Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Quince Therapeutics, Inc. (QNCX)
0.8080+0.0180 (+2.28%)
Pre-Market: - 1.3700 +0.5620 (+69.5545%)
I think $3 is possible today:
94.34 (current cash) + 150 ($150 million in regulatory and commercial milestones payments) - 0.420 (debt) = 243 million : 36.13 = $6.75/share
Shares Outstanding 36.13M
Float 27.6M
Total Cash (mrq) 94.34M
Total Debt (mrq) 420k
SOUTH SAN FRANCISCO, Calif., January 27, 2023--(BUSINESS WIRE)--Quince Therapeutics, Inc. (Nasdaq: QNCX), a biopharmaceutical company advancing innovative precision therapeutics targeting debilitating and rare diseases, announced the sale of the company’s legacy small molecule protease inhibitor portfolio, including COR588, COR388, COR852, and COR803, pursuant to an asset purchase agreement with Lighthouse Pharmaceuticals, Inc., an entity co-founded by Casey Lynch, former chief executive officer of Quince’s predecessor company Cortexyme.
Lead compound COR588 is a selective, oral small molecule inhibitor of lysine-gingipain that is Phase 2 ready for further evaluation in the treatment of Alzheimer’s disease with mild to moderate dementia and biomarker evidence of P. gingivalis infection. Precision targeting of gingipains with small molecule inhibitors represents an innovative therapeutic approach to addressing P. gingivalis, a bacterium associated with dementia and other degenerative and inflammatory disorders.
"This transaction represents the fulfillment of our previously stated objective to out-license Quince’s legacy protease inhibitor portfolio," said Dirk Thye, M.D., Quince’s chief executive officer. "We are pleased to transfer these programs to Lighthouse as they have a tremendous amount of expertise, experience, and historical knowledge of the compounds and therapeutic area. Given the role of Lighthouse’s principals in advancing the foundational science and clinical development related to these assets, we believe they are in a strong position to build upon the existing human and preclinical data to advance these compounds."
"This acquisition enables the important continued development of gingipain inhibitors for dementia and other disorders," said Casey Lynch, Lighthouse Pharmaceutical’s chief executive officer. "Informed by the learnings from previous late-stage clinical studies, Lighthouse will move quickly to advance COR588 into key clinical studies to further validate this treatment paradigm and bring innovative treatments to patients."
Highlights of the asset purchase agreement include:
Lighthouse gains exclusive rights to develop, manufacture, and commercialize Quince’s legacy protease inhibitor portfolio globally;
Protease inhibitor portfolio includes lysine- and arginine-gingipain inhibitors COR588, COR388, COR852, in addition to COR803, which is a coronavirus 3CLpro targeted program with demonstrated in vivo efficacy;
Potential for Quince to receive up to $150 million in regulatory and commercial milestones payments on a product-by-product basis, subject to conditions in the agreement;
Potential tiered royalty rates on a product-by-product basis ranging from high single-digit to mid-teens of annual net sales related to the two existing clinical stage programs, and low single-digit royalties for the preclinical programs, subject to conditions in the agreement;
Share of sublicense income or acquisition value of clinical and preclinical assets on a product-by-product basis; and
Quince to receive a 7.5% ownership stake of Lighthouse Common stock with anti-dilution through the first $10 million raised.
Quince expects to benefit from the reduction of more than $500,000 of annualized expenses associated with the operational and financial support of these protease inhibitor assets.
About Quince Therapeutics
Quince Therapeutics is focused on advancing innovative precision therapeutics targeting debilitating and rare diseases. The company discovered a broad bone-targeting drug platform designed to precisely deliver small molecules, peptides, or large molecules directly to the site of bone fracture and disease to promote more rapid healing with fewer off-target safety concerns compared to non-targeted therapeutics. Quince’s discovery pipeline is positioned for rapid expansion across multiple skeletal therapeutic indications to address underserved therapeutic areas with major, unmet medical needs, including osteogenesis imperfecta, fractures, spinal fusion, and other severe bone diseases. The company's lead compound NOV004 is an anabolic peptide engineered to precisely target and concentrate at the bone fracture site, which preclinical studies demonstrate result in rapid increases in bone density, strength, and healing directly at the site of bone fracture. For more information, visit www.quincetx.com and follow Quince Therapeutics on LinkedIn and @Quince_Tx on Twitter.
About Lighthouse Pharmaceuticals
Lighthouse Pharmaceuticals is a clinical stage private biopharmaceutical company pioneering precision medicine approaches to major unmet medical needs based on expertise in small molecule protease inhibition. Lighthouse’s lead program, LHP588, beginning Phase 2 clinical studies, targets a specific, infectious pathogen, Porphyromonas gingivalis, which is associated with chronic degenerative and inflammatory disorders including dementia, periodontal disease, atherosclerosis, and orodigestive cancers. For more information, visit www.lighthousepharma.com.
Quince Therapeutics, Inc. (QNCX)
0.8080+0.0180 (+2.28%)
Pre-Market: - 1.3700 +0.5620 (+69.5545%)
I think $3 is possible today:
94.34 (current cash) + 150 ($150 million in regulatory and commercial milestones payments) - 0.420 (debt) = 243 million : 36.13 = $6.75/share
Shares Outstanding 36.13M
Float 27.6M
Total Cash (mrq) 94.34M
Total Debt (mrq) 420k
SOUTH SAN FRANCISCO, Calif., January 27, 2023--(BUSINESS WIRE)--Quince Therapeutics, Inc. (Nasdaq: QNCX), a biopharmaceutical company advancing innovative precision therapeutics targeting debilitating and rare diseases, announced the sale of the company’s legacy small molecule protease inhibitor portfolio, including COR588, COR388, COR852, and COR803, pursuant to an asset purchase agreement with Lighthouse Pharmaceuticals, Inc., an entity co-founded by Casey Lynch, former chief executive officer of Quince’s predecessor company Cortexyme.
Lead compound COR588 is a selective, oral small molecule inhibitor of lysine-gingipain that is Phase 2 ready for further evaluation in the treatment of Alzheimer’s disease with mild to moderate dementia and biomarker evidence of P. gingivalis infection. Precision targeting of gingipains with small molecule inhibitors represents an innovative therapeutic approach to addressing P. gingivalis, a bacterium associated with dementia and other degenerative and inflammatory disorders.
"This transaction represents the fulfillment of our previously stated objective to out-license Quince’s legacy protease inhibitor portfolio," said Dirk Thye, M.D., Quince’s chief executive officer. "We are pleased to transfer these programs to Lighthouse as they have a tremendous amount of expertise, experience, and historical knowledge of the compounds and therapeutic area. Given the role of Lighthouse’s principals in advancing the foundational science and clinical development related to these assets, we believe they are in a strong position to build upon the existing human and preclinical data to advance these compounds."
"This acquisition enables the important continued development of gingipain inhibitors for dementia and other disorders," said Casey Lynch, Lighthouse Pharmaceutical’s chief executive officer. "Informed by the learnings from previous late-stage clinical studies, Lighthouse will move quickly to advance COR588 into key clinical studies to further validate this treatment paradigm and bring innovative treatments to patients."
Highlights of the asset purchase agreement include:
Lighthouse gains exclusive rights to develop, manufacture, and commercialize Quince’s legacy protease inhibitor portfolio globally;
Protease inhibitor portfolio includes lysine- and arginine-gingipain inhibitors COR588, COR388, COR852, in addition to COR803, which is a coronavirus 3CLpro targeted program with demonstrated in vivo efficacy;
Potential for Quince to receive up to $150 million in regulatory and commercial milestones payments on a product-by-product basis, subject to conditions in the agreement;
Potential tiered royalty rates on a product-by-product basis ranging from high single-digit to mid-teens of annual net sales related to the two existing clinical stage programs, and low single-digit royalties for the preclinical programs, subject to conditions in the agreement;
Share of sublicense income or acquisition value of clinical and preclinical assets on a product-by-product basis; and
Quince to receive a 7.5% ownership stake of Lighthouse Common stock with anti-dilution through the first $10 million raised.
Quince expects to benefit from the reduction of more than $500,000 of annualized expenses associated with the operational and financial support of these protease inhibitor assets.
About Quince Therapeutics
Quince Therapeutics is focused on advancing innovative precision therapeutics targeting debilitating and rare diseases. The company discovered a broad bone-targeting drug platform designed to precisely deliver small molecules, peptides, or large molecules directly to the site of bone fracture and disease to promote more rapid healing with fewer off-target safety concerns compared to non-targeted therapeutics. Quince’s discovery pipeline is positioned for rapid expansion across multiple skeletal therapeutic indications to address underserved therapeutic areas with major, unmet medical needs, including osteogenesis imperfecta, fractures, spinal fusion, and other severe bone diseases. The company's lead compound NOV004 is an anabolic peptide engineered to precisely target and concentrate at the bone fracture site, which preclinical studies demonstrate result in rapid increases in bone density, strength, and healing directly at the site of bone fracture. For more information, visit www.quincetx.com and follow Quince Therapeutics on LinkedIn and @Quince_Tx on Twitter.
About Lighthouse Pharmaceuticals
Lighthouse Pharmaceuticals is a clinical stage private biopharmaceutical company pioneering precision medicine approaches to major unmet medical needs based on expertise in small molecule protease inhibition. Lighthouse’s lead program, LHP588, beginning Phase 2 clinical studies, targets a specific, infectious pathogen, Porphyromonas gingivalis, which is associated with chronic degenerative and inflammatory disorders including dementia, periodontal disease, atherosclerosis, and orodigestive cancers. For more information, visit www.lighthousepharma.com.
$WNBD Follow-up to today's video interview at Emerging Growth Conference: Here is link to Specifications Sheet describing our device to be deployed in grocery stores to build WNBD recurring ad revenue model, shared with supermarkets. GestureTek CUBE Link: https://t.co/2pKW4zeevW pic.twitter.com/ITbgp7IZIx
— Eric Lehner (@WinningCEO) January 25, 2023
$WNBD Follow-up to today's video interview at Emerging Growth Conference: Here is link to Specifications Sheet describing our device to be deployed in grocery stores to build WNBD recurring ad revenue model, shared with supermarkets. GestureTek CUBE Link: https://t.co/2pKW4zeevW pic.twitter.com/ITbgp7IZIx
— Eric Lehner (@WinningCEO) January 25, 2023
WNBD: 0.0004 + 14.29%
52w: 0.0003 - 0.0013
https://goto.webcasts.com/starthere.jsp?ei=1575092&tp_key=9111d280ed&sti=wnbd
1:45 – 2:15
Winning Brands (OTC Pink: WNBD)
Eric Lehner, CEO Winning Brands, Vincent J. Vincent, CEO & Erol Vekil, President of GestureTek
Winning Brands GestureTek Division Begins Video Briefing Series Outlining Huge Goals
NEW YORK, NY / ACCESSWIRE / January 24, 2023 / Winning Brands Corporation (OTC PINK:WNBD) and its new GestureTek Division www.GestureTek.com, www.GestureTekHealth.com have struck an upbeat tone to officially launch their operational union, following the court-approved acquisition of GestureTek by Winning Brands. The tone is "Bold Ambition". In a video conference series starting tomorrow, January 25th, Winning Brands and GestureTek management are daring to envision and target a more than $1 Billion market share for their patented gesture recognition and control technology in coming years.
This would represent a dramatic scale of transformation for Winning Brands and GestureTek. Company management will discuss why such a remarkable goal has a surprisingly solid foundation. WNBD shareholders and company watchers are invited to register (at no charge) at the link below. The company's first 30 minute presentation begins at 1:45 pm Eastern. Follow-up video chats will take place every 2 weeks for 3 months. Registrants will also receive relevant updates subsequently.
Winning Brands' Chairman Eric Lehner comments - "The fact that we are launching a series of pre-scheduled video discussions, rather than just one, demonstrates that we have a lot to share. WNBD stockholders will need time to assimilate the breadth and depth of the new GestureTek dimension of Winning Brands. Winning Brands had been a small company previously. Now, an astute set of arrangements has equipped Winning Brands with breathtaking new opportunity. The goal of our management team is to transform WNBD from less than a million in sales to tens of millions at least, and to take a serious bite out of a multi-billion market in which we have unique advantages. It's an amazing sequence of developments for WNBD, and yet a simple Google search of our name "GestureTek" reveals unmatched sector experience and goodwill. This is an immense due diligence validation. GestureTek's legacy of technical and creative accomplishment is beyond impressive. Now, as part of a public company for the first time, GestureTek's stature will broaden. New dynamic will come from WNBD's public company exposure now and in the future."
ABOUT WINNING BRANDS GESTURETEK
Winning Brands' GestureTek Division is the inventor and early developer of an increasingly hot tech segment that aims to control digital displays and devices through touchless hand and body movements. GestureTek's patented technology has been at the leading edge of innovation in touchless immersive gesture recognition and control of a wide array of visual display systems, across diverse industries. The GestureTek brand is well known and respected in this market, and enjoys a large commercial customer base worldwide. A brief overview of GestureTek's award-winning history in medical and other sectors can be seen in its websites or found in any internet search with the search term "GestureTek".
Company websites include: www.GestureTek.com and www.GestureTekHealth.com. Abundant video resources are also available at https://vimeo.com/search?q=GestureTek.
