged to use Microbix’s PROCEEDx™ “RUO” samples or REDx™ “IVD” controls to support molecular or antigen tests.
Cameron Groome, CEO & President of Microbix, remarked, “We’re honoured to be helping manage the COVID-19 pandemic by making highest-quality viral transport medium here in Ontario. We are likewise pleased our DxTM is now supporting testing efforts within Canada. Microbix’s DxTM can help alleviate the ongoing concerns in Ontario and other provinces about inconsistent quality, intermittent availability, and test-system incompatibilities being experienced with imported supplies.”
https://finance.yahoo.com/news/microbix-announces-material-first-sales-120000657.html
Ottawa issues tender for up to 100,000 COVID tests per day for asymptomatic people at airports
https://nationalpost.com/news/canada/ottawa-issues-tender-for-up-to-100000-covid-tests-per-day-for-asymptomatic-people-at-airports-other-hot-spots/wcm/8f42a8b2-476b-4305-816a-774b0f6ecfe7/amp/
The labs and companies administering the tests will use quality controls to make sure their diagnostic machines are working correctly, and the technicians administering the tests (swabbing throats/noses) will need viral transport media (test tubes with liquid media to preserve the amples) to transport the swabs.
Microbix supplies both of these, and is gearing up their capacity. This is potentially very big.
Microbix Viral Transport Medium? Now Available
Initial Capacity of 50,000 Vials/Week Under? Health Canada Regulation
MISSISSAUGA, January 28, 2021 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, is pleased to announce the commercial availability of its viral transport medium (VTM) to support Canadian RT-PCR (molecular) testing for the virus causing COVID-19 disease.
At the request of the Government of Ontario, Microbix has created a secure and locally-based supply of high-quality VTM, any shortage of which limits capacity for COVID-19 testing. Microbix has begun its VTM production at 50,000 vials per week using semi-automated methods and, again at Ontario’s request, is targeting more-automated production of over 400,000 vials per week by the end of its fiscal 2021.
In October 2020, the Honorable Vic Fedeli, Minister of MEDJCT, Minister responsible for OTF, and Member of Provincial Parliament for Nipissing, approved an Ontario Together Fund grant of $1.45 million to cover 50% of the cost to scale-up production of two emerging Microbix product lines – its VTM (now branded as DxTM™), and its growing portfolio of test quality assessment products (QAPs™) which are helping manage the pandemic across Canada, and in Australia, the EU, Scandinavia, the UK, and the US.
DxTM is now available for use throughout Canada, manufactured and distributed under Microbix’s Health Canada Medical Devices Establishment License (MDEL) and its ISO quality management systems. The suitability of DxTM has been evaluated across multiple test platforms by Public Health Ontario – based on trials of hundreds of samples provided by Microbix. DxTM is produced entirely at Microbix’s facilities in Mississauga, Ontario and its critical ingredients and materials are sourced from Canadian suppliers.
Microbix is currently in discussions with Plexxus, a leading supply-chain organization that supports hospitals in Ontario, to procure DxTM for testing programs within the province. Any supply of DxTM not procured by Plexxus or other representatives of the Government of Ontario will be made available on a first-come-first-served basis – including to other provinces and private testing organizations.
DxTM is provided in a vial that is sized to accommodate nasopharyngeal swab segments of up to 10 cm in length. Internal and external studies indicate excellent viral RNA recovery and strong product shelf-life. Further DxTM information is available at www.microbix.com and purchase enquiries can be made by e-mail to customer.service@microbix.com. COVID-19 testing organizations are also encouraged to use Microbix’s PROCEEDx™ “RUO” samples or REDx™ “IVD” controls to support molecular or antigen tests.
Cameron Groome, CEO & President of Microbix, remarked, “We’re pleased to fulfill our commitment to provide this critical testing medium and do it so soon after receiving grant funding from Ontario. Our team has done superlative work in creating this product, validating and scaling processes for its manufacture, proving its utility and stability, and completing the necessary technical files. We look forward to seeing DxTM in widespread use within Ontario and, as appropriate, elsewhere in Canada.”
