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Foamix Pharmaceuticals to Present at the Cantor Global Healthcare Conference
Foamix Pharmaceuticals Ltd. (NASDAQ: FOMX) ("Foamix" or the "Company"), a clinical stage specialty pharmaceutical company focused on developing and commercializing proprietary topical therapies to address unmet needs in dermatology, announced today that David Domzalski, Chief Executive Officer, will present a corporate overview and business update at the Cantor Global Healthcare Conference on Thursday, October 3, 2019 at the InterContinental New York Barclay Hotel in New York City.
Cantor Global Healthcare Conference
Date: Thursday, October 3 Time: 3:35pm Eastern Time Location : InterContinental New York Barclay Hotel Webcast: http://wsw.com/webcast/cantor10/fomx/
Foamix Announces Enrollment of First Patient in Phase 2 Acne Clinical Trial for FCD105 Minocycline 3% and Adapalene 0.3% Combination Foam
Foamix Pharmaceuticals Ltd. (NASDAQ:FOMX), today announced that the first patient has been enrolled in its Phase 2 clinical trial to evaluate the efficacy and safety of its topical combination foam, comprised of minocycline 3% and adapalene 0.3%, FCD105 for the treatment of moderate-to-severe acne vulgaris.
"FCD105 combines minocycline and adapalene, which are two leading agents for treating inflammatory and non-inflammatory comedonal acne lesions, respectively, in a convenient, foam-based product. We currently expect topline data from this study in mid-2020," said David Domzalski, CEO of Foamix. "The initiation of this Phase 2 clinical trial for FCD105 is an important milestone for Foamix, as this would be our first follow-on product behind our lead product candidates, FMX 101 for moderate to severe acne vulgaris, and FMX103, for the treatment of moderate-to-severe papulopustular rosacea."
Study Design
The Phase 2 clinical trial is expected to enroll approximately 400 patients, aged 12 years and older, with moderate-to-severe acne vulgaris. This prospective, randomized, double-blind, vehicle-controlled trial will be conducted at multiple sites throughout the United States. Patients will be randomized to one of four treatment arms: FCD105 foam, 0.3% adapalene foam, 3% minocycline foam or vehicle foam and will self-apply their assigned treatment once daily for 12 weeks. The stud y design follows current regulatory standards in evaluating the safety and efficacy of combination products of this type.
The primary endpoints are: 1) the proportion of patients achieving success at week 12 based on an Investigator's Global Assessment (success is defined as a score of "clear" or "minimal" and at least a 2 category improvement from baseline), 2) the mean change from baseline in inflammatory lesion counts in each treatment group at week 12, and 3) the mean change from baseline in non-inflammatory lesion counts in each treatment group at week 12. Safety evaluation will include reported adverse events, skin tolerability assessments, physical examinations and vital signs.
About FCD105
FCD105 is Foamix's proprietary 3% minocycline, 0.3% adapalene combination foam formulation intended for the treatment of moderate-to-severe acne vulgaris. FCD105 combines the bacteriostatic and anti-inflammatory properties of minocycline with the third-generation retinoid, adapalene, which acts in regulating the differentiation of follicular epithelial cells. Oral minocycline and topical adapalene products are approved for use in the treatment of acne vulgaris in the USA, with the latter available in combination and as monotherapy. Foamix's FMX101 (minocycline 4% foam) New Drug Application (NDA) is undergoing review by FDA under the 505(b)(2) regulatory pathway with a PFUFA action date of 20 October 2019 . Pending a successful development program, the FCD105 NDA is intended to be filed under the same regulatory pathway.
Upper Street Marketing’s First Hemp Harvest On Track
Sept. 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Upper Street Marketing Inc. (OTC Markets: symbol UPPR) and its agricultural partners have been monitoring their first hemp crop throughout the summer and are now within weeks of processing the biomass into high-grade cannabidiol (CBD) isolates and distillates.
Recent photographs of plants growing on the 330 acres UPPR has cultivated in Center, Colorado are available at the company’s website (www.upperstreetmarketing.com) and attest to the progress of the crop toward harvest and extraction in late September or early October. An additional 900-acre cultivation owned and operated by partners has reached a similarly advanced stage.
“Hemp plants generally require 12-16 weeks before the flowering plants develop CBD-rich concentrations,” said UPPR Chief Executive Officer, Joseph Earle. “Our seeds were in the ground in early June.”
While the Colorado Field Office of the National Agricultural Statistics Service has yet to track hemp as a separate crop, agronomists have compared the ideal soil for the plant to the well-aerated loam that best supports corn. On that basis, the NASS currently rates conditions across 80% of the state “good to excellent,” well above the five-year average evaluation of 69%.
