3D SIGNATURES REPORTS FINANCIAL RESULTS FOR 2017
3D Signatures Inc (TSX-V:DXD) (OTCQB:TDSGF) (FSE:3D0)
Shares Issued 46,445,199
Last Close 10/24/2017 $0.28
Tuesday October 24 2017 - News Release
Mr. Jason Flowerday reports
3D SIGNATURES REPORTS FINANCIAL RESULTS FOR 2017
3D Signatures Inc. has released its operational and financial results for its fiscal year ended June 30, 2017.
The Company recorded a net loss of $9,913,401 ($0.21 per Common Share) in the year ended June 30, 2017 and $1,758,719 ($0.07 per Common Share) in the year ended June 30, 2016. In the three months ended June 30, 2017, the net loss was $2,764,895 ($0.05 per Common Share) as compared to $510,877 ($0.02 per Common Share) in the three months ended June 30, 2016. The increase in the net loss was primarily due to an increased wage expense for both clinical staff and management. Stock based compensation, costs associated with the listing of the Company's stock on the TSXV and ongoing expenses relating to the Company's operations as a reporting issuer also contributed to the increased net loss.
"This past year was a transitional one. We stayed on schedule and accomplished a lot, most importantly staying on track with our key clinical trial in Hodgkin's lymphoma," stated Jason Flowerday, CEO of 3DS. "That said we have and continue to reorganize our budget significantly, reducing and prioritizing expenditures to ensure sustainable operations going forward. The Company is extremely focused on initiating the commercial launch of its Hodgkin's lymphoma test as an LDT in Q1 2018," added Mr. Flowerday.
Fiscal 2017 Corporate Highlights,
On September 8, 2016, 3DS (formerly Plicit Capital Corp. ("Plicit") announced the completion of its qualifying transaction and reverse takeover, as that term is defined in the policies of the TSX Venture Exchange ("TSXV"), approved by the TSXV. The shareholders of the acquired company, 3D Signatures Inc., received 4.0376 shares of 3DS for each one of Plicit's shares.
On September 8, 2016, 3D Signatures Inc. (now 3D Signatures Holdings Inc.) became a wholly owned subsidiary of Plicit and Plicit changed its name to 3D Signatures Inc.
On September 13, 2016, 3DS started trading on the TSXV under the symbol DXD.V.
On September 27, 2016, 3DS appointed Jason Flowerday, B.Sc, MBA as the Company's Chief Executive Officer and concurrent appointment to the Company's Board of Directors, to lead the Company's commercialization efforts and capital markets strategy.
On October 19, 2016, 3DS announced its participation in a major clinical trial for prostate cancer diagnosis and management, known as PRECISE.
On October 27, 2016, the Company introduced the Company's Business Advisory Board ("BAB"), consisting of senior biotech industry executives.
On November 14, 2016, the Company introduced the Company's Clinical and Scientific Advisory Board ("CSAB"), comprised of physicians and researchers.
On December 5, 2016, the Company announced the appointment of Mr. Nigel Terrett to the BAB.
On December 6, 2016, 3DS presented the preliminary results of an important collaborative initiative between the Company and the Institut universitaire de cardiologie et de pneumologie de Quebec, exploring the possibility of identifying a biological marker to distinguish between two forms of lung cancer.
On December 9, 2016, the Company announced that Helen Stevenson was appointed to the Board of Directors, replacing Dr. Ian Smith, who stepped down from the Board of Directors and joined the Company's CSAB.
On December 16, 2016, 3DS announced the closing of a private placement for 5,187,618 units sold at a price per unit of $0.75 for total gross proceeds to the Company of $3,890,714, including the partial exercise of the over-allotment option, granted in connection with the private placement.
On December 22, 2016, 3DS announced that it had issued an additional 215,300 units pursuant to the second tranche of the private placement, which were sold at $0.75 per unit for gross proceeds to the Company of $161,475 pursuant to the partial exercise of the over-allotment option.
On December 22, 2016, 3DS also announced that it had retained Kilmer Lucas Inc. to provide Canadian and U.S. investor relations and strategic advisory services.