About Microbix Biosystems
Microbix develops proprietary biological and technology solutions for human health and well-being, with about 80 skilled employees and sales growing from a base of approximately $1 million per month. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Microbix antigens enable the antibody tests of over 100 international diagnostics companies, while its QAPs are sold to clinical laboratory accreditation organizations, diagnostics companies, and clinical laboratories. Microbix QAPs are now available in over 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. Microbix is ISO 9001 and 13485 accredited, U.S. FDA registered, Australian TGA registered, Health Canada establishment licensed, and provides CE marked products.
Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably viral transport medium (DxTM™) to stabilize patient samples for lab-based molecular diagnostic testing and Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.
Insider Summary
Last 3 Months 775,592 Shares Traded 25 Buys 0 Sells
Last 6 Months 850,592 Shares Traded 27 Buys 0 Sells
Last 12 Months 900,592 Shares Traded 29 Buys 0 Sells
Another 31,000 shares bought last Thursday
Insiders
Name:
All
Transaction:
All
Select Year:
All
Date Name Shares Traded Value Shares Held
2021-01-14 Groome, Cameron Lionel 20,000 $8,200.00 140,000
Transaction: Buy in the public market at $0.41 per share
2021-01-14 Groome, Cameron Lionel 11,000 $3,630.00 200,000
Transaction: Buy in the public market at $0.33 per share
More insider buys in past week
Date Name Shares Traded Value Shares Held
2021-01-07 Giovinazzo, Anthony J. 32,000 $13,203.20 82,000
Transaction: Buy in the public market at $0.41 per share
2021-01-06 Giovinazzo, Anthony J. 50,000 $21,440.00 50,000
Transaction: Buy in the public market at $0.43 per share
2020-12-29 Luscher, Mark Adrian 28,270 $12,014.75 159,670
Transaction: Buy in the public market at $0.43 per share
There were a record 72,900 COVID-19 tests completed in the province in the past 24-hour period. Ontario’s test positivity rate now stands at about 5.3 per cent, according to the province.
There are 61,228 COVID-19 tests still under investigation. In total, Ontario has processed more than 8.4 million tests since the pandemic began in January.
https://toronto.ctvnews.ca/number-of-icu-patients-in-ontario-soars-as-province-records-more-than-3-000-new-covid-19-cases-1.5260271
Virtual presentation with Cameron Groome 1/7/21
https://www.webcaster4.com/Player/Index?webcastId=39304&g=35598603-00b7-48d4-bd63-6186a437ce1b&uid=6062266&sid=
71,000+ tests in Ontario province.
They come as Ontario's network of labs processed 71,481 test samples for the novel coronavirus and reported a test positivity rate of 6.2 per cent.
Hospitalizations dip, patients in ICU climb
There are now 28,203 confirmed, active cases of the illness provincewide, the most at any point during the pandemic by a considerable margin.
https://www.cbc.ca/news/canada/toronto/covid-19-ontario-january-8-2021-1.5865874
Microbix Biosystems Inc. (MBX.TO) (TSE:MBX) Senior Officer Mark Adrian Luscher bought 28,270 shares of the stock in a transaction that occurred on Tuesday, December 29th. The stock was bought at an average price of C$0.43 per share, with a total value of C$12,014.75. Following the completion of the purchase, the insider now directly owns 159,670 shares in the company, valued at C$67,859.75.
https://www.americanbankingnews.com/2020/12/29/microbix-biosystems-inc-mbx-to-tsembx-senior-officer-mark-adrian-luscher-buys-28270-shares.html
Microbix & Copan Italia Execute Strategic Agreement
https://finance.yahoo.com/news/microbix-copan-italia-execute-strategic-120000385.html
For FLOQ Devices & QAPs Co-branding,
IP licensing, Co-marketing,
Purchase and Supply
MISSISSAUGA, CANADA and BRESCIA, ITALY, December 21, 2020 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, and Copan Italia S.p.A. (Copan®), the global leader in specimen collection technologies, announce their execution of a strategic agreement (Agreement) in relation to Microbix’s quality assessment products (QAPs™) and Copan’s flocked devices (FLOQ®).