Once the crop is harvested, UPPR will begin extracting CBD from the biomass in 4Q 2019 or early Q1, 2020 in the Company’s 100,000 square-foot facility near its Colorado acreage. Additionally, UPPR leases a 12,000 square-foot laboratory in San Diego, California, that will also further process high-grade CBD isolates and distillates for sales.
Previously disclosed yield projections suggest that the overall production profile should translate to approximately 75,000 kilograms of high-quality CBD. The company has retained FDA-registered contract pharmaceutical manufacturer, PrimaPharma Inc., (http://www.primapharma.net) to ensure that all products meet regulatory and commercial FDA cGMP standards.
Most recently, UPPR has partnered with ICC Group Northwest Inc. (http://icc-inc.net) to build out the manufacturing and extraction needed for UPPR CBD production needs.
As the demand for the newly legalized, non-psychoactive CBD products expands, UPPR is building to the estimated $25 billion annual market by 2024. Fortune magazine and other publications have contemplated a 100X surge in CBD consumption between now and 2023. UPPR estimates current markets expand from 75,000 kg of isolate/distillate to as much as 3.5 million kg.
UPPR research indicates that approximately 55,000 acres of hemp were harvested in 2018 across North America, enough to satisfy only 12% of retail demand. On that basis, cultivation will need to expand to over 250,000 acres simply to meet projected 2020 consumption.
Recent wholesale pricing on CBD isolates is running above $3,000 per pound ($7,000 per kilogram) and many organic hemp farmers target yields of 15% CBD or higher. UPPR and its partners are now weeks from harvesting our crops. “We’ve heard plenty of anecdotal complaints about pricing of CBD products when retailers can stock them at all,” notes CEO Joseph Earle. “Moving our first crop from the field to the processing plant will help ease that imbalance and satisfy the market, while validating our seed-to-store FDA cGMP business plan.”
For Further Information Contact:
Upper Street Marketing Inc.
Phone: (844) 535-UPPR (8777)
Email investorrelations@upperstreetmarketing.com
the Petitioners request that the Commission vacate, rescind and void
its June 27, 2019, Order and direct that no one is required to follow the process outlined in 17
C.F.R Section 240. l 5c2-11 for the shares of UPPR to commence trading again immediately on
OTC Link.
The fight is on!
https://www.sec.gov/litigation/apdocuments/ap-3-19250.xml
Good to know.
So wonder whatever happened to the Bausch rumors just before P2 results? I assumed at the time it was just a rumor going around to bump up the stock price. Looks like I might have been right. There's always a rumor before results. Roth in San Francisco, letters of intent from Anja, always something to keep longs hanging in there.
Now we have more than a rumor, we have Locust Walk. Hopefully this time something actually comes out it!
I was actually surprised myself that more of the ATM wasn't used. Looks like Tierney understands the dilution concerns, but we still need to meet NYSE 6M equity requirement somehow.
Coming up, dilute by way of an offering, share our wealth by way of partnership (dilution), or sell the whole damn thing off and call it done!
I hope that's the case! Hoping even more that this "Strategic Transaction" comes sooner than later!
Equity price extension shouldn't be an issue. Stock is still heavily traded so good volume = extension approval.
Real question is, can we make it past Dec. without another RS as we bite our fingernails in anticipation of the "Strategic Transaction"?
A few Q2 key breakdown points
14,187,583 Outstanding Shares
10,683,167 Prior
3,504,416 Difference
Received notice from the U.S. Patent and Trademark Office granting additional patent protection for its lead candidates, BPX-01 for the treatment of inflammatory lesions of acne vulgaris and BPX-04 for the treatment of papulopustular rosacea (U.S. Patent No. 10,391,108, entitled "Pharmaceutical Tetracycline Composition For Dermatological Use").
On September 24, 2018, we received a deficiency notice by the NYSE American that we were not in compliance with the stockholders’ equity requirements set forth in the NYSE American Company Guide. The deficiency notice was based on our reported stockholders’ equity of $4.3 million as of July 31, 2018 and net losses in our five most recent fiscal years ended January 31, 2018. NYSE Regulation reviewed our plan to regain compliance with this standard and approved a plan period through September 24, 2019. We have requestied that the NYSE American grant us a six-month extension to this plan period.
As of July 31, 2019, we had cash and cash equivalents of $3.3 million and a working capital of $1.8 million.
We incurred a net loss of $2.6 million and $4.4 million for the three months ended July 31, 2019 and 2018, respectively and a net loss of $6.3 million and $8.8 million for the six months ended July 31, 2019 and 2018, respectively. We had an accumulated deficit of $84.8 million as of July 31, 2019.