On January 4, 2017, 3DS announced that its common shares (the "Common Shares") had started trading on the OTCQB Venture Market ("OTCQB") in the United States under the symbol "TDSGF" and on the Frankfurt Stock Exchange in Germany under the symbol "3D0". As well, the Company announced that it had secured Depository Trust Company ("DTC") eligibility for its Common Shares listed on the OTCQB, which made the securities eligible to be electronically cleared and settled through the DTC, speeding up the receipt of stock and cash and accelerating the settlement process for investors.
On January 6, 2017, 3DS announced the issuance of an additional 597,082 units pursuant to the third tranche of the Company's previously discussed private placement, which were sold at $0.75 per unit for gross proceeds to the Company of $447,812 pursuant to a further partial exercise of the over-allotment option.
On January 6, 2017, the Company appointed Joost van der Mark, as its Chief Business Officer. Mr. van der Mark brought more than two decades of executive experience to 3DS, having worked with several major international healthcare companies, as well as earlier stage biotechnology and healthcare firms.
On February 21, 2017, 3DS' co-founder and principle inventor, Dr. Sabine Mai, presented at the 24th International Molecular Medicine Tri-Conference in San Francisco, CA, on the results of a prospective blood-based prostate cancer pilot study using the Company's TeloView{A ™} software platform. Based on blinded blood samples, TeloView{A ™} correctly predicted the stability and aggressiveness of disease for each of the study's 50 intermediate risk prostate cancer patients.
On February 23, 2017, 3DS announced that the validation program for its Hodgkin's Lymphoma ("HL") test ("Telo-HL"), a five-stage program aimed at the development of a commercially marketable LDT within the next twelve months, is underway. On March 29, 2017, the Company announced the successful internal analytical assay validation, referred to as Stage 2 of the validation program.
On March 14, 2017, 3DS announced that it had made the final payment to CancerCare Manitoba ("CCBM") for the purchase of intellectual property. CCMB previously assigned this intellectual property to 3DS on June 26, 2014. CCMB retains a 1.5% royalty on all gross revenues derived from the commercialization of these patent rights and related products.
On March 21, 2017, 3DS announced the clinical study results which confirmed that, based on a swab of a patient's cheek, the Company's TeloViewTM software platform has the ability to identify patients with Alzheimer's disease and distinguish between mild, moderate, and severe forms of the disease. The results of this study have been accepted for publication in the peer-reviewed Journal of Alzheimer's Disease.
On April 11, 2017, the Company announced the appointment of Dr. Kevin Little as its Chief Scientific Officer. Dr. Little provides the Company with a successful track record of clinical and executive experience with life sciences firms, including those who are focused on growth.
On April 18, 2017, the Company announced the relocation of its corporate office to the MaRS Discovery District located in Toronto. Management completed the relocation on April 30, 2017.
On April 27, 2017, the Company announced that it had received the first batch of blood samples for PRECISE. The samples were received for processing and analysis at the Company's laboratory.
On May 5, 2017, the Company announced the resignation of Ferenc Somogyvari from the Board of Directors. Mr. Somogyvari joined the Company's CSAB.
On June 8, 2017, the Company announced the commencement of the clinical trial component of the Telo-HL validation program. The process was Stage 3 of the validation program.
The Company's financial statements and management's discussion and analysis are available on www.sedar.com.
About 3D Signatures Inc
3DS (TSX-V:DXD) (OTCQB:TDSGF) (FSE:3D0) is a personalized medicine company with a proprietary software platform based on the three-dimensional analysis of chromosomal signatures. The technology is well developed and supported by 22 clinical studies on over 2,000 patients on 13 different cancers and Alzheimer's disease. Depending on the desired application, this platform technology can measure the stage of disease, rate of progression of disease, drug efficacy, and drug toxicity. The technology is designed to predict the course of disease and to personalize treatment for the individual patient.
Investor Relations
Terry Bramhall
1-604-428-8842
© 2017 Canjex Publishing Ltd.
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