The Agreement between Microbix and Copan expands upon an existing purchase and supply contract, adding licensing of Copan’s issued patents for use of flocked devices to format test controls (broadly known as QAPs). Also, it formalizes the parties’ agreement for joint usage of their respective brands for marketing of novel and innovative QAPs – Combining Copan’s well-known FLOQ® brand with Microbix’s emerging PROCEEDx™ (RUO) and REDx™ (IVD) brands – to use PROCEEDx™FLOQ® and REDx™FLOQ® as worldwide branding for active co-marketing of leading-edge FLOQSwab-formatted QAPs by Microbix and Copan.
Twelve such FLOQ-based QAPs SKUs have already been created and introduced into one or more of Australia, Canada, the European Union, Scandinavia, the United States, or the United Kingdom. Of those, fully IVD-regulated REDxFLOQ controls are now available to support lab-based molecular-test workflows for the SARS-CoV-2 virus (the cause of COVID-19 disease). Microbix also intends to license/register REDxFLOQ versions of its growing PROCEEDxFLOQ portfolio, including for workflow support of SARS-CoV-2 antigen testing, Flu A, Flu B, and RSV, then for other pathogen tests for which patient samples are collected on FLOQSwabs. To date, approximately 50,000 units of FLOQSwab-based QAPs have been sold.
Stefania Triva, CEO of Copan, commented, “We’ve been working with the Microbix team for some time now and the mutual trust that has been developed has led to an agreement that will broadly assist the diagnostics industry. Additionally and as a result of our collaboration with Microbix, Copan FLOQ devices are now becoming recognized as the best way of supporting lab quality management system objectives, as much as Copan FLOQSwab-based products are the preferred means of patient-sample collection.”
Cameron Groome, CEO & President of Microbix, remarked, “We’re honoured that Copan is entrusting us to represent the FLOQ brand through our innovative and proprietary QAPs. We believe the collaboration between our companies will improve lab testing accuracy in countries around the world – not just during the current pandemic, but for many decades to come. Also, we thank Stefania and the Copan technical, operational, business, and legal teams for their work on this agreement – it continues to be a pleasure.”
Microbix Reports Results for Fiscal 2020
https://finance.yahoo.com/news/microbix-reports-results-fiscal-2020-123800526.html
67K tests in Ontario yesterday...
Since the start of the pandemic, 7.3 million COVID-19 tests have been completed in Ontario.
There were 67,207 tests completed in the province in the last-recorded 24-hour period.
The province’s positivity rate now stands at 4.2 per cent, up from 3.9 per cent on Friday, according to the Ministry of Health.
https://toronto.ctvnews.ca/ontario-records-more-than-2-300-new-covid-19-cases-27-deaths-1.5238608
Ontario tests close to 60K today
Source: https://www.cbc.ca/news/canada/toron...er-6-1.5830417
Ontario reports record 1,924 new COVID-19 cases on Sunday
701 patients with COVID-19 are now in hospital in the province
CBC News · Posted: Dec 06, 2020 11:41 AM ET | Last Updated: 3 hours ago
Ontario reported a new record high of 1,924 COVID-19 cases on Sunday.
Toronto saw 568 new cases, Peel Region had 477 and York Region had 249. It's the second-straight day that Ontario has broken a record in its daily case count.
The province recorded 15 additional COVID-19 related deaths. Eight of those who died were residents of long-term care homes.
The new deaths mean a total of 3,772 people have died of the virus in Ontario.
There are now 701 patients with COVID-19 in hospitals across the province. Of this number, 204 are in intensive care units and 109 are breathing with the help of ventilators.
Health Minister Christine Elliott said the province's network of labs processed nearly 59,300 tests.
"The spread of COVID-19 has reached a critical point," Elliott wrote on Twitter. "We need everyone to do their part and follow public health advice."...