In addition, common stock with an aggregate offering price of up to $8.5 million may be issued and sold pursuant to an at-the-market sales agreement entered into with JonesTrading Institutional Services LLC in May 2019. As of July 31, 2019, we received net proceeds of $3.3 million under this at-the-market sales agreement. No additional amounts were raised under the sales agreement after July 31, 2019 through the date of this report.
We filed a shelf registration statement with the SEC to allow us to sell $100 million of our securities from time to time prior to February 2022, of which $87.6 million remains available on this effective registration statement as of August 31, 2019, subject to regulatory limitations.
We are currently preparing to request an end-of-phase 2 meeting with the FDA and are actively engaged in strategic partnership discussions to advance the continued development of both late-stage product candidates, BPX01 and BPX04. In addition, in August 2019 we retained Locust Walk Partners, LLC, a global life science transaction advisory firm focused on biopharmaceutical and medical technology companies, to provide transaction advisory services to us and to support our strategic partnership discussions.
Our goal is to reduce the time, cost and risks typically associated with new product development by utilizing APIs with demonstrated safety profiles and, when applicable, taking advantage of the regulatory approval pathway under Section 505(b)(2) of the Federal Food, Drug, and Cosmetic Act, or FDC Act. Section 505(b)(2) permits an applicant for a new product, such as a new or improved formulation or a new use of an approved product, to rely in part, on literature and/or on the FDA’s findings of safety and/or effectiveness for a similar previously-approved product. Our approach is to identify the limitations of current treatment options and work to develop novel products using our proprietary HyantXTM topical drug delivery system.
BPX01 and BPX04 are a topical formulations of minocycline (Solodyn), a previously approved oral antibiotic. Reliance on safety findings made by the FDA in approving Solodyn, the antibiotic we will reference in our NDA, could expedite the development program for our product candidates by decreasing the amount of preclinical or clinical data that we would need to generate in order to obtain FDA approval.
“This was an important quarter for BioPharmX to position our late-stage product candidates for continued success. We were extremely pleased to deliver positive Phase 2b trial results for BPX-04 as well as to secure additional patent protection for the underlying technology,” said Dr. Tierney, BioPharmX CEO. “Following a strategic review of the business, we have determined that the best path forward to realize the intrinsic value in these assets will be a strategic partnership transaction. As such, I am pleased to be working with the Locust Walk team, given my longstanding relationship with the firm, to initiate a more formal process with the aim to announce a strategic transaction in Q4 2019.”
I hope you're sitting down come Tuesday...
Looking for good news tomorrow with their follow up PR!
I would like to think we're on an uptrend since May (higher lows, with the exception of July's dip) and that the price doesn't drop below .28 and possibly getting a spike to the .50 range within a months time.
We'll see how it plays out tomorrow!
Quarterly Report
https://www.otcmarkets.com/stock/IVST/disclosure
UPPER STREET MARKETING being added to the LD Micro Index as of August 1st, 2019
LOS ANGELES, CA / ACCESSWIRE / August 1, 2019 / LD Micro is pleased to announce that the LD Micro Index is being reconstituted (again) as of August 1, 2019.
LD Micro has always held the belief that our industry needs a truly accurate indicator of what is occurring in the micro-cap world.
With this reconstitution the index will contain 984 companies, a surprisingly similar number to what we had back in February. Nearly as many companies have “graduated” out of the index as those that have “graduated” in.
Performance since the close of January 31st, 2019:
Nasdaq: +12% (Very nice)
S&P500: +10.2% (Solid)
Dow Jones: +7.5% (Respectable)
Russell 2000: +5% (Better than CDs)
LD Micro Index: -2.8% (The night is still young)
A breakdown by exchange, sector, and complete constituent list is available at our website: http://www.ldmicro.com/the-index.
Chris Lahiji, President of LD Micro, stated "As we turn four, more people in our industry are using the Index as an additional indicator for what is taking place on a daily, weekly, and monthly basis. Our goal has always been to add much needed insight to the space, and based on the dichotomy between micro, small, and large-cap, we feel our index provides the most accurate picture of micro-cap as a whole. As evidenced, micro-cap performance thus far in 2019 has been incredibly disconcerting.”
Companies being added to the index as of August 1st, 2019 are: https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/ld-micro-index-turns-four-130500125.html
Farm owner, and master grower, was burned by previous business partner, so the farm made a deal with Upper. Upper doesn't own the farm, their just working with the farm that already has a grow in operation.