WNBD: 0.0004 + 14.29%
52w: 0.0003 - 0.0013
https://goto.webcasts.com/starthere.jsp?ei=1575092&tp_key=9111d280ed&sti=wnbd
1:45 – 2:15
Winning Brands (OTC Pink: WNBD)
Eric Lehner, CEO Winning Brands, Vincent J. Vincent, CEO & Erol Vekil, President of GestureTek
Winning Brands GestureTek Division Begins Video Briefing Series Outlining Huge Goals
NEW YORK, NY / ACCESSWIRE / January 24, 2023 / Winning Brands Corporation (OTC PINK:WNBD) and its new GestureTek Division www.GestureTek.com, www.GestureTekHealth.com have struck an upbeat tone to officially launch their operational union, following the court-approved acquisition of GestureTek by Winning Brands. The tone is "Bold Ambition". In a video conference series starting tomorrow, January 25th, Winning Brands and GestureTek management are daring to envision and target a more than $1 Billion market share for their patented gesture recognition and control technology in coming years.
This would represent a dramatic scale of transformation for Winning Brands and GestureTek. Company management will discuss why such a remarkable goal has a surprisingly solid foundation. WNBD shareholders and company watchers are invited to register (at no charge) at the link below. The company's first 30 minute presentation begins at 1:45 pm Eastern. Follow-up video chats will take place every 2 weeks for 3 months. Registrants will also receive relevant updates subsequently.
Winning Brands' Chairman Eric Lehner comments - "The fact that we are launching a series of pre-scheduled video discussions, rather than just one, demonstrates that we have a lot to share. WNBD stockholders will need time to assimilate the breadth and depth of the new GestureTek dimension of Winning Brands. Winning Brands had been a small company previously. Now, an astute set of arrangements has equipped Winning Brands with breathtaking new opportunity. The goal of our management team is to transform WNBD from less than a million in sales to tens of millions at least, and to take a serious bite out of a multi-billion market in which we have unique advantages. It's an amazing sequence of developments for WNBD, and yet a simple Google search of our name "GestureTek" reveals unmatched sector experience and goodwill. This is an immense due diligence validation. GestureTek's legacy of technical and creative accomplishment is beyond impressive. Now, as part of a public company for the first time, GestureTek's stature will broaden. New dynamic will come from WNBD's public company exposure now and in the future."
ABOUT WINNING BRANDS GESTURETEK
Winning Brands' GestureTek Division is the inventor and early developer of an increasingly hot tech segment that aims to control digital displays and devices through touchless hand and body movements. GestureTek's patented technology has been at the leading edge of innovation in touchless immersive gesture recognition and control of a wide array of visual display systems, across diverse industries. The GestureTek brand is well known and respected in this market, and enjoys a large commercial customer base worldwide. A brief overview of GestureTek's award-winning history in medical and other sectors can be seen in its websites or found in any internet search with the search term "GestureTek".
Company websites include: www.GestureTek.com and www.GestureTekHealth.com. Abundant video resources are also available at https://vimeo.com/search?q=GestureTek.
HBRM: 0.0002
Proprietary AI Platform, New Partnerships and New “Natural & Clinical Hybrid” products will drive the value creation in 2023; Further improvement in Cap Table to increase Shareholders valuation
Houston, Texas, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Herborium® Group, Inc. (OTC Pink: HBRM), www.Herborium.com, www.acnease.com a Botanical Therapeutics® Company and the provider of proprietary all botanical medicinal products (Botanical Therapeutics®) and interactive advanced content platform targeting dermatological and other health and wellness concerns, shares a Shareholders Update Letter Part 2 from the CEO, Dr. Agnes Olszewski.
To Our Valued Shareholders
Following last week’s Shareholder Letter Part 1, this Part 2 is to present the major focus for 2023 and beyond. This Plan stems from the analysis of lead market and scientific trends that are reshaping our space, and grounded in previously reported changes and advancements made in 2022.
New Products
One of the most important trends in the healthcare and beauty sectors is the merger of clinical skincare with natural skincare to create clinically validated “hybrid” products that actually work while maintaining their natural ingredient profile.
Herborium’s acne treatment represents such a unique product. We are presently working on the second generation of this clinically validated skincare solution that has a better consumer characteristics (broader application and simpler treatment routine) and improved business profile (increased margins)
The Company is also approaching the most advance science in clinical skincare- stem cell based products. We are working to add two highly innovative products in this category, to our 2023 product portfolio
New Partners
Since Herborium has a well established customer base and strong brand recognition, the most economic and expedient way to access innovative products is partnership with the product originators. We are presently in advanced talks with two companies – one from the US and a second from South Korea that is well known in cosmetic and skin wellness industry for high quality biotechnological applications in skincare.
New Platform
As reported in Part 1 of Shareholders Letter, Herborium already commenced the transformation process from A Product Company to A Content & Product Player in the Sector of Natural Skincare and Wellness. As the demand for natural, safe, and sustainable products is here to stay – the important and challenging advances involve blending natural scientific know-how and traditional medical know how (information) in this field and provide it in a user friendly manner to professionals and end users alike. This creates value added to the customer and additional revenues streams (paid counseling in skincare, beauty, nutrition etc.) for the Company.
We expect to progress aggressively with completing and launching this AI (Artificial Intelligence ) driven platform in 2023
Keeping an Eye on Shareholder Value
By harnessing the growing use of technology and the Company’s perfect fit in a rapidly expending domestic and global market for natural healthcare products (USD166 Billion in 2023; projected USD 347.5 Billion globally in 2029), Herborium® expects to further increase shareholder value. Furthermore, we plan to continue our efforts to minimize debt, control dilution, increase profitability and decrease cost.- all to further improve Corporate’ valuation and shareholder value.
About Herborium Group, Inc.
Herborium Group, Inc. is a botanical therapeutics® company that develops, licenses and markets proprietary, botanical based medicinal products to consumers and healthcare professionals. The Company’s business model focuses on emerging market opportunities spearheaded by the growth of a new market sector located between high-cost, high-risk, ethical pharmaceuticals and commoditized classic nutraceuticals (supplements). The Company uses clinical validation and a proactive regulatory strategy based to establish and maintain a differential advantage. Herborium has secured a pipeline of botanical ingredients based products Herborium Group sells its products in the United States, the United Kingdom, and continental Europe through a network of distributors, specialty retailers, and e-commerce.
For more information, please visit www.herborium.com, www.acnease.com , www.acnease.fr, and www.acnease.eu
HBRM: 0.0002
Proprietary AI Platform, New Partnerships and New “Natural & Clinical Hybrid” products will drive the value creation in 2023; Further improvement in Cap Table to increase Shareholders valuation
Houston, Texas, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Herborium® Group, Inc. (OTC Pink: HBRM), www.Herborium.com, www.acnease.com a Botanical Therapeutics® Company and the provider of proprietary all botanical medicinal products (Botanical Therapeutics®) and interactive advanced content platform targeting dermatological and other health and wellness concerns, shares a Shareholders Update Letter Part 2 from the CEO, Dr. Agnes Olszewski.
To Our Valued Shareholders
Following last week’s Shareholder Letter Part 1, this Part 2 is to present the major focus for 2023 and beyond. This Plan stems from the analysis of lead market and scientific trends that are reshaping our space, and grounded in previously reported changes and advancements made in 2022.
New Products
One of the most important trends in the healthcare and beauty sectors is the merger of clinical skincare with natural skincare to create clinically validated “hybrid” products that actually work while maintaining their natural ingredient profile.
Herborium’s acne treatment represents such a unique product. We are presently working on the second generation of this clinically validated skincare solution that has a better consumer characteristics (broader application and simpler treatment routine) and improved business profile (increased margins)
The Company is also approaching the most advance science in clinical skincare- stem cell based products. We are working to add two highly innovative products in this category, to our 2023 product portfolio
New Partners
Since Herborium has a well established customer base and strong brand recognition, the most economic and expedient way to access innovative products is partnership with the product originators. We are presently in advanced talks with two companies – one from the US and a second from South Korea that is well known in cosmetic and skin wellness industry for high quality biotechnological applications in skincare.
New Platform
As reported in Part 1 of Shareholders Letter, Herborium already commenced the transformation process from A Product Company to A Content & Product Player in the Sector of Natural Skincare and Wellness. As the demand for natural, safe, and sustainable products is here to stay – the important and challenging advances involve blending natural scientific know-how and traditional medical know how (information) in this field and provide it in a user friendly manner to professionals and end users alike. This creates value added to the customer and additional revenues streams (paid counseling in skincare, beauty, nutrition etc.) for the Company.
We expect to progress aggressively with completing and launching this AI (Artificial Intelligence ) driven platform in 2023
Keeping an Eye on Shareholder Value
By harnessing the growing use of technology and the Company’s perfect fit in a rapidly expending domestic and global market for natural healthcare products (USD166 Billion in 2023; projected USD 347.5 Billion globally in 2029), Herborium® expects to further increase shareholder value. Furthermore, we plan to continue our efforts to minimize debt, control dilution, increase profitability and decrease cost.- all to further improve Corporate’ valuation and shareholder value.
About Herborium Group, Inc.
Herborium Group, Inc. is a botanical therapeutics® company that develops, licenses and markets proprietary, botanical based medicinal products to consumers and healthcare professionals. The Company’s business model focuses on emerging market opportunities spearheaded by the growth of a new market sector located between high-cost, high-risk, ethical pharmaceuticals and commoditized classic nutraceuticals (supplements). The Company uses clinical validation and a proactive regulatory strategy based to establish and maintain a differential advantage. Herborium has secured a pipeline of botanical ingredients based products Herborium Group sells its products in the United States, the United Kingdom, and continental Europe through a network of distributors, specialty retailers, and e-commerce.
For more information, please visit www.herborium.com, www.acnease.com , www.acnease.fr, and www.acnease.eu
wnbd: 0.0003
52w 0.0003 - 0.0013
Bold Ambition by Winning Brands/GestureTek on Display at Emerging Growth Video Conference
Tuesday, January 24, 2023 7:11 AM
Winning Brands GestureTek Division Begins Video Briefing Series Outlining Huge Goals
NEW YORK, NY / ACCESSWIRE / January 24, 2023 / Winning Brands Corporation (OTC PINK:WNBD) and its new GestureTek Division www.GestureTek.com, www.GestureTekHealth.com have struck an upbeat tone to officially launch their operational union, following the court-approved acquisition of GestureTek by Winning Brands. The tone is "Bold Ambition". In a video conference series starting tomorrow, January 25th, Winning Brands and GestureTek management are daring to envision and target a more than $1 Billion market share for their patented gesture recognition and control technology in coming years.
This would represent a dramatic scale of transformation for Winning Brands and GestureTek. Company management will discuss why such a remarkable goal has a surprisingly solid foundation. WNBD shareholders and company watchers are invited to register (at no charge) at the link below. The company's first 30 minute presentation begins at 1:45 pm Eastern. Follow-up video chats will take place every 2 weeks for 3 months. Registrants will also receive relevant updates subsequently.
REGISTRATION LINK:
https://goto.webcasts.com/starthere.jsp?ei=1575092&tp_key=9111d280ed&sti=wnbd
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available at https://emerginggrowth.com/ and on the Emerging Growth YouTube Channel,https://www.youtube.com/EmergingGrowthConference. A link will be released after the event.
Winning Brands' Chairman Eric Lehner comments - "The fact that we are launching a series of pre-scheduled video discussions, rather than just one, demonstrates that we have a lot to share. WNBD stockholders will need time to assimilate the breadth and depth of the new GestureTek dimension of Winning Brands. Winning Brands had been a small company previously. Now, an astute set of arrangements has equipped Winning Brands with breathtaking new opportunity. The goal of our management team is to transform WNBD from less than a million in sales to tens of millions at least, and to take a serious bite out of a multi-billion market in which we have unique advantages. It's an amazing sequence of developments for WNBD, and yet a simple Google search of our name "GestureTek" reveals unmatched sector experience and goodwill. This is an immense due diligence validation. GestureTek's legacy of technical and creative accomplishment is beyond impressive. Now, as part of a public company for the first time, GestureTek's stature will broaden. New dynamic will come from WNBD's public company exposure now and in the future."
ABOUT WINNING BRANDS GESTURETEK
Winning Brands' GestureTek Division is the inventor and early developer of an increasingly hot tech segment that aims to control digital displays and devices through touchless hand and body movements. GestureTek's patented technology has been at the leading edge of innovation in touchless immersive gesture recognition and control of a wide array of visual display systems, across diverse industries. The GestureTek brand is well known and respected in this market, and enjoys a large commercial customer base worldwide. A brief overview of GestureTek's award-winning history in medical and other sectors can be seen in its websites or found in any internet search with the search term "GestureTek".
Company websites include:https://www.gesturetek.com/ and https://gesturetekhealth.com/. Abundant video resources are also available at https://vimeo.com/search?q=GestureTek.
Photo Caption:
Four GestureTek CUBEv5 units cleverly embedded into cross sections of Roman columns at the Pennsylvania Capitol Centre delivered a "wow" effect for visitor interactions, in an earlier display. GestureTek is now a division of Winning Brands (OTC:WNBD).
About the Emerging Growth Conference
The Emerging Growth conference is a premier communications platform for public companies that are listed on various stock exchanges in order to present their new products, services and make major announcements.
The Conference coverage includes companies in a wide range of sectors, with strong management teams, innovative products & services, focused strategy, execution, and potential for long term growth. The cumulative audience size of The Emerging Growth Conference has surpassed many thousands of individual and institutional investors, advisors, analysts and members of the media.