Canada Swab and VTM market ....
Someone posted this on Stockhouse. I thought it was excellent info. Canada imported $56M of swab/VTM in 2019 (so even without covid). This is reassuring, because I wasn't sure what the size of the market would be when covid dies down.
https://wits.worldbank.org/trade/comtrade/en/country/CAN/year/2019/tradeflow/Imports/partner/ALL/nomen/h5/product/382100
Another 292,152 shares bought by insider this past week ...
Updated Tuesday Dec 01, 2020 03:58 AM EDT
Peter Martin Blecher, a Director, acquired 263,067 Common Shares on a control or direction basis for registered holder 6k1192S Louise Ferrie-Blecher Spousal RRSP at prices ranging from $0.360 to $0.410 between November 24th and 26th, 2020. The insider also acquired 29,085 Common Shares on a control or direction basis for registered holder Peter Blecher RRSP at a price of $0.352 on November 24th, 2020. This represents a $110,185 investment into the company's shares and an account share holdings change of 46.9%.
https://stockhouse.com/companies/bullboard/t.mbx/microbix-biosystems-inc?postid=32014818
Global Swab and Viral Transport Medium Market Overview
Demand in the swab and viral and transport medium market has witnessed remarkable upsurge in the recent past, as the number of tests and laboratory experiments are registering an unprecedented high during the COVID-19 pandemic. While the pandemic is currently acting as a catalyst for market growth, growing emphasis by market players on the development of advanced testing processes such as rapid antigen testing and molecular essay experiments will aid in sustaining demand in the long run. Swab and viral transport medium aid microbiologists in collecting, transporting, and preserving biological samples meant for testing & research purposes. To curb the spread of the infection, governments across the world are working closely with healthcare technology service providers to ensure wide-scale testing of COVID-19 infections.
In addition to the ongoing trend of COVID-19 infection, prevalence of commonly-transmitted diseases such as influenza and herpes will continue to drive demand in the swab and viral transport medium market after the COVID-19 outbreak is contained...
https://www.factmr.com/report/5221/swab-and-viral-transport-medium-market
Microbix mentioned today on BNN Bloomberg Canada today at the 4:15 mark (my first post had the wrong link)
https://www.bnnbloomberg.ca/video/countries-producing-vaccines-will-be-first-in-line-for-distribution-biotech-expert~2083982
More insider buying. A total of 184,000 shares bought his month by insiders.
Insiders
Date Name Shares Traded Value Shares Held
2020-11-23 Marino, Martin 30,000 $10,800.00 450,000
Transaction: Buy in the public market at $0.36 per share
2020-11-20 Marino, Martin 20,000 $7,400.00 420,000
Transaction: Buy in the public market at $0.37 per share
2020-11-13 Hughes, Kenneth 1,000 $348.00 261,500
Transaction: Buy in the public market at $0.35 per share
2020-11-13 Hughes, Kenneth 18,500 $6,475.00 280,000
Transaction: Buy in the public market at $0.35 per share
2020-11-11 Hughes, Kenneth 500 $167.50 260,500
Transaction: Buy in the public market at $0.34 per share
2020-11-10 Groome, Cameron Lionel 14,000 $3,822.00 189,000
Transaction: Buy in the public market at $0.27 per share
2020-11-09 Marino, Martin 50,000 $18,900.00 50,000
Transaction: Buy in the public market at $0.38 per share
2020-11-03 Groome, Cameron Lionel 50,000 $18,000.00 1,000,000
Transaction: Buy in the public market at $0.36 per share
FedDev Ontario funding recipients contribute to COVID-19 testing advancements
Two Ontario-based biotechnology companies are supporting the fight against COVID-19 with innovative new advancements in rapid testing and laboratory workflow and quality control.
