3D Signatures Reports Quarter Ended December 31, 2017 Financial Results
TORONTO, March 01, 2018 (GLOBE NEWSWIRE) -- 3D Signatures Inc. (TSXV:DXD) (OTCQB:TDSGF) (FSE:3D0) (the "Company" or "3DS"), a personalized medicine company with a proprietary software platform based on the three-dimensional analysis of chromosomal signatures, today reported operational and financial results for its fiscal second quarter ended December 31, 2017. 3DS also announced that it has terminated its investor relations services agreement with Terry Bramhall of Clearcut communications.
Second Quarter Operational Highlights
The primary operational milestones achieved in the Company’s second financial quarter of 2018 include completion of the clinical study component of its Telo-HLTM validation program, announced October 10, 2017, as well as two non-brokered private placements totaling $2,622,673, announced October 4th and December 5th, 2017. 3DS also announced on October 10, 2017, that two new patents governing high-resolution imaging in cancer progression and the stratification of Alzheimer’s patients had been issued by the United States Patent and Trademark Office.
Telo-HLTM is intended to provide clinicians with the first biomarker to identify the 15% - 20% of new Hodgkin’s lymphoma patients who will likely fail standard chemotherapy, and who should immediately be considered for more advanced treatment or inclusion into clinical trials to access emerging treatments such as immunotherapies. The Company believes that Telo-HLTM could provide several advantages to patients and healthcare system payers, including potentially indicating new treatment options, enabling shortened treatment cycles, reducing complications from ineffective treatments and allowing for treatment cost savings.
Subsequent to the end of the quarter, on February 20, 2018, the Company announced positive topline results from its Telo-HLTM study. Preliminary third-party analysis of the study data for Telo-HLTM shows that the Company’s TeloViewTM platform is able to distinguish, with a high degree of statistical significance, multiple differences between a patient group that responds to standard ABVD chemotherapy, and a group that relapses or is refractory to treatment within the first 12 months.
Six Month Financial Summary
Through efforts that are still ongoing, the Company significantly reduced its monthly burn rate and recorded a net loss of $2,621,655 ($0.05 per Common Share) for the six months ended December 31, 2017 compared to $4,976,684 ($0.13 per Common Share) for the six months ended December 31, 2016.
As at December 31, 2017, the Company had cash resources of $1,422,134 compared to $1,200,395 as at June 30, 2017. As at December 31, 2017 the Company had working capital of $1,016,957 compared to working capital of $1,329,408 as at June 30, 2017.
The Company’s financial statements and management’s discussion and analysis are available on www.sedar.com.
3DS (TSX-V:DXD) (OTCQB:TDSGF) (FSE:3D0) is a personalized medicine company with a proprietary software platform, TeloView™, that is designed to predict the course of certain diseases and to tailor treatment options for the individual patient. The technology is based on the three-dimensional analysis of telomeres, the protective caps at the ends of chromosomes. 3DS’ TeloView™ software platform measures the organization of the genome and its correspondence to; the stage of a given disease, the rate of progression of the disease, how different diseases will respond to various therapies, and a drug’s efficacy and toxicity. 3DS’ proprietary imaging software is designed to go beyond identifying whether a patient suffers from a specific disease or condition. Instead, the TeloViewTM platform is designed to inform clinicians and patients with respect to how to personalize treatment and best manage an individual’s disease based on their unique TeloView ScoreTM. As healthcare moves increasingly toward better informed, patient-centric approaches, the Company intends for the TeloViewTM platform to deliver personalized medicine that allows for better treatments, leading to better outcomes.
The TeloViewTM platform is supported by 25 clinical studies involving more than 3,000 patients and 20 different cancers, plus Alzheimer’s disease. 3DS benefits from twenty years of research, $25M of non-dilutive investment into its platform and more than 130 supporting publications, and holds a portfolio of patents related to three-dimensional telomere analysis for proliferative diseases, including (but not limited to) hematological disorders such as Hodgkin's lymphoma, multiple myeloma, and chronic myeloid leukemia. 3DS’ intellectual property portfolio also covers prostate cancer, breast cancer, lung cancer, melanoma, colorectal cancer, and Alzheimer disease.
For more information, visit the Company’s website at: http://www.3dsignatures.com
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CEO & Director