MEDIA CONTACTS:
Winning Brands Administration Eric Lehner, CEO
+1 705-737-4062 ext. 8, eric@winningbrands.ca
GestureTek Business Enquiries Vincent J. Vincent, CEO
+1 416-340-9290, vincent@gesturetek.com
WNBD: 0.0003
52w: 0.0003 - 0.0013
Big news this week
$WNBD Hello Shaunzy - I am right here. Days ago I announced first ever videocast updates beginning January 25th. Preparing to move into new facilities. Now, announcements starting about 2023 GestureTek business initiatives. Huge positives to WNBD from this acquisition coming. https://t.co/JmCUVzaxkL
— Eric Lehner (@WinningCEO) January 12, 2023
WNBD: 0.0003
52w: 0.0003 - 0.0013
Big news this week
$WNBD Hello Shaunzy - I am right here. Days ago I announced first ever videocast updates beginning January 25th. Preparing to move into new facilities. Now, announcements starting about 2023 GestureTek business initiatives. Huge positives to WNBD from this acquisition coming. https://t.co/JmCUVzaxkL
— Eric Lehner (@WinningCEO) January 12, 2023
HBRM: 0.0002
Time for a strong rebound
Increased Revenues and Reduced Debt (through retiring Notes) in 2022 Establish the Foundation for the Company’s Transformative Growth in 2023
Houston, Texas, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Herborium® Group, Inc. (OTC Pink: HBRM), www.Herborium.com, www.acnease.com a Botanical Therapeutics® Company and the provider of proprietary all botanical medicinal products (Botanical Therapeutics®) and interactive advanced content platform targeting dermatological and other health and wellness concerns, shares a Shareholders Update Letter Part 1 from the CEO, Dr. Agnes Olszewski.
To Our Valued Shareholders
As the most difficult two years in a history of our Nation, communities and businesses, marked by Covid pandemic can finally be seen in the rear mirror we are collectively facing new challenges and new opportunities both in the USA and on the world stage. This is why I feel it is important to provide a separate update on the 2022 and Corporate Milestones we achieved, and than –in a separate document share our plans, strategies and opportunities for 2023 and beyond.
We at Herborium feel that in a world full of uncertainties it is appropriate to share updates on the solid foundation we built to enable the Company to adapt to the changing environment encountered in 2022, and to secure our ability to evolve and grow to assure continuous increases in shareholders value. In Shareholders Update Part 2 we will present our plans for 2023
2022 Milestones
Keeping The Course: Despite the disruptions and dislocations caused by the Covid epidemic, Herborium® was able to not merely survive but actually advance its programs during these challenging times. We harnessed two major trends resulted from the pandemic that are here to stay: a). the growing use of technology in all aspects of life including healthcare, wellness and beauty (Herborium’s present market sectors), b). growing interest in natural, holistic and integrated approach to all aspects of healthcare (Including health, wellness and beauty) . These values have been represented by and powered Herborium’s® Mission since the Company’s inception.
Growing Revenues: Herborium’s® financial results improved. Our revenues grew 8.5% in comparison to 2021 surpassing the $1 Million threshold. All four quarters this year were profitable thanks to further reduction in the operational costs.
No Dilution: Furthermore -the growth was self perpetuated without any further dilution.
Debt Reduction: Company’s efforts to reduce debt was achieved by over $110,000 in retired friendly Notes. As a micro-cap company this prevented the issuance of hundred of millions of new shares.
Company Ranking: In 2022 Herborium was the subject of a positive Research Report by the Independent Financial Analyst . In addition, HBRM has been classified as the highest tier company on OTC and has been qualified among the most desirable trading tickers on OTC due to its historical and continued commitment to compliance, ease of electronic stock management and clean regulatory records.
New Products: As a part of our commitment to continue to satisfy consumer needs and improve profitability – the Company commenced a complicated process of developing a second generation of AcnEase its lead acne and Rosace Botanical Therapeutic®. We expect to complete this process in 2023. This next generation, all natural product should provide for more convenient pattern of use, lower cost ( higher margin) and broader application options.
Entering the Artificial Intelligence(AI) Medical, Wellness and Beauty Space: As Covid Pandemic accelerated some specific healthcare , consumer and technology trends, specifically the personalization and individualization of information, diagnosis and advisement as well as marketing use of AI technology, Herborium enter this space in 2022 through partnering with ADRECOM INC. an innovative, multinational technology group specializing in developing propriety AI technologies to create a muti-faced, proprietary AI marketing and counseling platform in the space of skin health, wellness and beauty focus on the natural medicinal ingredients and know how. The first stage of designing this platform was completed and is ready for launch and testing in 2023.
ESG: 2022 saw a further increased focus on the ‘environmental, social, and governance’ (“ESG”) movement, though this far from new to us here at Herborium. As a woman-led company offering natural, environmentally sustainable solutions that provides value for a diverse group of stakeholders, ‘ESG’ has always been part of our ‘DNA’
Investors Relations : We have marked 2022 by more tweets , press releases and on going communication with Shareholders that in the previous years. As there is always place for improvement, we are certainly committed to further improve those efforts in 2023.
The Second Part of The Shareholders Letter will be released sbefore the end of January and will focus on the 2023 opportunities, plans and strategies
About Herborium Group, Inc.
Herborium Group, Inc. is a botanical therapeutics® company that develops, licenses and markets proprietary, botanical based medicinal products to consumers and healthcare professionals. The Company’s business model focuses on emerging market opportunities spearheaded by the growth of a new market sector located between high-cost, high-risk, ethical pharmaceuticals and commoditized classic nutraceuticals (supplements). The Company uses clinical validation and a proactive regulatory strategy based to establish and maintain a differential advantage. Herborium has secured a pipeline of botanical ingredients based products Herborium Group sells its products in the United States, the United Kingdom, and continental Europe through a network of distributors, specialty retailers, and e-commerce.
For more information, please visit www.herborium.com, www.acnease.com , www.acnease.fr, and www.acnease.eu
HBRM: 0.0002
Time for a strong rebound
Increased Revenues and Reduced Debt (through retiring Notes) in 2022 Establish the Foundation for the Company’s Transformative Growth in 2023
Houston, Texas, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Herborium® Group, Inc. (OTC Pink: HBRM), www.Herborium.com, www.acnease.com a Botanical Therapeutics® Company and the provider of proprietary all botanical medicinal products (Botanical Therapeutics®) and interactive advanced content platform targeting dermatological and other health and wellness concerns, shares a Shareholders Update Letter Part 1 from the CEO, Dr. Agnes Olszewski.
To Our Valued Shareholders
As the most difficult two years in a history of our Nation, communities and businesses, marked by Covid pandemic can finally be seen in the rear mirror we are collectively facing new challenges and new opportunities both in the USA and on the world stage. This is why I feel it is important to provide a separate update on the 2022 and Corporate Milestones we achieved, and than –in a separate document share our plans, strategies and opportunities for 2023 and beyond.
We at Herborium feel that in a world full of uncertainties it is appropriate to share updates on the solid foundation we built to enable the Company to adapt to the changing environment encountered in 2022, and to secure our ability to evolve and grow to assure continuous increases in shareholders value. In Shareholders Update Part 2 we will present our plans for 2023
2022 Milestones
Keeping The Course: Despite the disruptions and dislocations caused by the Covid epidemic, Herborium® was able to not merely survive but actually advance its programs during these challenging times. We harnessed two major trends resulted from the pandemic that are here to stay: a). the growing use of technology in all aspects of life including healthcare, wellness and beauty (Herborium’s present market sectors), b). growing interest in natural, holistic and integrated approach to all aspects of healthcare (Including health, wellness and beauty) . These values have been represented by and powered Herborium’s® Mission since the Company’s inception.
Growing Revenues: Herborium’s® financial results improved. Our revenues grew 8.5% in comparison to 2021 surpassing the $1 Million threshold. All four quarters this year were profitable thanks to further reduction in the operational costs.
No Dilution: Furthermore -the growth was self perpetuated without any further dilution.
Debt Reduction: Company’s efforts to reduce debt was achieved by over $110,000 in retired friendly Notes. As a micro-cap company this prevented the issuance of hundred of millions of new shares.
Company Ranking: In 2022 Herborium was the subject of a positive Research Report by the Independent Financial Analyst . In addition, HBRM has been classified as the highest tier company on OTC and has been qualified among the most desirable trading tickers on OTC due to its historical and continued commitment to compliance, ease of electronic stock management and clean regulatory records.
New Products: As a part of our commitment to continue to satisfy consumer needs and improve profitability – the Company commenced a complicated process of developing a second generation of AcnEase its lead acne and Rosace Botanical Therapeutic®. We expect to complete this process in 2023. This next generation, all natural product should provide for more convenient pattern of use, lower cost ( higher margin) and broader application options.
Entering the Artificial Intelligence(AI) Medical, Wellness and Beauty Space: As Covid Pandemic accelerated some specific healthcare , consumer and technology trends, specifically the personalization and individualization of information, diagnosis and advisement as well as marketing use of AI technology, Herborium enter this space in 2022 through partnering with ADRECOM INC. an innovative, multinational technology group specializing in developing propriety AI technologies to create a muti-faced, proprietary AI marketing and counseling platform in the space of skin health, wellness and beauty focus on the natural medicinal ingredients and know how. The first stage of designing this platform was completed and is ready for launch and testing in 2023.
ESG: 2022 saw a further increased focus on the ‘environmental, social, and governance’ (“ESG”) movement, though this far from new to us here at Herborium. As a woman-led company offering natural, environmentally sustainable solutions that provides value for a diverse group of stakeholders, ‘ESG’ has always been part of our ‘DNA’
Investors Relations : We have marked 2022 by more tweets , press releases and on going communication with Shareholders that in the previous years. As there is always place for improvement, we are certainly committed to further improve those efforts in 2023.
The Second Part of The Shareholders Letter will be released sbefore the end of January and will focus on the 2023 opportunities, plans and strategies
About Herborium Group, Inc.
Herborium Group, Inc. is a botanical therapeutics® company that develops, licenses and markets proprietary, botanical based medicinal products to consumers and healthcare professionals. The Company’s business model focuses on emerging market opportunities spearheaded by the growth of a new market sector located between high-cost, high-risk, ethical pharmaceuticals and commoditized classic nutraceuticals (supplements). The Company uses clinical validation and a proactive regulatory strategy based to establish and maintain a differential advantage. Herborium has secured a pipeline of botanical ingredients based products Herborium Group sells its products in the United States, the United Kingdom, and continental Europe through a network of distributors, specialty retailers, and e-commerce.
For more information, please visit www.herborium.com, www.acnease.com , www.acnease.fr, and www.acnease.eu
JAGUAR HEALTH (JAGX) : 0.1007 + 11.89%
Pre-Market High $0.1603 + 59.18%
JAGUAR HEALTH, INC. (NASDAQ:JAGX) Jaguar Health to Hold Investor Webcast Thursday, January 12th at 10:30 AM EST to Highlight Unmet Medical Need of Cancer Therapy-related Diarrhea and Jaguar's Mental Health Entheogen Therapeutics Initiative (ETI) to Discover Novel Therapies Derived from Ps
The webcast will include:
Commentary from leading breast cancer medical oncologist and hematologist Lee Schwartzberg, MD, FACP on the unmet need for a focused and biological approach to the management of cancer therapy-related diarrhea
A presentation by ethnobotanist, anthropologist, bestselling author and former National Geographic Explorer-in-Residence Dr. Wade Davis about the history and traditional uses of psychoactive plants and their potential to treat unmet mental health needs
Click here to register for webcast
SAN FRANCISCO, CA / ACCESSWIRE / January 10, 2023 / Jaguar Health, Inc. (NASDAQ:JAGX) today announced that the company will conduct an investor webcast on Thursday, January 12, 2023 at 10:30 a.m. Eastern Standard Time to highlight the high unmet need associated with cancer therapy-related diarrhea (CTD). The webcast will include highlights of recently recorded commentary from Lee Schwartzberg, MD, FACP, a renowned breast cancer oncologist, on the unmet need for a focused and biological approach to the management of cancer therapy-related diarrhea.
Dr. Schwartzberg, a leading breast cancer medical oncologist and hematologist, serves as Chief of Medical Oncology and Hematology at the Renown Health-William N. Pennington Cancer Institute in Reno, Nevada and formerly served as Executive Director of the West Clinic in Memphis, Tennessee.
The webcast will also provide updates regarding the company's mental health Entheogen Therapeutics Initiative (ETI) to discover novel, therapeutic opportunities derived from psychoactive plants. Ethnobotanist, anthropologist, bestselling author and former National Geographic Explorer-in-Residence Wade Davis, PhD, a Professor of Anthropology and the Leadership Chair in Cultures and Ecosystems at Risk at the University of British Columbia, will join the webcast to speak about the history and traditional uses of psychoactive plants and their potential to treat unmet mental health needs.
Participation Instructions for Webcast
When: Thursday, January 12, 2023 at 10:30 AM Eastern Standard Time
Participant Registration & Access Link: Click Here
About Cancer Therapy-related Diarrhea
A significant proportion of patients undergoing cancer therapy experience diarrhea, and diarrhea has the potential to cause dehydration, potential infections, and non-adherence to treatment in this population. Novel "targeted cancer therapy" agents, such as epidermal growth factor receptor (EGFR) antibodies and tyrosine kinase inhibitors (TKIs), with or without cycle chemotherapy agents, may cause increased electrolyte and fluid content in the gut lumen, which results in passage of loose/watery stools (i.e., diarrhea). Diarrhea has been reported as one of the most common side effects of TKIs and may result in cancer therapy drug holidays or reductions from therapeutic dose, potentially impacting patient outcome. Diarrhea is also a common side effect of some approved CDK 4/6 inhibitors.