Foamix Pharmaceuticals to Report Second Quarter 2019 Financial Results on August 8
Foamix Pharmaceuticals Ltd. (NASDAQ: FOMX), ("Foamix"), a clinical-stage pharmaceutical company that specializes in developing and commercializing proprietary topical therapies for dermatological conditions, today announced that it will report its financial results for the second quarter and six months ended June 30, 2019, on Wednesday, August 7, after the markets close. Foamix will host a conference call and webcast at 8:30 a.m. Eastern Time on Thursday, August 8.
Conference Call & Webcast Thursday, August 8th @ 8:30amET Toll Free: 855-327-6838 International: 604-235-2082 Conference ID: 10007347 Webcast: http://public.viavid.com/index.php?id=135538 A replay of the call will be archived on the Company's website at www.foamix.com promptly after the co nference call.
Looking for that reversal confirmation. Still hasn't fully broken through the resistance line on the 3 Mon.
Great news again! More steps in the right direction!
Innovest Board Approves Plan to Maximize Shareholder Value from Biotech and Industrial Initiatives
July 22, 2019, 1:30 PM UTC
CLEVELAND--(BUSINESS WIRE)--
Spin-Off of Biotechnology Effort will Result in Another Public Company, Which Will Feature Shares Owned by Innovest, and Paid Out as Dividends to IVST Stockholders
Innovest Global Inc. (OTC Markets: IVST), a diversified industrials and biotechnology company, plans to spin off its novel biotechnology effort and focus on growth of current operations, and acquisitions of non-scientific companies. This move gives both initiatives what they need to take advantage of intrinsic value for current shareholders.
“In a very short period of time, we’ve created an exploding industrial effort that grew revenue at 1,500% growth over Q1 2018 to $11.7 million net sales in Q1 2019, and also find ourselves with a world class biotechnology initiative and team that we believe is second to none,” said Innovest founder, Chairman, and CEO Dan Martin. “The needs and opportunities of these efforts are now very different, and we believe separating them will result in the best business results for each, and most value for shareholders.”
The action would include Innovest owning stock in a separate public company. Stock in the spinout company, would initially be held by Innovest but then paid out as dividends proportionately to all Innovest stockholders on a quarterly schedule. This Biotech company would feature Dan Martin as the Chairman of its Board (in addition to his Innovest roles), and take on a new, ‘biotech heavy’ identity, operation, and team led by current biotech division president Dr. Dwain Irvin, as that company’s new CEO. The action is expected no later than fourth quarter this year, and further details will be provided when appropriate.
In addition to achieving value from the stock of its Biotech effort, this action is expected to provide a focused and dedicated environment for Innovest to take advantage of rapidly growing traditional sales, that are non-scientific.
These strategic decisions follow the Innovest Board of Directors meeting on May 22, 2019, after which the Company said it would “pursue immediate strategic initiatives to maximize the value being achieved by shareholders of both its Biotech initiatives, and its Industrial initiatives.” The company also had a special meeting of the Board of Directors last week on July 15th which addressed this action as well as discussions pertaining to governance, audits, uplist, and preliminary second quarter results. Look for more information, including second quarter results, very soon.
Please follow us across social media, a frequent medium for important updates and news @innovestglobal. Look for much more information to come soon.
"another record sales quarter, financials posting soon" Innovest Global
@innovestglobal Jul 19 Twitter
From Twitter - Innovest Global @innovestglobal
Jul 19
Not yet - management is reviewing drafts rcd today, filing will now be next week. An upward revision to Q1 resulting from manufacturing allocation in 2018 required a little extra time to finish Q2. Thank you for your support!!! Reach IR at Info@innovestglobal.com or 440.644.1028
A bit of extra volume today in the right direction.
BioPharmX Announces Steven M. Bosacki Joins the Company as Chief Operating Officer
SAN JOSE, Calif., July 16, 2019 /PRNewswire/ -- BioPharmX Corporation (NYSE American: BPMX), a specialty pharmaceutical company focused on developing innovative medical dermatology products, today announces the appointment of Steven M. Bosacki, a 20 year pharmaceutical industry veteran, as its Chief Operating Officer. Mr. Bosacki previously served as Senior Vice President and General Counsel under BioPharmX CEO, Dr. David S. Tierney, at Oceana Therapeutics. Previously, Mr. Bosacki served as President and CEO of Lautus Pharmaceuticals, a privately held pharmaceutical company focused on the dermatology and aesthetics markets. In his newly appointed role at BioPharmX, Mr. Bosacki will oversee all operational aspects of the business including clinical, regulatory, pharmaceutical development and legal activities.