Microbix Biosystems Inc., a life sciences innovator based in Mississauga, recently announced the first shipments of a new class of its quality assessment products (QAPsTM). These products are clinically-relevant inactivated controls that maximize workflow accuracy of COVID-19 rapid antigen tests. Microbix has shipped well over a thousand COVID-19 antigen QAP products internationally for testing on numerous test platforms in relevant clinical lab environments. Like Microbix’s PCR test QAPs, the COVID-19 antigen QAPs will be registered and licenced as in vitro diagnostic (IVD) medical devices for worldwide clinical lab use. Until then, they are being sold to lab accreditation agencies and end users for test development and evaluation, test installation and training purposes.
As well, the National Research Council of Canada Industrial Research Assistance Program recently provided Nicoya, a Kitchener-Waterloo-based biotechnology company, with almost $300,000 to develop a portable COVID-19 diagnostic test that will expand testing capabilities in centralized and point-of-care settings such as hospitals, laboratories, clinics and long-term care homes. Nicoya’s innovative new antigen-based rapid test, Atlas, is an inexpensive, single-use portable device that is able to process a saliva sample and upload results to a smartphone app in under 20 minutes.
https://twitter.com/FedDevOntario
Childhood vaccine uptake down 26% this year, report estimates
(This will likely cause a big increase in testing in the next year or two)
Nine million childhood vaccines are projected to be missed by the end of this year in the United States—a 26% decrease compared with 2019—according to a Blue Cross Blue Shield Association (BCBSA) report. This decline would cause a gap between vaccination rate and that required for herd immunity of 4.8 percentage points for measles and 12.7 percentage points for pertussis (whooping cough). Polio would still maintain a 2.9-percentage-point buffer.
According to BCBS medical claims, both measles, mumps, and rubella (MMR) and diphtheria, tetanus, and pertussis (DtaP) childhood vaccination rates dropped 26% January through September year-over-year, with a predicted 2020-end rate of 88.2% and 79.3%, respectively. That compares with herd immunity requirements of 93.0% and 92.0%, respectively, according to the Centers for Disease Control and Prevention.
Polio vaccination rates went down 16% from 2019 and have an 88.9% coverage prediction for 2020, but the BCBSA does not specify why the decline was less for this vaccine.
In a BCBSA survey of 2,000 parents, 40% cited COVID-19 disruptions as the reason they did not complete their child's vaccinations. Most postponements occurred during the pandemic's onset, March through May, and then again in August, when normally vaccinations would be part of the back-to-school routine.
"The U.S. is on the precipice of a severe immunization crisis among children," said Vincent Nelson, MD, BCBSA chief medical officer, in a press release. "The COVID-19 pandemic has significantly interrupted adherence to vaccination schedules, and the possibility that preventable diseases, like polio, could become a threat to public health once again is particularly concerning."
Nov 18 BCBSA press release
Nov 18 BCBSA infographic
More Insider buys (here is the last ten days)
Date Name Shares Traded Value Shares Held
2020-11-13 Hughes, Kenneth 1,000 $348.00 261,500
Transaction: Buy in the public market at $0.35 per share
2020-11-13 Hughes, Kenneth 18,500 $6,475.00 280,000
Transaction: Buy in the public market at $0.35 per share
2020-11-11 Hughes, Kenneth 500 $167.50 260,500
Transaction: Buy in the public market at $0.34 per share
2020-11-10 Groome, Cameron Lionel 14,000 $3,822.00 189,000
Transaction: Buy in the public market at $0.27 per share
2020-11-09 Marino, Martin 50,000 $18,900.00 50,000
Transaction: Buy in the public market at $0.38 per share
2020-11-03 Groome, Cameron Lionel 50,000 $18,000.00 1,000,000
Transaction: Buy in the public market at $0.36 per share
2019 was a terrible year for measles. 2021 could be much worse.
The pandemic is interrupting measles vaccine programs around the world.
By Julia Belluz@juliaoftoronto Nov 12, 2020, 1:00pm EST
https://www.vox.com/21562101/measles-vaccination-covid-pandemic
another similar article ...
https://gizmodo.com/measles-is-back-with-a-vengeance-killed-200-000-in-201-1845659010
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