About Jaguar Health, Napo Pharmaceuticals, Napo Therapeutics & Jaguar Animal Health
Jaguar Health, Inc. is a commercial stage pharmaceuticals company focused on developing novel, plant-based, non-opioid, and sustainably derived prescription medicines for people and animals with GI distress, including chronic, debilitating diarrhea. Jaguar Health's wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based human pharmaceuticals from plants harvested responsibly from rainforest areas. Our crofelemer drug product candidate is the subject of the OnTarget study, an ongoing pivotal Phase 3 clinical trial for prophylaxis of diarrhea in adult cancer patients receiving targeted therapy. Jaguar Health is the majority shareholder of Napo Therapeutics S.p.A. (f/k/a Napo EU S.p.A.), an Italian corporation established by Jaguar Health in Milan, Italy in 2021 that focuses on expanding crofelemer access in Europe. Jaguar Animal Health is a tradename of Jaguar Health.
For more information about Jaguar Health, please visit https://jaguar.health. For more information about Napo Pharmaceuticals, visit www.napopharma.com.
JAGUAR HEALTH (JAGX) : 0.1007 + 11.89%
Pre-Market High $0.1603 + 59.18%
JAGUAR HEALTH, INC. (NASDAQ:JAGX) Jaguar Health to Hold Investor Webcast Thursday, January 12th at 10:30 AM EST to Highlight Unmet Medical Need of Cancer Therapy-related Diarrhea and Jaguar's Mental Health Entheogen Therapeutics Initiative (ETI) to Discover Novel Therapies Derived from Ps
The webcast will include:
Commentary from leading breast cancer medical oncologist and hematologist Lee Schwartzberg, MD, FACP on the unmet need for a focused and biological approach to the management of cancer therapy-related diarrhea
A presentation by ethnobotanist, anthropologist, bestselling author and former National Geographic Explorer-in-Residence Dr. Wade Davis about the history and traditional uses of psychoactive plants and their potential to treat unmet mental health needs
Click here to register for webcast
SAN FRANCISCO, CA / ACCESSWIRE / January 10, 2023 / Jaguar Health, Inc. (NASDAQ:JAGX) today announced that the company will conduct an investor webcast on Thursday, January 12, 2023 at 10:30 a.m. Eastern Standard Time to highlight the high unmet need associated with cancer therapy-related diarrhea (CTD). The webcast will include highlights of recently recorded commentary from Lee Schwartzberg, MD, FACP, a renowned breast cancer oncologist, on the unmet need for a focused and biological approach to the management of cancer therapy-related diarrhea.
Dr. Schwartzberg, a leading breast cancer medical oncologist and hematologist, serves as Chief of Medical Oncology and Hematology at the Renown Health-William N. Pennington Cancer Institute in Reno, Nevada and formerly served as Executive Director of the West Clinic in Memphis, Tennessee.
The webcast will also provide updates regarding the company's mental health Entheogen Therapeutics Initiative (ETI) to discover novel, therapeutic opportunities derived from psychoactive plants. Ethnobotanist, anthropologist, bestselling author and former National Geographic Explorer-in-Residence Wade Davis, PhD, a Professor of Anthropology and the Leadership Chair in Cultures and Ecosystems at Risk at the University of British Columbia, will join the webcast to speak about the history and traditional uses of psychoactive plants and their potential to treat unmet mental health needs.
Participation Instructions for Webcast
When: Thursday, January 12, 2023 at 10:30 AM Eastern Standard Time
Participant Registration & Access Link: Click Here
About Cancer Therapy-related Diarrhea
A significant proportion of patients undergoing cancer therapy experience diarrhea, and diarrhea has the potential to cause dehydration, potential infections, and non-adherence to treatment in this population. Novel "targeted cancer therapy" agents, such as epidermal growth factor receptor (EGFR) antibodies and tyrosine kinase inhibitors (TKIs), with or without cycle chemotherapy agents, may cause increased electrolyte and fluid content in the gut lumen, which results in passage of loose/watery stools (i.e., diarrhea). Diarrhea has been reported as one of the most common side effects of TKIs and may result in cancer therapy drug holidays or reductions from therapeutic dose, potentially impacting patient outcome. Diarrhea is also a common side effect of some approved CDK 4/6 inhibitors.
About Jaguar Health, Napo Pharmaceuticals, Napo Therapeutics & Jaguar Animal Health
Jaguar Health, Inc. is a commercial stage pharmaceuticals company focused on developing novel, plant-based, non-opioid, and sustainably derived prescription medicines for people and animals with GI distress, including chronic, debilitating diarrhea. Jaguar Health's wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based human pharmaceuticals from plants harvested responsibly from rainforest areas. Our crofelemer drug product candidate is the subject of the OnTarget study, an ongoing pivotal Phase 3 clinical trial for prophylaxis of diarrhea in adult cancer patients receiving targeted therapy. Jaguar Health is the majority shareholder of Napo Therapeutics S.p.A. (f/k/a Napo EU S.p.A.), an Italian corporation established by Jaguar Health in Milan, Italy in 2021 that focuses on expanding crofelemer access in Europe. Jaguar Animal Health is a tradename of Jaguar Health.
For more information about Jaguar Health, please visit https://jaguar.health. For more information about Napo Pharmaceuticals, visit www.napopharma.com.
HBRM: 0.0003 + 50%
Time for a strong rebound
Herborium (OTC: HBRM)
@Herborium1
It is time to share - the summary and lessons of the past, and hopes and opportunities for the future. Look for the updates next week $HBRM
4:05 p.m. · Jan 06, 2023
https://www.acnease.com/
Herborium Group, Inc., is a novel botanical therapeutics' company focused on developing, licensing, and marketing of proprietary, botanical based medicinal products, targeting unmet medical needs. The Company responds to both consumers and healthcare professionals demand for safe, efficacious, all natural medicinal options for treatment and prevention of selected diseases and health concerns.
HBRM: 0.0003 + 50%
Time for a strong rebound
Herborium (OTC: HBRM)
@Herborium1
It is time to share - the summary and lessons of the past, and hopes and opportunities for the future. Look for the updates next week $HBRM
4:05 p.m. · Jan 06, 2023
https://www.acnease.com/
Herborium Group, Inc., is a novel botanical therapeutics' company focused on developing, licensing, and marketing of proprietary, botanical based medicinal products, targeting unmet medical needs. The Company responds to both consumers and healthcare professionals demand for safe, efficacious, all natural medicinal options for treatment and prevention of selected diseases and health concerns.
TREVENA (TRVN) : 1.78
52w: 1.50 - 18.99
Total Cash (mrq) 40.39M
Total Cash Per Share (mrq) 5.81
Shares Outstanding 6.95M
https://www.trevena.com/pipeline
New Phase 1 clinical study designed to build on nonclinical evidence of anti-inflammatory signaling and potential disease-modifying effect of TRV045 in the treatment of epilepsy and other CNS disorders
TRV045, a novel S1P receptor modulator, is highly specific for S1PR subtype 1 and reported no lymphopenia in a prior Phase 1 clinical study
CHESTERBROOK, Pa., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Trevena, Inc. (Nasdaq: TRVN), a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders, today announced the enrollment of the first subject in a Phase 1 proof-of-concept study of TRV045, a novel sphingosine-1-phosphate receptor modulator selective for the S1P receptor subtype 1.
The Phase 1 clinical study is a randomized, double-blind, placebo-controlled, four-way cross-over study designed to test the mechanism of action and measure evidence of target engagement for TRV045. The study will use a validated set of analgesic tests to evaluate potential central and peripheral nervous system effects and to provide insight into the potential anti-inflammatory actions of TRV045. Twenty-four healthy volunteers will be enrolled and each subject will receive three different single doses of TRV045 (50mg, 150mg and 300mg) and placebo on four separate visits across the study duration. Doses for this study were selected based on the PK exposure determined in the recently completed Phase 1 single and multiple dose ranging study, and bracket the expected targeted efficacy exposure range. Subjects will be enrolled at sites outside of the United States and the study is not being conducted under the Investigational New Drug Application (IND) for TRV045.
The first subject in the trial was dosed in December 2022 and the study is expected to complete enrollment by mid-2023.
“We believe TRV045 represents an innovative, non-opioid based approach to the treatment of pain, and has also shown promising anti-inflammatory data in nonclinical models, suggesting a potential disease-modifying role in other CNS disorders,” said Carrie Bourdow, President and CEO of Trevena. “We look forward to reporting topline data from this target engagement study, which will help inform our future development path for TRV045.”
About TRV045
TRV045 is a novel, selective sphingosine-1-phosphate subtype 1 (S1P1) receptor modulator being developed as a potential treatment for acute and chronic neuropathic pain secondary to diabetic peripheral neuropathy. Through a collaboration with the National Institutes of Health, Trevena is also exploring TRV045 as a potential treatment for epilepsy.
S1P receptors are located throughout the body, including the central nervous system, where they are believed to play a role in modulating neurotransmission, neuroinflammatory processes, and membrane excitability.
Trevena's discovery efforts have identified a family of compounds that are highly selective for the S1P1 receptor. TRV045 reversed thermal hyperalgesia, a measure of neuropathic pain, in nonclinical models of diabetic peripheral neuropathy and chemotherapy-induced peripheral neuropathy. TRV045 was not associated with lymphopenia and produced no changes in blood pressure, heart rate, or respiratory function at or above pharmacologically active doses in nonclinical studies. TRV045 is an investigational drug and has not been approved by the FDA.
About Trevena
Trevena, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative medicines for patients with CNS disorders. The Company has one approved product in the United States, OLINVYK® (oliceridine) injection, indicated in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. The Company’s novel pipeline is based on Nobel Prize winning research and includes three differentiated investigational drug candidates: TRV045 for diabetic neuropathic pain and epilepsy, TRV250 for the acute treatment of migraine and TRV734 for maintenance treatment of opioid use disorder.
For more information, please visit www.Trevena.com
Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for the Company, including statements about the Company’s strategy, future operations, clinical development and trials of its therapeutic candidates, plans for potential future product candidates and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “suggest,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the status, timing, costs, results and interpretation of the Company’s clinical trials or any future trials of any of the Company’s investigational drug candidates; the uncertainties inherent in conducting clinical trials; expectations for regulatory interactions, submissions and approvals, including the Company’s assessment of discussions with FDA; available funding; uncertainties related to the Company’s intellectual property; uncertainties related to the ongoing COVID-19 pandemic, other matters that could affect the availability or commercial potential of the Company’s therapeutic candidates and approved product; and other factors discussed in the Risk Factors set forth in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC) and in other filings the Company makes with the SEC from time to time. In addition, the forward-looking statements included in this press release represent the Company’s views only as of the date hereof. The Company anticipates that subsequent events and developments may cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, except as may be required by law.
For more information, please contact:
Investor Contact:
Dan Ferry
Managing Director
LifeSci Advisors, LLC
daniel@lifesciadvisors.com
(617) 430-7576
Trevena Inc. is a biopharmaceutical company. The Company is focused on developing and commercializing medicines for patients affected by central nervous system (CNS) disorders. It is developing OLINVYK, a G-protein biased MOR ligand for acute pain in adults. It is developing TRV027, an angiotensin II type 1 (AT1), receptor selective agonist, for the treatment of acute lung injury contributing to acute respiratory distress syndrome (ARDS), and abnormal blood clotting in patients with COVID-19. It is developing TRV250, a G-protein biased delta-opioid receptor (DOR), is developed for the treatment of acute migraine. The Company is focused on exploring other formulations, such as transmucosal or transdermal administration for breakthrough or chronic pain, respectively. The Company is in the Phase III clinical program for OLINVO with the enrollment of patients in the ATHENA study, a Phase III, open-label, multicenter study.
TREVENA (TRVN) : 1.78
52w: 1.50 - 18.99
Total Cash (mrq) 40.39M
Total Cash Per Share (mrq) 5.81
Shares Outstanding 6.95M
https://www.trevena.com/pipeline
New Phase 1 clinical study designed to build on nonclinical evidence of anti-inflammatory signaling and potential disease-modifying effect of TRV045 in the treatment of epilepsy and other CNS disorders
TRV045, a novel S1P receptor modulator, is highly specific for S1PR subtype 1 and reported no lymphopenia in a prior Phase 1 clinical study
CHESTERBROOK, Pa., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Trevena, Inc. (Nasdaq: TRVN), a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders, today announced the enrollment of the first subject in a Phase 1 proof-of-concept study of TRV045, a novel sphingosine-1-phosphate receptor modulator selective for the S1P receptor subtype 1.
The Phase 1 clinical study is a randomized, double-blind, placebo-controlled, four-way cross-over study designed to test the mechanism of action and measure evidence of target engagement for TRV045. The study will use a validated set of analgesic tests to evaluate potential central and peripheral nervous system effects and to provide insight into the potential anti-inflammatory actions of TRV045. Twenty-four healthy volunteers will be enrolled and each subject will receive three different single doses of TRV045 (50mg, 150mg and 300mg) and placebo on four separate visits across the study duration. Doses for this study were selected based on the PK exposure determined in the recently completed Phase 1 single and multiple dose ranging study, and bracket the expected targeted efficacy exposure range. Subjects will be enrolled at sites outside of the United States and the study is not being conducted under the Investigational New Drug Application (IND) for TRV045.