"I am delighted to once again have the opportunity to work with Steve. He is a proven executive with a track record of successfully navigating specialty pharmaceutical companies through the development and commercialization of their product portfolios," said Dr. Tierney, BioPharmX CEO. "He has deep knowledge in the dermatology space and understands the complexities of the regulatory process which will prove invaluable as we continue to advance our topical dermatology programs toward FDA approval."
Mr. Bosacki commented, "I'm excited about the potential of BioPharmX's proprietary HyantX delivery system and its underlying product candidates and I am thrilled to be working again with David."
In addition to Mr. Bosacki's appointment, BioPharmX today announces that Dr. Kin F. Chan, Executive Vice President of Research and Technology, has resigned from his position, effective July 26, 2019, to pursue other opportunities. Dr. Chan will continue to serve as an advisor to BioPharmX. Dr. Tierney commented, "On behalf of the board of directors, I want to thank Dr. Chan for his dedication, leadership and many contributions to BioPharmX and its topical minocycline programs over the years. We wish him the best in his future endeavors."
Don't get me excited now!
"second quarter revenue and results to be filed next week! Management buzzing about continued high revenue, growth, and the upcoming shareholder updates" via Twitter
Upper Street Marketing Acts in Response to SEC and OTC Trading Suspension
SAN DIEGO, CA, July 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- As previously disclosed on June 27, 2019, the Securities and Exchange Commission ("Commission") announced in Release Number 34-86228 the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of trading in the securities (the “Trading Suspension”) of Upper Street Marketing Inc. (OTC Markets: symbol UPPR) of San Diego, California at 9:30 a.m. EDT on June 28, 2019, and terminating at 11:59 p.m. on July 12, 2019. UPPR is currently communicating and in discussions with the Commission asking the Commission to remove the Trading Suspension and to permit a resumption of trading on the OTC Pink market.
OTC Markets Group Inc. ("OTC Markets") announced last week online at OTCmarkets.com that it has discontinued the display of quotes on UPPR common shares because UPPR has been labeled “Caveat Emptor” (buyer beware). OTC Markets Group designates certain securities as “Caveat Emptor” and places a skull and crossbones icon next to the stock symbol to inform investors that there may be reason to exercise additional caution and perform thorough due diligence before making an investment decision in that security.
The Caveat Emptor Designation may be assigned when OTC Markets becomes aware of one or more of the following:
*Promotion— The security is the subject of stock promotion that may be misleading or manipulative. Promotional activities may include news releases, spam email, and newsletters, whether they are published by the issuer or a third party. SeeOTC Markets Group's Policy on Stock Promotion at OTCmarkets.com.
*Investigation of Fraud or Other Criminal Activities— There is an investigation or other indication of fraudulent or other criminal activity involving the company, its securities or insiders.
*Suspension/Halt— A regulatory authority or an exchange has halted or suspended trading for public interest concerns (i.e. not a news or earnings halt).
*Undisclosed Corporate Actions— The security or company is the subject of a corporate action, such as a reverse merger, stock split, or name change, without adequate current information being publicly available.
*Other Public Interest Concern— OTC Markets Group may determine that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion campaigns (including third-party), unusual or unexplained trading activity, spam or disruptive corporate actions even when adequate current information is available.
OTC Markets will resume the display of UPPR’s stock quotes once adequate current information is made available by UPPR pursuant to the Alternative Reporting Standard or by the SEC Reporting Standard, and until OTC Markets believes there is no longer a public interest concern. Investors are encouraged to use caution and due diligence in their investment decisions. Please read the OTC Market’s Investor Protectionpage and OTC Markets Policy Regarding Caveat Emptor at OTCmarkets.comfor more information.
The Commission temporarily suspended trading in the securities of UPPR last because of questions about the accuracy and adequacy of information publicly disseminated concerning UPPR, including, among other things: (1) public statements by UPPR dated May 8, 2019 and May 23, 2019 concerning $10.55 million worth of purported financing for UPPR; (2) public statements by UPPR dated April 30, 2019 and May 23, 2019 denying its retention of an investor relations firm despite apparent possible promotional activity on behalf of UPPR; and (3) inadequate statements, since at least November 2018, concerning a possible private offering of at least $3 million dollars in UPPR's common stock. This order was entered pursuant to Section 12(k) of the Exchange Act.
The Commission has cautioned broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by UPPR.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered for UPPR unless and until such B-Ds have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he or she has complied with the rule, he or she should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 551-5777. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he or she should refrain from entering quotations relating to UPPR's securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation for UPPR which is in violation of the rule, the Commission will consider the need for prompt enforcement action.