The first subject in the trial was dosed in December 2022 and the study is expected to complete enrollment by mid-2023.
“We believe TRV045 represents an innovative, non-opioid based approach to the treatment of pain, and has also shown promising anti-inflammatory data in nonclinical models, suggesting a potential disease-modifying role in other CNS disorders,” said Carrie Bourdow, President and CEO of Trevena. “We look forward to reporting topline data from this target engagement study, which will help inform our future development path for TRV045.”
About TRV045
TRV045 is a novel, selective sphingosine-1-phosphate subtype 1 (S1P1) receptor modulator being developed as a potential treatment for acute and chronic neuropathic pain secondary to diabetic peripheral neuropathy. Through a collaboration with the National Institutes of Health, Trevena is also exploring TRV045 as a potential treatment for epilepsy.
S1P receptors are located throughout the body, including the central nervous system, where they are believed to play a role in modulating neurotransmission, neuroinflammatory processes, and membrane excitability.
Trevena's discovery efforts have identified a family of compounds that are highly selective for the S1P1 receptor. TRV045 reversed thermal hyperalgesia, a measure of neuropathic pain, in nonclinical models of diabetic peripheral neuropathy and chemotherapy-induced peripheral neuropathy. TRV045 was not associated with lymphopenia and produced no changes in blood pressure, heart rate, or respiratory function at or above pharmacologically active doses in nonclinical studies. TRV045 is an investigational drug and has not been approved by the FDA.
About Trevena
Trevena, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative medicines for patients with CNS disorders. The Company has one approved product in the United States, OLINVYK® (oliceridine) injection, indicated in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. The Company’s novel pipeline is based on Nobel Prize winning research and includes three differentiated investigational drug candidates: TRV045 for diabetic neuropathic pain and epilepsy, TRV250 for the acute treatment of migraine and TRV734 for maintenance treatment of opioid use disorder.
For more information, please visit www.Trevena.com
Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for the Company, including statements about the Company’s strategy, future operations, clinical development and trials of its therapeutic candidates, plans for potential future product candidates and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “suggest,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the status, timing, costs, results and interpretation of the Company’s clinical trials or any future trials of any of the Company’s investigational drug candidates; the uncertainties inherent in conducting clinical trials; expectations for regulatory interactions, submissions and approvals, including the Company’s assessment of discussions with FDA; available funding; uncertainties related to the Company’s intellectual property; uncertainties related to the ongoing COVID-19 pandemic, other matters that could affect the availability or commercial potential of the Company’s therapeutic candidates and approved product; and other factors discussed in the Risk Factors set forth in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC) and in other filings the Company makes with the SEC from time to time. In addition, the forward-looking statements included in this press release represent the Company’s views only as of the date hereof. The Company anticipates that subsequent events and developments may cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, except as may be required by law.
For more information, please contact:
Investor Contact:
Dan Ferry
Managing Director
LifeSci Advisors, LLC
daniel@lifesciadvisors.com
(617) 430-7576
Trevena Inc. is a biopharmaceutical company. The Company is focused on developing and commercializing medicines for patients affected by central nervous system (CNS) disorders. It is developing OLINVYK, a G-protein biased MOR ligand for acute pain in adults. It is developing TRV027, an angiotensin II type 1 (AT1), receptor selective agonist, for the treatment of acute lung injury contributing to acute respiratory distress syndrome (ARDS), and abnormal blood clotting in patients with COVID-19. It is developing TRV250, a G-protein biased delta-opioid receptor (DOR), is developed for the treatment of acute migraine. The Company is focused on exploring other formulations, such as transmucosal or transdermal administration for breakthrough or chronic pain, respectively. The Company is in the Phase III clinical program for OLINVO with the enrollment of patients in the ATHENA study, a Phase III, open-label, multicenter study.
Spruce Biosciences, Inc. (SPRB) : 2.9700 +1.7200 (+137.6000%)
I hope at least 3.5 today and 5 this month.
Spruce Biosciences, Inc. (SPRB) : 2.9700 +1.7200 (+137.6000%)
I hope at least 3.5 today and 5 this month.
TREVENA (TRVN) : 1.83 + 8.93%
52w: 1.50 - 18.99
Total Cash (mrq) 40.39M
Total Cash Per Share (mrq) 5.81
Shares Outstanding 6.95M
https://www.trevena.com/pipeline
Trevena Inc. is a biopharmaceutical company. The Company is focused on developing and commercializing medicines for patients affected by central nervous system (CNS) disorders. It is developing OLINVYK, a G-protein biased MOR ligand for acute pain in adults. It is developing TRV027, an angiotensin II type 1 (AT1), receptor selective agonist, for the treatment of acute lung injury contributing to acute respiratory distress syndrome (ARDS), and abnormal blood clotting in patients with COVID-19. It is developing TRV250, a G-protein biased delta-opioid receptor (DOR), is developed for the treatment of acute migraine. The Company is focused on exploring other formulations, such as transmucosal or transdermal administration for breakthrough or chronic pain, respectively. The Company is in the Phase III clinical program for OLINVO with the enrollment of patients in the ATHENA study, a Phase III, open-label, multicenter study.
TREVENA (TRVN) : 1.83 + 8.93%
52w: 1.50 - 18.99
Total Cash (mrq) 40.39M
Total Cash Per Share (mrq) 5.81
Shares Outstanding 6.95M
https://www.trevena.com/pipeline
Trevena Inc. is a biopharmaceutical company. The Company is focused on developing and commercializing medicines for patients affected by central nervous system (CNS) disorders. It is developing OLINVYK, a G-protein biased MOR ligand for acute pain in adults. It is developing TRV027, an angiotensin II type 1 (AT1), receptor selective agonist, for the treatment of acute lung injury contributing to acute respiratory distress syndrome (ARDS), and abnormal blood clotting in patients with COVID-19. It is developing TRV250, a G-protein biased delta-opioid receptor (DOR), is developed for the treatment of acute migraine. The Company is focused on exploring other formulations, such as transmucosal or transdermal administration for breakthrough or chronic pain, respectively. The Company is in the Phase III clinical program for OLINVO with the enrollment of patients in the ATHENA study, a Phase III, open-label, multicenter study.
Very high potential
Spruce Biosciences, Inc. (SPRB) 1.2500+0.0200 (+1.63%)
After hours: 2.65 + 1.40 (+112%)
Volume: 3,133,700
Shares Outstanding 23.56M
Float 6.32M
Total Cash (mrq) 90.4M
Cash, Cash Equivalents and Investments: Cash, cash equivalents and short-term investments as of September 30, 2022, were $90.4 million.
Total Cash Per Share (mrq) 3.84
Total Debt (mrq) 6.29M
Spruce Biosciences and Kaken Pharmaceutical Announce Strategic Partnership and Exclusive Licensing Agreement to Develop and Commercialize Tildacerfont for CAH in Japan
Partnership aims to accelerate global development and commercialization plans for tildacerfont to address worldwide unmet medical need in congenital adrenal hyperplasia (CAH)
Deal advances strategy to partner tildacerfont commercial rights outside the United States
Spruce to receive $15 million upfront payment plus development and commercial milestone payments in addition to tiered double-digit royalties on net sales in Japan
SOUTH SAN FRANCISCO, Calif. & TOKYO, January 05, 2023--(BUSINESS WIRE)--Spruce Biosciences, Inc. (Nasdaq: SPRB) and Kaken Pharmaceutical Co. Ltd (Tokyo Stock Exchange: 4521) today announced that the companies have entered into an exclusive licensing agreement for the development and commercialization of Spruce’s product candidate, tildacerfont, for the treatment of congenial adrenal hyperplasia (CAH) in Japan.
Under the terms of the agreement, Spruce will receive an upfront payment of $15 million from Kaken and will be eligible to receive additional payments upon the achievement of future development and commercial milestones, as well as tiered double-digit royalties on net sales in Japan. Kaken will be responsible for the clinical development and commercialization of tildacerfont in Japan, and Spruce will retain all rights to tildacerfont in all other geographies. As part of the agreement, Kaken will have the first right of negotiation to expand the scope of the agreement to include China (including Hong Kong, Taiwan, and Macau), South Korea and other specified Southeastern Asian (ASEAN) countries. Kaken will also be responsible for securing and maintaining regulatory approvals necessary to market and sell tildacerfont in Japan.
"We are excited to enter into this strategic partnership with Kaken Pharmaceutical designed to accelerate our global development plans and bring tildacerfont to patients in Japan who suffer from CAH," said Javier Szwarcberg, M.D., M.P.H., Chief Executive Officer of Spruce Biosciences. "As a specialty pharmaceutical company with a strong presence in Japan, Kaken is the ideal strategic partner for the territory, and supports Spruce’s partnering strategy to develop tildacerfont in markets outside of the United States. We believe Kaken’s track record of development and commercialization in the Asia-Pacific region will be instrumental in delivering the full therapeutic potential of tildacerfont and bringing a new treatment option to CAH patients in Japan, if approved."
"We are pleased to begin a collaboration with Spruce, a company committed to transforming the lives of patients with CAH," said Hiroyuki Horiuchi, President and Representative Director of Kaken. "Through this collaboration, we hope we can contribute to CAH patients and their families, who currently have limited available treatment options in Japan."
About Tildacerfont
Tildacerfont is a potent and highly selective, non-steroidal, oral antagonist of the corticotropin-releasing factor (CRF) 1 receptor. The CRF1 receptor is abundantly expressed in the pituitary gland where it is the primary regulator of the hypothalamic-pituitary-adrenal (HPA) axis. By antagonizing the CRF1 receptor, tildacerfont has the potential to address the uncontrolled cortisol feedback regulatory pathway in CAH, and in turn reduce the production of adrenocorticotropic hormone (ACTH) in the pituitary, limiting the amount of androgen produced downstream from the adrenal gland. Tildacerfont has been evaluated in 235 patients across eight clinical trials in which it has been generally well tolerated. No drug-related serious adverse events have been reported across completed clinical trials. Tildacerfont is currently being evaluated in clinical trials for adult classic CAH, pediatric classic CAH, and polycystic ovary syndrome.
About Spruce Biosciences
Spruce Biosciences is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need. Spruce is initially developing its wholly-owned product candidate, tildacerfont, as the potential first non-steroidal therapy for patients suffering from classic congenital adrenal hyperplasia (CAH). Spruce is also developing tildacerfont for women suffering from polycystic ovary syndrome (PCOS) with primary adrenal androgen excess. To learn more, visit www.sprucebiosciences.com and follow Spruce on Twitter @Spruce_Bio, LinkedIn, Facebook and YouTube.
About Kaken Pharmaceutical
Kaken Pharmaceutical is a specialty pharmaceutical company in Japan with strong experience in developing and commercializing novel pharmaceuticals in the fields of orthopedics and dermatology. Kaken concentrates its R&D resources in areas such as immune system, nervous system, infectious diseases and rare diseases with unmet medical needs. Kaken, in its philosophy, strives to improve the quality of life of patients through the development and distribution of superior pharmaceuticals. For further information, visit www.kaken.co.jp/english.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the terms and conditions of the collaboration and license agreement, including Spruce’s receipt of milestone and royalty payments; the design to accelerate Spruce’s global development plans and bring tildacerfont to patients in Japan who suffer from CAH; the ability of Kaken to develop and commercialize tildacerfont in Japan; and the potential benefits of tildacerfont for use in patients with CAH. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "will", "believe", "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Spruce’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Spruce’s business in general, the impact of geopolitical and macroeconomic events, including the COVID-19 pandemic, and the other risks described in Spruce’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Spruce undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230105005941/en/
Very high potential
Spruce Biosciences, Inc. (SPRB) 1.2500+0.0200 (+1.63%)
After hours: 2.65 + 1.40 (+112%)
Volume: 3,133,700
Shares Outstanding 23.56M
Float 6.32M
Total Cash (mrq) 90.4M
Cash, Cash Equivalents and Investments: Cash, cash equivalents and short-term investments as of September 30, 2022, were $90.4 million.
Total Cash Per Share (mrq) 3.84
Total Debt (mrq) 6.29M
Spruce Biosciences and Kaken Pharmaceutical Announce Strategic Partnership and Exclusive Licensing Agreement to Develop and Commercialize Tildacerfont for CAH in Japan
Partnership aims to accelerate global development and commercialization plans for tildacerfont to address worldwide unmet medical need in congenital adrenal hyperplasia (CAH)
Deal advances strategy to partner tildacerfont commercial rights outside the United States
Spruce to receive $15 million upfront payment plus development and commercial milestone payments in addition to tiered double-digit royalties on net sales in Japan
SOUTH SAN FRANCISCO, Calif. & TOKYO, January 05, 2023--(BUSINESS WIRE)--Spruce Biosciences, Inc. (Nasdaq: SPRB) and Kaken Pharmaceutical Co. Ltd (Tokyo Stock Exchange: 4521) today announced that the companies have entered into an exclusive licensing agreement for the development and commercialization of Spruce’s product candidate, tildacerfont, for the treatment of congenial adrenal hyperplasia (CAH) in Japan.