For Further Information Contact:
Upper Street Marketing Inc.:
Phone: (844) 535-UPPR (8777)
Email: investorrelations@upperstreetmarketing.com
Upper Street Marketing Announces Acquisition of FDA Licensed Pharmaceutical Manufacturer as Regulators Enforce Hemp and CBD Manufacturing Standards
SAN DIEGO, CA, July 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Upper Street Marketing Inc. (OTC Markets: symbol UPPR) and PrimaPharma Inc. (“PPI’) (www.Primapharma.net) of San Diego, California, an FDA-licensed pharmaceutical manufacturer, have signed a Letter of Intent (“LOI”) providing for UPPR to acquire an 80% interest in PPI.
The letter of intent memorializes the commercial relationship the companies have “cultivated” since January 22, 2019 in which PrimaPharma Inc., agreed to provide UPPR with services and support for the development of hemp derived CBD products for sale and distribution utilizing FDA current Good Manufacturing Practices (cGMP).
“Over the last four months our relationship with PrimaPharma Inc., proved to be such a natural fit that the principals on both sides realized we can do even more together,” Upper Street CEO Joseph Earle explained. “With this agreement, UPPR has many additional tools and resources to expand our footprint in the rapidly expanding CBD industry and beyond. FDA cGMP standards will require vertically integrated seed-to-consumer regulatory requirements that are currently missing in much of the current CBD industry.”
Earle further explains, “I have worked with members of the PrimaPharma team for a decade. We are absolutely a great fit. “The PrimaPharma team are experts at GMP. The further regulatory reach described by the FDA in recent Washington DC hearings, make cGMP compliance mandatory for domestic CBD providers. Consumers need confidence in the supply of CBD’s.”
Under the terms of the LOI signed today, UPPR will provide the necessary capital to expand PrimaPharma’s manufacturing and laboratory capabilities. The expanded capabilities will greatly extend the ability of PPI to deliver sterile products and for UPPR to deliver mass CBD production to its target markets and seal the vertical integration loop.
PrimaPharma will add approximately $5 million in assets and is cash-flow-neutral at a $6+ million run rate. Following an audit, the acquisition as currently structured will be accretive in the first year after closing, which UPPR management anticipates in four to six weeks.
Strategically, the union of UPPR with PrimaPharma also guarantees that production capacity will expand at a moment when retail demand for CBD isolates and distillates far outstrips supply.
Fortune magazine and other publications have contemplated a 100X surge in CBD consumption between now and 2023, at which point UPPR and other producers will need to ramp up output from a currently minimal 50,000 Kg of isolate to as much as 3.5 million Kg.
An estimated 7% of Americans are currently consuming CBD products, with that population conservatively expanding 30% (to 50 million adults) by 2025. Given the fragmentation and inefficiency in the newly legalized industry, strategic leadership is essential.
UPPR’s newly leased 13,000 square foot laboratory and manufacturing facility is adjacent to PrimaPharma’s existing San Diego operations, allowing for a nearly seamless development of processes and quality systems necessary for the production of hemp derived cGMP products.
BioPharmX shows prevailing Real Value of $2.611012 per share. The current price of the firm is $0.6219. BioPharmX is undervalued.
https://www.macroaxis.com/invest/market/BPMX--valuation--BioPharmX-Corporation
Hey Pete, patiently waiting.
Some guys opinion? An investor claims to have contacted Tierney, specifically asking if there was any ATM involvement with the price decline. Tierney's answer, No.
Tierney just needs to finish what Anja was never going to do! Close the deal Mr M&A!
Upper Street Marketing Approaches Full-Scale Pharmaceutical-Grade CBD Extraction With Multi-Million Dollar Equipment Order
SAN DIEGO, CA, June 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Upper Street Marketing Inc. (OTC Markets: symbol UPPR) has finalized a binding multi-million dollar agreement to purchase state-of-the-art extraction systems from ICC Group (https://www.icc-inc.net) designed to process up to 2 million pounds of raw hemp biomass a year into 120,000 liters of crude cannabidiol (CBD) free from psychoactive contaminants.
"ICC Group is one of the preeminent pharmaceutical manufacturing equipment companies in the world," said UPPR CEO Joseph Earle. "Executing this agreement puts us on track to start converting raw hemp into CBD distillates and concentrates within the next 120 days."
ICC Group personnel have designed and installed manufacturing plants, automated production systems and other projects budgeted at over $1 billion over the past quarter century. Clients in the pharmaceutical space include some of the largest and most prestigious companies in the world and many more large multinational companies that demand adherence to FDA current Good Manufacturing Practice (cGMP) standards.
Achieving that level of quality control without sacrificing productivity on a highly compressed timeline is central to the ICC Group mission and essential to UPPR's business plan. Processing the raw hemp plant into legal CBD products requires sensitive and transparent systems to ensure that psychoactive components remain within federal limitations for sale in all jurisdictions.
The systems UPPR has purchased will support a fully cGMP environment at all stages of the CBD production cycle from initial biomass delivery to output in easily transported 5-gallon containers. These containers of full-spectrum hemp oil will then be shipped from Colorado to UPPR's San Diego laboratory for processing into higher-grade distillates and isolates.
As the FDA holds its first hearings on CBD marketing and development practices, manufacturers that can meet cGMP standards now will be in a stronger position to comply if, for example, regulators decide to segregate high-grade CBD products from those currently on the market.
"With an anticipated 2 million tons of hemp biomass already moving toward harvest and UPPR processing facilities, securing true pharmaceutical-grade systems ensures that we provide superior products and dramatically enhances our leadership on compliance and quality," CEO Joseph Earle said.
"We have the raw hemp supply relationships, the production facilities and contract manufacturing partnerships in place. Now that the equipment itself is coming, the road to an extraction start and significant revenue event as early as September is now clear."
Fortune magazine and other publications have contemplated a 100X surge in CBD consumption between now and 2023, at which point UPPR and other producers will need to ramp up output from a currently minimal annual 50,000 kg of isolate to as much as 3.5 million kg annually.
Recent industry pricing on CBD isolates are running above $3,000 per pound ($7,000 per kilogram) and many organic hemp farmers target yields of 15% CBD or higher.
UPPR has also retained FDA-certified contract pharmaceutical manufacturer PrimaPharma (http://www.primapharma.net) to ensure that all products meet regulatory and commercial standards.
"We remain on track to reach our stated goal of installing enough capacity to produce over 100,000 kg of CBD isolate a year within the next 36 months," CEO Earle explained.
This is a CLARIFICATION and EXPANSION of the press release dated June 18, 2019
UPDATE - Upper Street Marketing and Partners Complete First 1,200-Acre Hemp Cultivation, $200 Million Harvest Projected
SAN DIEGO, CA, June 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – This is a CLARIFICATION and EXPANSION of the press release dated June 18, 2019. Upper Street Marketing Inc. (OTC Markets: symbol UPPR) and its agricultural partners have fully planted their first hemp crop on 1,200 acres of Colorado farmland and are now less than 16 weeks from being able to start processing the biomass into high-grade cannabidiol (CBD) isolates and distillates.
Pictures of the 330 acres UPPR has cultivated in Center, Colorado are available at our website: www.upperstreetmarketing.com. The company has also sourced the crop from roughly 900 additional acres owned and operated by Fox Organic Forms, which will be ready for extraction in late September or early October.
“As we ramp up to solve the global CBD deficit, the weather and an expert cultivation team were on our side,” said UPPR Chief Executive Officer, Joseph Earle. “Now all we need to do is let Nature translate that effort into a CBD-rich harvest ready for our extraction facilities.”
Hemp plants generally require 16 weeks before the flowers are ripe enough to develop oil-bearing seeds. At that point, the mature biomass is ready for harvest, separation and processing.
Getting the crop in the ground now puts UPPR on track to meet its extraction start date in early 4Q2019. Since the company owns a 100,000 square-foot facility in Center, Colorado as well as leases a 12,000 square-foot laboratory in San Diego, California, management anticipates that converting the biomass into high-grade CBD isolates and distillates will be a relatively straightforward process.
The company has also retained FDA-licensed contract pharmaceutical manufacturer, PrimaPharma Inc., (http://www.primapharma.net) to ensure that all products meet regulatory and commercial FDA cGMP standards. Most recently, UPPR has partnered with ICC Inc. (http://icc-inc.net) to build out the manufacturing systems that will turn industrial quantities of raw hemp into high-grade CBD products to meet parabolically increasing commercial demand.
Previously disclosed yield projections suggest that this season’s overall 1,200-acre production profile translates to 45,000 kilograms of high-quality CBD. As demand for the newly legalized, non-psychoactive chemical compounds formerly locked within the hemp plant expands, UPPR is ready to help fill the gap.
Fortune magazine and other publications have contemplated a 100X surge in CBD consumption between now and 2023, at which point UPPR and other producers will need to ramp up output from a currently minimal 55,000 kg of isolate to as much as 3.5 million kg.
UPPR research indicates that approximately 55,000 acres of hemp were harvested in 2018 across North America, enough to satisfy only 2 million kg of retail demand. On that basis, cultivation will need to expand to over 250,000 acres simply to meet projected 2020 consumption.