Under the terms of the agreement, Spruce will receive an upfront payment of $15 million from Kaken and will be eligible to receive additional payments upon the achievement of future development and commercial milestones, as well as tiered double-digit royalties on net sales in Japan. Kaken will be responsible for the clinical development and commercialization of tildacerfont in Japan, and Spruce will retain all rights to tildacerfont in all other geographies. As part of the agreement, Kaken will have the first right of negotiation to expand the scope of the agreement to include China (including Hong Kong, Taiwan, and Macau), South Korea and other specified Southeastern Asian (ASEAN) countries. Kaken will also be responsible for securing and maintaining regulatory approvals necessary to market and sell tildacerfont in Japan.
"We are excited to enter into this strategic partnership with Kaken Pharmaceutical designed to accelerate our global development plans and bring tildacerfont to patients in Japan who suffer from CAH," said Javier Szwarcberg, M.D., M.P.H., Chief Executive Officer of Spruce Biosciences. "As a specialty pharmaceutical company with a strong presence in Japan, Kaken is the ideal strategic partner for the territory, and supports Spruce’s partnering strategy to develop tildacerfont in markets outside of the United States. We believe Kaken’s track record of development and commercialization in the Asia-Pacific region will be instrumental in delivering the full therapeutic potential of tildacerfont and bringing a new treatment option to CAH patients in Japan, if approved."
"We are pleased to begin a collaboration with Spruce, a company committed to transforming the lives of patients with CAH," said Hiroyuki Horiuchi, President and Representative Director of Kaken. "Through this collaboration, we hope we can contribute to CAH patients and their families, who currently have limited available treatment options in Japan."
About Tildacerfont
Tildacerfont is a potent and highly selective, non-steroidal, oral antagonist of the corticotropin-releasing factor (CRF) 1 receptor. The CRF1 receptor is abundantly expressed in the pituitary gland where it is the primary regulator of the hypothalamic-pituitary-adrenal (HPA) axis. By antagonizing the CRF1 receptor, tildacerfont has the potential to address the uncontrolled cortisol feedback regulatory pathway in CAH, and in turn reduce the production of adrenocorticotropic hormone (ACTH) in the pituitary, limiting the amount of androgen produced downstream from the adrenal gland. Tildacerfont has been evaluated in 235 patients across eight clinical trials in which it has been generally well tolerated. No drug-related serious adverse events have been reported across completed clinical trials. Tildacerfont is currently being evaluated in clinical trials for adult classic CAH, pediatric classic CAH, and polycystic ovary syndrome.
About Spruce Biosciences
Spruce Biosciences is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need. Spruce is initially developing its wholly-owned product candidate, tildacerfont, as the potential first non-steroidal therapy for patients suffering from classic congenital adrenal hyperplasia (CAH). Spruce is also developing tildacerfont for women suffering from polycystic ovary syndrome (PCOS) with primary adrenal androgen excess. To learn more, visit www.sprucebiosciences.com and follow Spruce on Twitter @Spruce_Bio, LinkedIn, Facebook and YouTube.
About Kaken Pharmaceutical
Kaken Pharmaceutical is a specialty pharmaceutical company in Japan with strong experience in developing and commercializing novel pharmaceuticals in the fields of orthopedics and dermatology. Kaken concentrates its R&D resources in areas such as immune system, nervous system, infectious diseases and rare diseases with unmet medical needs. Kaken, in its philosophy, strives to improve the quality of life of patients through the development and distribution of superior pharmaceuticals. For further information, visit www.kaken.co.jp/english.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the terms and conditions of the collaboration and license agreement, including Spruce’s receipt of milestone and royalty payments; the design to accelerate Spruce’s global development plans and bring tildacerfont to patients in Japan who suffer from CAH; the ability of Kaken to develop and commercialize tildacerfont in Japan; and the potential benefits of tildacerfont for use in patients with CAH. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "will", "believe", "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Spruce’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Spruce’s business in general, the impact of geopolitical and macroeconomic events, including the COVID-19 pandemic, and the other risks described in Spruce’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Spruce undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230105005941/en/
VASCULAR BIOGENICS LTD 0,146 2.102.987 8,23%
High volume, back to 0.25 this month?
Jan 01, 2023 0.1200 0.1370 0.1200 0.1350 0.1350 1,132,700
Dec 01, 2022 0.1570 0.1650 0.1010 0.1200 0.1200 29,656,700
Oct 31, 2022 0.1350 0.1710 0.1080 0.1600 0.1600 28,561,600
Sep 30, 2022 0.1600 0.1780 0.1250 0.1390 0.1390 18,875,200
Aug 31, 2022 0.2200 0.2260 0.1450 0.1550 0.1550 43,144,000
Jul 31, 2022 0.2250 0.2740 0.2010 0.2250 0.2250 108,125,200
Jun 30, 2022 1.6140 2.2000 0.2160 0.2200 0.2200 113,787,00
VASCULAR BIOGENICS LTD 0,146 2.102.987 8,23%
High volume, back to 0.25 this month?
Jan 01, 2023 0.1200 0.1370 0.1200 0.1350 0.1350 1,132,700
Dec 01, 2022 0.1570 0.1650 0.1010 0.1200 0.1200 29,656,700
Oct 31, 2022 0.1350 0.1710 0.1080 0.1600 0.1600 28,561,600
Sep 30, 2022 0.1600 0.1780 0.1250 0.1390 0.1390 18,875,200
Aug 31, 2022 0.2200 0.2260 0.1450 0.1550 0.1550 43,144,000
Jul 31, 2022 0.2250 0.2740 0.2010 0.2250 0.2250 108,125,200
Jun 30, 2022 1.6140 2.2000 0.2160 0.2200 0.2200 113,787,00
Time for a strong rebound:
Taoping Inc. (TAOP) premarktet :0.8201 +0.10 (+13.90%)
Shares Outstanding 15.59M
Float 10.77M
http://en.taop.com/
Taoping Inc. provides cloud-based platform, resource sharing, and big data solutions to the Chinese new media, education residential community management, and elevator Internet of Things (IoT) industries in the People's Republic of China. It operates through three segments: Cloud-Based Technology, Blockchain Technology, and Traditional Information Technology. The company offers cloud-based software as a service to automate the interactive workflows between advertising agencies and their customers, including establishing new advertising projects, submitting advertisement proposals, revising and approving advertising proposals, processing payment online, remotely uploading advertisement content, and tracking and analyzing performance data. It also provides project-based technology products and services for the public sector; and software and hardware with integrated solutions, including information technology infrastructure, Internet-enabled display technologies, and IoT platforms to customers in government, education, residential community management, media, transportation, healthcare, and other private sectors, as well as related maintenance and support services. In addition, the company offers cloud-application-terminal and IoT technology based digital advertising distribution network and media resource sharing platform in the out-of-home advertising markets. Further, it operates Taoping Net, an advertising-resources trading service platform, which connect screen owners, advertisers, and consumers; Taoping App, which enable customers to distribute and manage ads from mobile terminals; and cryptocurrency mining and blockchain related services. The company was formerly known as China Information Technology, Inc. and changed its name to Taoping Inc. in June 2018. Taoping Inc. was founded in 1993 and is headquartered in Causeway Bay, Hong Kong.
Time for a strong rebound:
Taoping Inc. (TAOP) premarktet :0.8201 +0.10 (+13.90%)
Shares Outstanding 15.59M
Float 10.77M
http://en.taop.com/
Taoping Inc. provides cloud-based platform, resource sharing, and big data solutions to the Chinese new media, education residential community management, and elevator Internet of Things (IoT) industries in the People's Republic of China. It operates through three segments: Cloud-Based Technology, Blockchain Technology, and Traditional Information Technology. The company offers cloud-based software as a service to automate the interactive workflows between advertising agencies and their customers, including establishing new advertising projects, submitting advertisement proposals, revising and approving advertising proposals, processing payment online, remotely uploading advertisement content, and tracking and analyzing performance data. It also provides project-based technology products and services for the public sector; and software and hardware with integrated solutions, including information technology infrastructure, Internet-enabled display technologies, and IoT platforms to customers in government, education, residential community management, media, transportation, healthcare, and other private sectors, as well as related maintenance and support services. In addition, the company offers cloud-application-terminal and IoT technology based digital advertising distribution network and media resource sharing platform in the out-of-home advertising markets. Further, it operates Taoping Net, an advertising-resources trading service platform, which connect screen owners, advertisers, and consumers; Taoping App, which enable customers to distribute and manage ads from mobile terminals; and cryptocurrency mining and blockchain related services. The company was formerly known as China Information Technology, Inc. and changed its name to Taoping Inc. in June 2018. Taoping Inc. was founded in 1993 and is headquartered in Causeway Bay, Hong Kong.
Vascular Biogenics Ltd. (VBLT): 0.1348 +0.0148 (+12.33%)
Shares Outstanding 69.75M
mktcap less than 10 million
52w: 0.1080 - 2.2898
https://ir.vblrx.com/static-files/0b08ff67-0438-4e8a-a832-7f6877f75613
Continued progress on previously announced strategic process to maximize shareholder value
BL Therapeutics (Nasdaq: VBLT), a clinical stage biotechnology company developing targeted medicines for immune-inflammatory diseases, announced financial results for the third quarter ended September 30, 2022, and provided a corporate update.
“VBL’s management team and board continue to make good progress on the evaluation of strategic options for the company’s assets, including the GMP manufacturing facility and VB-601 program, with the goal of maximizing shareholder value,” said Dror Harats, M.D., Chief Executive Officer of VBL. “We recently submitted our regulatory filings for a first-in-human clinical trial for the VB-601 program, and expect to initiate this trial in the first quarter of 2023, subject to the outcome of our strategic process.”
Third Quarter Highlights
Filed a regulatory submission to the Israel Ministry of Health and institutional review board to conduct a Phase 1 first-in-human trial for its lead immunology product candidate,VB-601, a targeted antibody for immune-inflammatory applications.
Retained Chardan Capital to act as financial advisor to explore and evaluate strategic options for maximizing shareholder value.
Took steps to preserve capital, including the workforce reduction and ceasing internal development of ofra-vec.
Financial Results for the Third Quarter of 2022
At September 30, 2022, VBL had cash, cash equivalents, short-term bank deposits and restricted bank deposits of $27.7 million. VBL expects that its cash, cash equivalents, short-term bank deposits, and restricted bank deposits will be sufficient to fund currently planned operating expenses and capital expenditures for at least twelve months. VBL’s ongoing review of its strategic options and any transactions resulting from such review may impact this projection.
About VBL Therapeutics
VBL Therapeutics (Nasdaq: VBLT) is developing targeted therapies for immune-inflammatory diseases. VBL’s lead immunology product candidate VB-601 is a targeted antibody for immune-inflammatory applications that has shown disease-modifying activity across multiple preclinical models including multiple sclerosis, rheumatoid arthritis and inflammatory bowel disease. At present, VBL is evaluating options for development of its assets, which may include partnering and other strategic options. To learn more about VBL, please visit vblrx.com or follow VBL on LinkedIn, Twitter, YouTube or Facebook.
Vascular Biogenics Ltd. (VBLT): 0.1348 +0.0148 (+12.33%)
Shares Outstanding 69.75M
mktcap less than 10 million
52w: 0.1080 - 2.2898
https://ir.vblrx.com/static-files/0b08ff67-0438-4e8a-a832-7f6877f75613
Continued progress on previously announced strategic process to maximize shareholder value
BL Therapeutics (Nasdaq: VBLT), a clinical stage biotechnology company developing targeted medicines for immune-inflammatory diseases, announced financial results for the third quarter ended September 30, 2022, and provided a corporate update.
“VBL’s management team and board continue to make good progress on the evaluation of strategic options for the company’s assets, including the GMP manufacturing facility and VB-601 program, with the goal of maximizing shareholder value,” said Dror Harats, M.D., Chief Executive Officer of VBL. “We recently submitted our regulatory filings for a first-in-human clinical trial for the VB-601 program, and expect to initiate this trial in the first quarter of 2023, subject to the outcome of our strategic process.”
Third Quarter Highlights
Filed a regulatory submission to the Israel Ministry of Health and institutional review board to conduct a Phase 1 first-in-human trial for its lead immunology product candidate,VB-601, a targeted antibody for immune-inflammatory applications.
Retained Chardan Capital to act as financial advisor to explore and evaluate strategic options for maximizing shareholder value.
Took steps to preserve capital, including the workforce reduction and ceasing internal development of ofra-vec.
Financial Results for the Third Quarter of 2022
At September 30, 2022, VBL had cash, cash equivalents, short-term bank deposits and restricted bank deposits of $27.7 million. VBL expects that its cash, cash equivalents, short-term bank deposits, and restricted bank deposits will be sufficient to fund currently planned operating expenses and capital expenditures for at least twelve months. VBL’s ongoing review of its strategic options and any transactions resulting from such review may impact this projection.
About VBL Therapeutics
VBL Therapeutics (Nasdaq: VBLT) is developing targeted therapies for immune-inflammatory diseases. VBL’s lead immunology product candidate VB-601 is a targeted antibody for immune-inflammatory applications that has shown disease-modifying activity across multiple preclinical models including multiple sclerosis, rheumatoid arthritis and inflammatory bowel disease. At present, VBL is evaluating options for development of its assets, which may include partnering and other strategic options. To learn more about VBL, please visit vblrx.com or follow VBL on LinkedIn, Twitter, YouTube or Facebook.