In the meantime, recent wholesale pricing on CBD isolates is running above $3,000 per pound ($7,000 per kilogram) and many organic hemp farmers target yields of 15% CBD or higher. As such, the acreage UPPR and its partners have planted can conservatively produce a crop worth the equivalent of $200,000 per acre, or a revenue event topping $200 million.
Fox Organic Farms will receive 50% of the ultimate proceeds from biomass harvested from its land (roughly $150 million in total) while the rest goes to UPPR in exchange for its processing services. In addition, all revenue ($50 million) from UPPR’s 330-acre planting will pass to the company to validate its seed-to-consumer business plan.
As such, while not all of the $200 million in total commercial value in this initial cultivation season will end up with UPPR, the company’s share of the ultimate harvest is tracking well above previously disclosed targets.
“Even though we have partnered with third parties to supply at least 2 million pounds of hemp biomass this season, it will be especially satisfying to process our own crop as well,” CEO Earle said.
“While we’re executing parts of our strategic plan up to a year ahead of schedule, our initial cultivation and extraction framework remains in place to exceed our revenue target for 2019. So far, so good.”
Yet another strong day!
Patiently waiting. Planted my seed awhile back, now watching for growth.
BioPharmX Reports Fiscal First Quarter 2020 Financial Results
SAN JOSE, Calif., June 11, 2019 /PRNewswire/ -- BioPharmX Corporation (NYSE American: BPMX), a specialty pharmaceutical company focused on developing innovative medical dermatology products, today reports financial results for the quarter ended April 30, 2019.
Recent Highlights
Completed the last patient visit in the Phase 2b clinical trial of BPX-041, a novel topical gel formulation of fully solubilized minocycline for the treatment of papulopustular rosacea. The company anticipates announcing topline efficacy and safety data from the study in early July 2019 pending database lock and results validation.
Raised net proceeds of $3.6 million from the sale of common stock in a registered direct offering.
Regained compliance with NYSE American continued listing standards related to the company's low stock price by effecting a 1-for-25 reverse stock split.
Entered into a Capital on Demand Sales Agreement with JonesTrading Institutional Services LLC whereby the company may issue common stock for proceeds up to $8.5 million from time to time through "at the market offerings."
Further reduced operating costs by reducing its workforce by approximately 20%.
"The company continues to take steps on behalf of its shareholders to advance and to drive value in its topical minocycline programs." said Dr. Tierney, BioPharmX CEO. "As such, we are looking forward to communicating the topline results from our Phase 2b rosacea study."
First Quarter Financial Results
For the first quarter ended April 30, 2019, total operating expenses were $3.6 million, compared with total operating expenses of $4.4 million in the prior fiscal year's first quarter.
Net loss for the quarter ended April 30, 2019 was $3.6 million, or $0.38 per share, compared with a net loss of $4.4 million, or $0.61 per share, during the prior fiscal year's first quarter.
Excluding stock-based compensation expense and the impact of change in fair value of warrant liability, non-GAAP net loss for the quarter ended April 30, 2019 was $3.4 million, or $0.36 per share. During the first quarter of the prior fiscal year, the comparable non-GAAP net loss was $3.7 million, or $0.52 per share.
Cash and cash equivalents, as of April 30, 2019, were $3.3 million.
On the regulatory front, the effort to protect banks that do business with cannabis companies from federal enforcement action made progress this week.
A bipartisan cannabis banking bill, the Secure And Fair Enforcement (SAFE) Banking Act, is moving closer to a full floor vote after it was placed on the Union Calendar, as advocacy site Marijuana Moment reported. Nearly half of all House members — 206 — have signed onto the SAFE Act as co-sponsors.
https://www.marijuanamoment.net/bipartisan-marijuana-banking-bill-quietly-advances-in-house-as-floor-vote-approaches/
Awesome couple of days! Looks like it's fighting it's way to the upper channel at around $95ish
I think it can make it! RSI is peaking, but MACD isn't done yet. Still going strong there. (1YR Chart)
Just been moving up nicely! Steady and strong!
Yes doogdilinger! This chart is looking like a repeat of Nov run! RSI has room, MACD on the upside, 50MA curling up towards 200MA (Golden Cross as you mentioned)!
Everything is coming together nicely here!
Still going strong here!
Unlimited MM shares seller VNDM sitting on the ask at between .89-95, but after he's sold enough, L2 shows $1.00+
Chart looks strong! Cruising nicely above the ascending 50MA and riding on/above the the ascending trend line from 9/918 low of .05.
Steady and strong accent since that post!