Strong buy:
Quince Therapeutics, Inc. (QNCX) : 0.72 + 12.96%
52 Week Range 0.56 - 14.6000
September 30, 2022
Cash and cash equivalents $ 31,809
Short term investments 62,534
Prepaid expenses and other current assets 3,933
Total current assets 98,276
Property and equipment, net 375
Operating lease right-of-use assets, net 208
Long term investments 5,001
Intangible asset 5,900
Other assets 17
Total assets $ 109,777
Current liabilities:
Accounts payable $ 1,181
Accrued expenses and other current liabilities 3,764
Total current liabilities 4,945
Long-term financing lease liabilities 19
Long-term operating lease liabilities 34
Deferred tax liabilities 248
Total liabilities 5,246
As of December 27, the registrant had 36,130,306 shares of common stock
Total assets $ 109,777 - Total liabilities 5,246 : 36,130,306 shares of common stock = 2.894/ share.
Quince Therapeutics, Inc., a biopharmaceutical company, focuses on advancing precision therapeutics for debilitating and rare diseases. The company has discovered a broad bone-targeting drug platform to precisely deliver small molecules, peptides, or large molecules directly to the site of bone fracture and disease. Its lead compound is NOV004, an anabolic peptide engineered to precisely target and concentrate at the bone fracture site The company was formerly known as Cortexyme, Inc. and changed its name to Quince Therapeutics, Inc. in August 2022. Quince Therapeutics, Inc. was incorporated in 2012 and is headquartered in South San Francisco, California.
Strong buy:
Quince Therapeutics, Inc. (QNCX) : 0.72 + 12.96%
52 Week Range 0.56 - 14.6000
September 30, 2022
Cash and cash equivalents $ 31,809
Short term investments 62,534
Prepaid expenses and other current assets 3,933
Total current assets 98,276
Property and equipment, net 375
Operating lease right-of-use assets, net 208
Long term investments 5,001
Intangible asset 5,900
Other assets 17
Total assets $ 109,777
Current liabilities:
Accounts payable $ 1,181
Accrued expenses and other current liabilities 3,764
Total current liabilities 4,945
Long-term financing lease liabilities 19
Long-term operating lease liabilities 34
Deferred tax liabilities 248
Total liabilities 5,246
As of December 27, the registrant had 36,130,306 shares of common stock
Total assets $ 109,777 - Total liabilities 5,246 : 36,130,306 shares of common stock = 2.894/ share.
Quince Therapeutics, Inc., a biopharmaceutical company, focuses on advancing precision therapeutics for debilitating and rare diseases. The company has discovered a broad bone-targeting drug platform to precisely deliver small molecules, peptides, or large molecules directly to the site of bone fracture and disease. Its lead compound is NOV004, an anabolic peptide engineered to precisely target and concentrate at the bone fracture site The company was formerly known as Cortexyme, Inc. and changed its name to Quince Therapeutics, Inc. in August 2022. Quince Therapeutics, Inc. was incorporated in 2012 and is headquartered in South San Francisco, California.
Orchard Therapeutics plc (ORTX) 0.4362+0.0652 (+17.57%)
52 Week Range 0.3600 - 1.5200
market cap $48 million trading massive under Cash balance of $147 million ,company has approved drug in Europe ,US-Bla filing expected during this Quarter with potential FDA approval in Q3 or Q4 if approved the company can sell their priority review voucher for around $100 million , ortx has another Phase 3 ready drug in pipeline .STRONG BUY
Orchard Therapeutics plc, a biopharmaceutical company, develops gene therapies for serious and life-threatening rare diseases in the United Kingdom, European Union, and the United States. The company's gene therapy approach seeks to transform a patient's hematopoietic stem cells into a gene-modified cellular drug product to treat the patient's disease through a single administration. It provides Strimvelis, a gammaretroviral-based product for the treatment of adenosine deaminase-severe combined immunodeficiency (ADA-SCID). The company's clinical development products comprise OTL-101 for the treatment of ADA-SCID; OTL-200 to treat metachromatic leukodystrophy; OTL-103 for the treatment of Wiskott-Aldrich syndrome; OTL-102 for X-linked chronic granulomatous disease; and OTL-300 for transfusion-dependent beta-thalassemia. Its preclinical programs include OTL-203 for mucopolysaccharidosis type I, OTL-201 for mucopolysaccharidosis type MPS-IIIA, and OTL-202 for mucopolysaccharidosis type IIIB. It has a strategic collaboration agreement with Pharming Group N.V. for research, development, manufacturing, and commercialization of OTL-105, an investigational ex vivo autologous hematopoietic stem cell gene therapy for the treatment of hereditary angioedema. The company was formerly known as Orchard Rx Limited. Orchard Therapeutics plc was founded in 2015 and is headquartered in London, the United Kingdom.
Orchard Therapeutics plc (ORTX) 0.4362+0.0652 (+17.57%)
52 Week Range 0.3600 - 1.5200
market cap $48 million trading massive under Cash balance of $147 million ,company has approved drug in Europe ,US-Bla filing expected during this Quarter with potential FDA approval in Q3 or Q4 if approved the company can sell their priority review voucher for around $100 million , ortx has another Phase 3 ready drug in pipeline .STRONG BUY
Orchard Therapeutics plc, a biopharmaceutical company, develops gene therapies for serious and life-threatening rare diseases in the United Kingdom, European Union, and the United States. The company's gene therapy approach seeks to transform a patient's hematopoietic stem cells into a gene-modified cellular drug product to treat the patient's disease through a single administration. It provides Strimvelis, a gammaretroviral-based product for the treatment of adenosine deaminase-severe combined immunodeficiency (ADA-SCID). The company's clinical development products comprise OTL-101 for the treatment of ADA-SCID; OTL-200 to treat metachromatic leukodystrophy; OTL-103 for the treatment of Wiskott-Aldrich syndrome; OTL-102 for X-linked chronic granulomatous disease; and OTL-300 for transfusion-dependent beta-thalassemia. Its preclinical programs include OTL-203 for mucopolysaccharidosis type I, OTL-201 for mucopolysaccharidosis type MPS-IIIA, and OTL-202 for mucopolysaccharidosis type IIIB. It has a strategic collaboration agreement with Pharming Group N.V. for research, development, manufacturing, and commercialization of OTL-105, an investigational ex vivo autologous hematopoietic stem cell gene therapy for the treatment of hereditary angioedema. The company was formerly known as Orchard Rx Limited. Orchard Therapeutics plc was founded in 2015 and is headquartered in London, the United Kingdom.
SESEN BIO (SESN)
0.5051+0.0018 (+0.36%)
At close: 04:00PM EST
0.729 +0.2239 (+44.28%)
After hours: 04:40PM EST
Sesen Bio and Carisma Therapeutics Announce Substantial Increase to Expected Special Cash Dividend in Connection with Pending Merger
Sesen Bio Stockholders Expected to Receive Approximately $70 Million Special Cash Dividend, an Increase from up to $25 Million Previously Announced
Contingent Value Right to Include Proceeds of Vicineum and Other Preclinical Assets, in Addition to Previously Announced Proceeds of Roche Agreement
Companies Provide Update on Engagement with Investor Group
CAMBRIDGE, Mass. & PHILADELPHIA, December 29, 2022--(BUSINESS WIRE)--Sesen Bio, Inc. (Nasdaq: SESN) and Carisma Therapeutics Inc. (Carisma), a privately-held, clinical stage biopharmaceutical company focused on discovering and developing innovative immunotherapies, today announced an amendment to their previously announced merger agreement dated September 20, 2022.
Under the terms of the amended merger agreement, which has been unanimously approved by the Boards of Directors of both companies, the one-time special cash dividend expected to be paid to Sesen Bio stockholders will be increased to approximately $70 million, or approximately $0.34 per share, representing the amount of excess cash available after Sesen Bio meets a required net cash minimum of $75 million and represents an increase from the previously stated up to $25 million special cash dividend, or up to $0.12 per share. Carisma’s previously announced approximately $30 million financing remains committed and is expected to close concurrently with the merger.
As part of the amended merger agreement, the contingent value right ("CVR") payable to Sesen Bio stockholders has been amended to also include proceeds from any sale of Vicineum and Sesen Bio’s other preclinical assets, in addition to any proceeds from the milestone payment under the Roche Asset Purchase Agreement.
The issuance of the special cash dividend and CVR remain contingent on the closing of the pending transaction. Following completion of the incremental financing from Carisma’s key investors and subsequent completion of the merger, Sesen Bio stockholders are expected to own 25.2% of the pro forma company consistent with the exchange ratio formula set forth in the original merger agreement.
Dr. Thomas Cannell, President and Chief Executive Officer of Sesen Bio, said, "Since first announcing the merger, both companies have engaged extensively with Sesen Bio stockholders and continued to explore ways to deliver greater value in connection with the closing. The $45 million increase to the expected special cash dividend delivers even more direct and immediate cash value. Furthermore, Sesen Bio stockholders will be positioned to realize the long-term benefits of the pending merger, including a meaningful ownership position in the combined company, and benefit from additional potential upside through the CVR. With support from its financial and legal advisors, the Board embarked on a thorough evaluation of its strategic alternatives, including liquidation, and conducted outreach to more than 100 companies, 42 of which submitted bids. Based on this comprehensive review process, we are confident that the pending merger maximizes stockholder value and is in the best interest of our stockholders. In the weeks ahead, we look forward to further engaging with our stockholders regarding the significant benefits of our pending merger with Carisma."
Steven Kelly, President and Chief Executive Officer of Carisma, added, "The revised terms of our pending merger with Sesen Bio reinforce our confidence in and commitment to completing this compelling transaction. Carisma’s stockholders continue to be enthusiastic about the potential merger and have reaffirmed their commitment to provide incremental financing to support the combined company. Following completion of our merger with Sesen Bio, the combined company will be positioned for continued success as we advance our mission to revolutionize cancer treatments."
The merger and related financing are expected to close in the first quarter of 2023, subject to approval by Sesen Bio stockholders and other customary closing conditions.
Update on Engagement with Investor Group
On November 18, 2022, Bradley Radoff and Michael Torok and their affiliates (collectively, the "Investor Group") disclosed beneficial ownership of 5.7% of Sesen Bio’s outstanding common stock, indicated to Sesen Bio that it would not support the pending merger with Carisma on the terms set forth in the merger agreement and subsequently demanded the payment of a special cash dividend to Sesen Bio stockholders in the amount of $0.50 per share or approximately $100 million. On December 1, 2022, the Investor Group disclosed ownership of 7.4% of Sesen Bio’s outstanding common stock. Both Sesen Bio, Carisma, and the companies’ respective advisors have engaged with the Investor Group in an attempt to foster a constructive dialogue and reach an amicable resolution regarding the pending merger.
During such discussions, Sesen Bio and Carisma offered to significantly increase the amount of the special cash dividend by $45 million to approximately $70 million. This would increase the immediate value paid to Sesen Bio stockholders while providing the go-forward combined company with the necessary net cash of $75 million to fund its operations, based on an expected Sesen Bio net cash as of immediately prior to close and before issuance of the cash dividend of approximately $145 million.
The Sesen Bio Board of Directors continues to believe the merger provides Sesen Bio stockholders with both immediate value and future upside, which is far superior to the risk, uncertainty and prolonged timeline associated with Sesen Bio re-initiating a process to evaluate (or re-evaluate) potential strategic alternatives, including a liquidation. Based on the comprehensive review process conducted with the Sesen Bio Board of Directors, the payment of a special cash dividend without a concurrent transaction would be unlikely.
However, despite the offer to increase the expected special cash dividend to approximately $70 million from up to $25 million and the immediate value represented by the dividend, CVR and continued ownership in the combined company – and despite the parties and their advisors providing the above information – the Investor Group nonetheless continues to demand an approximate $100 million special cash dividend.
SVB Securities is acting as exclusive financial advisor to Sesen Bio for the transaction and Hogan Lovells US LLP is serving as its legal counsel. Evercore is serving as lead financial advisor to Carisma for the transaction and BofA Securities, Inc. is also serving as financial advisor to Carisma for the transaction. Wilmer Cutler Pickering Hale and Dorr LLP is serving as legal counsel to Carisma. BofA Securities, Inc. and Evercore are serving as co-placement agents for Carisma’s concurrent financing and Shearman & Sterling LLP is serving as the placement agents’ legal counsel.
About Sesen Bio
Sesen Bio, Inc. is a late-stage clinical company focused on targeted fusion protein therapeutics for the treatment of patients with cancer. Sesen Bio’s most advanced product candidate, Vicineum™, also known as VB4-845, is a locally-administered targeted fusion protein composed of an anti-epithelial cell adhesion molecule antibody fragment tethered to a truncated form of Pseudomonas exotoxin A for the treatment of non-muscle invasive bladder cancer. On July 15, 2022, Sesen Bio made the strategic decision to voluntarily pause further development of Vicineum in the US. The decision was based on a thorough reassessment of Vicineum, which included the incremental development timeline and associated costs for an additional Phase 3 clinical trial, following Sesen Bio’s discussions with the United States Food and Drug Administration. Sesen Bio has turned its primary focus to assessing potential strategic alternatives with the goal of maximizing stockholder value. Additionally, Sesen Bio is seeking a partner for the further development of Vicineum. For more information, please visit the Company’s website at www.sesenbio.com.
About Carisma Therapeutics
Carisma Therapeutics Inc. is a biopharmaceutical company dedicated to developing a differentiated and proprietary cell therapy platform focused on engineered macrophages, cells that play a crucial role in both the innate and adaptive immune response. The first applications of the platform, developed in collaboration with the University of Pennsylvania*, are autologous chimeric antigen receptor (CAR)-macrophages for the treatment of solid tumors. Carisma is headquartered in Philadelphia, PA. For more information, please visit www.carismatx.com
*Carisma has licensed certain Penn-owned intellectual property from the University of Pennsylvania, and Penn's Perelman School of Medicine receives sponsored research and clinical trial funding from Carisma. Penn and certain of its faculty members, including Dr. Gill, are current equity holders in Carisma and have received and may be entitled to receive future financial consideration from Carisma from the development and commercialization of products based on licensed Penn intellectual property.
SESEN BIO (SESN)
0.5051+0.0018 (+0.36%)
At close: 04:00PM EST
0.729 +0.2239 (+44.28%)
After hours: 04:40PM EST
Sesen Bio and Carisma Therapeutics Announce Substantial Increase to Expected Special Cash Dividend in Connection with Pending Merger
Sesen Bio Stockholders Expected to Receive Approximately $70 Million Special Cash Dividend, an Increase from up to $25 Million Previously Announced
Contingent Value Right to Include Proceeds of Vicineum and Other Preclinical Assets, in Addition to Previously Announced Proceeds of Roche Agreement
Companies Provide Update on Engagement with Investor Group
CAMBRIDGE, Mass. & PHILADELPHIA, December 29, 2022--(BUSINESS WIRE)--Sesen Bio, Inc. (Nasdaq: SESN) and Carisma Therapeutics Inc. (Carisma), a privately-held, clinical stage biopharmaceutical company focused on discovering and developing innovative immunotherapies, today announced an amendment to their previously announced merger agreement dated September 20, 2022.
Under the terms of the amended merger agreement, which has been unanimously approved by the Boards of Directors of both companies, the one-time special cash dividend expected to be paid to Sesen Bio stockholders will be increased to approximately $70 million, or approximately $0.34 per share, representing the amount of excess cash available after Sesen Bio meets a required net cash minimum of $75 million and represents an increase from the previously stated up to $25 million special cash dividend, or up to $0.12 per share. Carisma’s previously announced approximately $30 million financing remains committed and is expected to close concurrently with the merger.
As part of the amended merger agreement, the contingent value right ("CVR") payable to Sesen Bio stockholders has been amended to also include proceeds from any sale of Vicineum and Sesen Bio’s other preclinical assets, in addition to any proceeds from the milestone payment under the Roche Asset Purchase Agreement.
The issuance of the special cash dividend and CVR remain contingent on the closing of the pending transaction. Following completion of the incremental financing from Carisma’s key investors and subsequent completion of the merger, Sesen Bio stockholders are expected to own 25.2% of the pro forma company consistent with the exchange ratio formula set forth in the original merger agreement.
Dr. Thomas Cannell, President and Chief Executive Officer of Sesen Bio, said, "Since first announcing the merger, both companies have engaged extensively with Sesen Bio stockholders and continued to explore ways to deliver greater value in connection with the closing. The $45 million increase to the expected special cash dividend delivers even more direct and immediate cash value. Furthermore, Sesen Bio stockholders will be positioned to realize the long-term benefits of the pending merger, including a meaningful ownership position in the combined company, and benefit from additional potential upside through the CVR. With support from its financial and legal advisors, the Board embarked on a thorough evaluation of its strategic alternatives, including liquidation, and conducted outreach to more than 100 companies, 42 of which submitted bids. Based on this comprehensive review process, we are confident that the pending merger maximizes stockholder value and is in the best interest of our stockholders. In the weeks ahead, we look forward to further engaging with our stockholders regarding the significant benefits of our pending merger with Carisma."
Steven Kelly, President and Chief Executive Officer of Carisma, added, "The revised terms of our pending merger with Sesen Bio reinforce our confidence in and commitment to completing this compelling transaction. Carisma’s stockholders continue to be enthusiastic about the potential merger and have reaffirmed their commitment to provide incremental financing to support the combined company. Following completion of our merger with Sesen Bio, the combined company will be positioned for continued success as we advance our mission to revolutionize cancer treatments."
The merger and related financing are expected to close in the first quarter of 2023, subject to approval by Sesen Bio stockholders and other customary closing conditions.
Update on Engagement with Investor Group
On November 18, 2022, Bradley Radoff and Michael Torok and their affiliates (collectively, the "Investor Group") disclosed beneficial ownership of 5.7% of Sesen Bio’s outstanding common stock, indicated to Sesen Bio that it would not support the pending merger with Carisma on the terms set forth in the merger agreement and subsequently demanded the payment of a special cash dividend to Sesen Bio stockholders in the amount of $0.50 per share or approximately $100 million. On December 1, 2022, the Investor Group disclosed ownership of 7.4% of Sesen Bio’s outstanding common stock. Both Sesen Bio, Carisma, and the companies’ respective advisors have engaged with the Investor Group in an attempt to foster a constructive dialogue and reach an amicable resolution regarding the pending merger.
During such discussions, Sesen Bio and Carisma offered to significantly increase the amount of the special cash dividend by $45 million to approximately $70 million. This would increase the immediate value paid to Sesen Bio stockholders while providing the go-forward combined company with the necessary net cash of $75 million to fund its operations, based on an expected Sesen Bio net cash as of immediately prior to close and before issuance of the cash dividend of approximately $145 million.
The Sesen Bio Board of Directors continues to believe the merger provides Sesen Bio stockholders with both immediate value and future upside, which is far superior to the risk, uncertainty and prolonged timeline associated with Sesen Bio re-initiating a process to evaluate (or re-evaluate) potential strategic alternatives, including a liquidation. Based on the comprehensive review process conducted with the Sesen Bio Board of Directors, the payment of a special cash dividend without a concurrent transaction would be unlikely.
However, despite the offer to increase the expected special cash dividend to approximately $70 million from up to $25 million and the immediate value represented by the dividend, CVR and continued ownership in the combined company – and despite the parties and their advisors providing the above information – the Investor Group nonetheless continues to demand an approximate $100 million special cash dividend.
SVB Securities is acting as exclusive financial advisor to Sesen Bio for the transaction and Hogan Lovells US LLP is serving as its legal counsel. Evercore is serving as lead financial advisor to Carisma for the transaction and BofA Securities, Inc. is also serving as financial advisor to Carisma for the transaction. Wilmer Cutler Pickering Hale and Dorr LLP is serving as legal counsel to Carisma. BofA Securities, Inc. and Evercore are serving as co-placement agents for Carisma’s concurrent financing and Shearman & Sterling LLP is serving as the placement agents’ legal counsel.
About Sesen Bio
Sesen Bio, Inc. is a late-stage clinical company focused on targeted fusion protein therapeutics for the treatment of patients with cancer. Sesen Bio’s most advanced product candidate, Vicineum™, also known as VB4-845, is a locally-administered targeted fusion protein composed of an anti-epithelial cell adhesion molecule antibody fragment tethered to a truncated form of Pseudomonas exotoxin A for the treatment of non-muscle invasive bladder cancer. On July 15, 2022, Sesen Bio made the strategic decision to voluntarily pause further development of Vicineum in the US. The decision was based on a thorough reassessment of Vicineum, which included the incremental development timeline and associated costs for an additional Phase 3 clinical trial, following Sesen Bio’s discussions with the United States Food and Drug Administration. Sesen Bio has turned its primary focus to assessing potential strategic alternatives with the goal of maximizing stockholder value. Additionally, Sesen Bio is seeking a partner for the further development of Vicineum. For more information, please visit the Company’s website at www.sesenbio.com.
About Carisma Therapeutics
Carisma Therapeutics Inc. is a biopharmaceutical company dedicated to developing a differentiated and proprietary cell therapy platform focused on engineered macrophages, cells that play a crucial role in both the innate and adaptive immune response. The first applications of the platform, developed in collaboration with the University of Pennsylvania*, are autologous chimeric antigen receptor (CAR)-macrophages for the treatment of solid tumors. Carisma is headquartered in Philadelphia, PA. For more information, please visit www.carismatx.com
*Carisma has licensed certain Penn-owned intellectual property from the University of Pennsylvania, and Penn's Perelman School of Medicine receives sponsored research and clinical trial funding from Carisma. Penn and certain of its faculty members, including Dr. Gill, are current equity holders in Carisma and have received and may be entitled to receive future financial consideration from Carisma from the development and commercialization of products based on licensed Penn intellectual property.
Vascular Biogenics Ltd. (VBLT): 0.119
Shares Outstanding 69.75M
52w: 0.1080 - 2.2898
https://ir.vblrx.com/static-files/0b08ff67-0438-4e8a-a832-7f6877f75613
Continued progress on previously announced strategic process to maximize shareholder value
BL Therapeutics (Nasdaq: VBLT), a clinical stage biotechnology company developing targeted medicines for immune-inflammatory diseases, announced financial results for the third quarter ended September 30, 2022, and provided a corporate update.
“VBL’s management team and board continue to make good progress on the evaluation of strategic options for the company’s assets, including the GMP manufacturing facility and VB-601 program, with the goal of maximizing shareholder value,” said Dror Harats, M.D., Chief Executive Officer of VBL. “We recently submitted our regulatory filings for a first-in-human clinical trial for the VB-601 program, and expect to initiate this trial in the first quarter of 2023, subject to the outcome of our strategic process.”
Third Quarter Highlights
Filed a regulatory submission to the Israel Ministry of Health and institutional review board to conduct a Phase 1 first-in-human trial for its lead immunology product candidate,VB-601, a targeted antibody for immune-inflammatory applications.
Retained Chardan Capital to act as financial advisor to explore and evaluate strategic options for maximizing shareholder value.
Took steps to preserve capital, including the workforce reduction and ceasing internal development of ofra-vec.
Financial Results for the Third Quarter of 2022
At September 30, 2022, VBL had cash, cash equivalents, short-term bank deposits and restricted bank deposits of $27.7 million. VBL expects that its cash, cash equivalents, short-term bank deposits, and restricted bank deposits will be sufficient to fund currently planned operating expenses and capital expenditures for at least twelve months. VBL’s ongoing review of its strategic options and any transactions resulting from such review may impact this projection.
About VBL Therapeutics
VBL Therapeutics (Nasdaq: VBLT) is developing targeted therapies for immune-inflammatory diseases. VBL’s lead immunology product candidate VB-601 is a targeted antibody for immune-inflammatory applications that has shown disease-modifying activity across multiple preclinical models including multiple sclerosis, rheumatoid arthritis and inflammatory bowel disease. At present, VBL is evaluating options for development of its assets, which may include partnering and other strategic options. To learn more about VBL, please visit vblrx.com or follow VBL on LinkedIn, Twitter, YouTube or Facebook.
Vascular Biogenics Ltd. (VBLT): 0.119
Shares Outstanding 69.75M
52w: 0.1080 - 2.2898
https://ir.vblrx.com/static-files/0b08ff67-0438-4e8a-a832-7f6877f75613
Continued progress on previously announced strategic process to maximize shareholder value
BL Therapeutics (Nasdaq: VBLT), a clinical stage biotechnology company developing targeted medicines for immune-inflammatory diseases, announced financial results for the third quarter ended September 30, 2022, and provided a corporate update.
“VBL’s management team and board continue to make good progress on the evaluation of strategic options for the company’s assets, including the GMP manufacturing facility and VB-601 program, with the goal of maximizing shareholder value,” said Dror Harats, M.D., Chief Executive Officer of VBL. “We recently submitted our regulatory filings for a first-in-human clinical trial for the VB-601 program, and expect to initiate this trial in the first quarter of 2023, subject to the outcome of our strategic process.”
Third Quarter Highlights
Filed a regulatory submission to the Israel Ministry of Health and institutional review board to conduct a Phase 1 first-in-human trial for its lead immunology product candidate,VB-601, a targeted antibody for immune-inflammatory applications.
Retained Chardan Capital to act as financial advisor to explore and evaluate strategic options for maximizing shareholder value.
Took steps to preserve capital, including the workforce reduction and ceasing internal development of ofra-vec.
Financial Results for the Third Quarter of 2022
At September 30, 2022, VBL had cash, cash equivalents, short-term bank deposits and restricted bank deposits of $27.7 million. VBL expects that its cash, cash equivalents, short-term bank deposits, and restricted bank deposits will be sufficient to fund currently planned operating expenses and capital expenditures for at least twelve months. VBL’s ongoing review of its strategic options and any transactions resulting from such review may impact this projection.
About VBL Therapeutics
VBL Therapeutics (Nasdaq: VBLT) is developing targeted therapies for immune-inflammatory diseases. VBL’s lead immunology product candidate VB-601 is a targeted antibody for immune-inflammatory applications that has shown disease-modifying activity across multiple preclinical models including multiple sclerosis, rheumatoid arthritis and inflammatory bowel disease. At present, VBL is evaluating options for development of its assets, which may include partnering and other strategic options. To learn more about VBL, please visit vblrx.com or follow VBL on LinkedIn, Twitter, YouTube or Facebook.
erytech ERYP : 0.385
As of September 30, 2022, ERYTECH had cash and cash equivalents totaling €47.3 million
€47.3 x 1.07 = $ 50.6 milion
Admitted shares 31,018,553
= $ 1.63/share
https://erytech.com/wp-content/uploads/2211122-ERYTECH-Corporate-Presentation-November.pdf