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Pharma & Biotech
Pharma & Biotech
16:45 Mon 14 Nov 2022
A glance at some of the day’s highlights from the Proactive Investors US and Canada newswires
Blackstone Minerals Ltd (ASX:BSX, OTCQX:BLSTF)‘s metallurgical test-work program has validated the process for the Ta Khoa Refinery Project (TKR) in Vietnam through production of battery-grade nickel and cobalt sulphates, and successful processing of third-party cobalt supply
In August 2022, Blackstone announced the completion of batch test-work and commissioning of piloting equipment as part of a definitive feasibility study test-work program being conducted by ALS metallurgical laboratories.
Brookside Energy Ltd (ASX:BRK) has drilling underway in its Phase Two development drilling program at the high-impact Wolf Pack 36-25-1S-4W SXH 2 Well in the SWISH Area of Interest (AOI) of Oklahoma’s world-class Anadarko Basin.
The Wolf Pack Well has been spudded by Latshaw Rig 12 after the successful completion of rig-up and equipment testing.
TRACON Pharmaceuticals Inc announced that it has ended its third-quarter 2022 with cash and equivalents of $17.0 million as of September 30, 2022, which the company says is expected to fund its operations into mid-2023.
The clinical stage biopharmaceutical company also noted that its net loss for the quarter narrowed to $6.4 million from $7.0 million a year earlier, as it reduced its general and administrative expenses for the period to $2.3 million, compared to $4.2 million in 3Q 2021.
Canadian firm Magnet Forensics Inc is a stock to watch after strong 3Q results sent its shares up over 17% last week.
The 3Q results come during a particularly steady bull run for Magnet shares, which have risen nearly 43% since the beginning of November – highlighting the strength of its cybersecurity business.
Cordoba Minerals Corp (TSX-V:CDB, OTCQB:CDBMF) announced that it has arranged a short-term, or bridge loan of US$2.5 million with its majority shareholder, Ivanhoe Electric Inc.
The mineral exploration firm said the purpose of the bridge loan is to ensure the company can continue exploration activities and the advancement of its mineral projects, including the Feasibility Study technical work program at its 100%-owned San Matias copper-gold-silver project in Colombia, and for general corporate purposes.
MGX Minerals Inc revealed that it has received a formal proposal for the design, engineering, procurement, construction, and commissioning of a 15-tons-per-day (TPD) silicon metal pilot processing plant at its Gibraltar Silicon project in British Columbia.
The current price of silicon metal freight on board (FOB) in east China is US$3,035 and has remained constant around US$3,000 for an extended period, according to Metals.com.
Westwater Resources Inc’s (NYSE-A:WWR) third quarter results showed further progress and solid execution according to analysts at Water Tower Research.
The company reported a reduction in third quarter net losses of $3.453 million compared to $4.568 million in the year-ago period, with modestly higher selling, general and administration expenses more than offset by lower product development costs.
NexTech AR Solutions Corp presents an augmented reality and metaverse investment opportunity, as the company is building a niche in the ecommerce market with its 3D modeling initiatives, according to US-based broker Singular Research.
Along with the ‘Buy-Venture’ rating, the analysts issued a 12-month price target of $1.50, 9.5 times the 2023 enterprise value-to-revenue rating.
Harbor Custom Development Inc ended the third quarter with sales of $11.7 million despite a slowdown in the otherwise red-hot US housing market due to rising mortgage rates and a challenging environment.
The US housing market surged during the pandemic as homebound people sought new places to live, boosted by record-low interest rates. However, things have changed drastically with the average rate on the 30-year fixed mortgage, which started this year right around 3% now just above 6%.
Q BioMed Inc has given itself a big shot in the arm, adding a multi-million dollar asset in the form of an equity stake in long term partner Mannin Research, which has a drug development pipeline poised to be a multi-billion dollar blockbuster franchise for years to come.
The company has converted its long-term royalty agreement into a 15% equity stake in private Mannin – a holding, which has a current valuation of C$30 million. It also means Q BioMed will receive a royalty payment of $20 million on realization of future net sales.
ACME Lithium Inc. (CSE:ACME, OTCQB:ACLHF) reported that Hasbrouck Geophysics has successfully completed gravity and Hybrid-Source Audio-Magnetotellurics (HSAMT) surveys at the company’s Fish Lake Valley (FLV) project, in Esmeralda County, in Nevada.
The Vancouver-based mineral exploration company focused on acquiring, exploring, and developing battery metal projects said the gravity survey indicates the presence of a down-dropped basin with interpreted target clay sediments potentially targeting similar illite-smectite units identified in the nearby Rhyolite Ridge lithium deposit.
Auxico Resources Canada Inc (CSE:AUAG, OTC:AUXIF) has announced the appointment of Byron King to the company’s board of directors as independent non-executive director, effective November 14, 2022.
The mineral properties developer said King’s appointment is a valuable addition to the board due to his outstanding international career and focus on the critical minerals space, financial markets and public policy.
Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE), which works on innovative pharmaceutically produced transdermal cannabinoid therapies for neuropsychiatric disorders, posted results for the third quarter that revealed ample cash on hand, giving the company scope to fund pivotal trials of its flagship product Zygel (ZYN002).
As of September 30, 2022, the Devon, Pennsylvania-based company had cash and equivalents of $55.9 million, compared to $67.8 million at the end of December 2021.
Jushi Holdings Inc (CSE:JUSH, OTCQX:JUSHF) reported preliminary third quarter results highlighted by an increase in revenue and profits.
The US multistate operator (MSO) said it expects future growth to be delivered by its Virginia market.
VolitionRx (NYSE-A:VNRX) Limited said it will work with a renowned French veterinary referral clinic to further assess the potential of its cancer screening technology in dogs and cats.
A non-interventional study of Volition’s Nu.Q Vet Cancer Test will be overseen by Dr Jérôme Benoit, the clinical director of Oncovet in Lille.
Infinity Stone Ventures Corp (CSE:GEMS) provided an update on its fall drill program at the Rockstone graphite project located near Thunder Bay, Ontario, saying it anticipates that it will complete the program with the RS-22-03 step out drill hole by November 18, 2022.
The company noted that it has completed the drilling of hole RS-22-01, a twin of historic drill hole GC-12-01, which intercepted a three meter (m), massive to semi-massive graphite lens.
AIM ImmunoTech Inc (NYSE:AIM) has revealed positive data evaluating Ampligen (rintatolimod) as a component of a regimen for the treatment of early-stage triple negative breast cancer.
Led by by Roswell Park Comprehensive Cancer Center medical oncologist Dr Shipra Gandhi, the data will be presented in a poster presentation at the Society for Immunotherapy of Cancer 37th annual meeting being held virtually and in Boston, Massachusetts from November 8 to 12, 2022.
New Pacific Metals (TSX:NUAG, NYSE:NEWP) has unearthed further gold and silver mineralization from its 2022 campaign at the Carangas silver-gold project in Bolivia.
The company told investors that latest assays covering six deep drill holes have helped define the extent of a gold mineralization beneath a shallow silver mineralization zone.
Canada Silver Cobalt Works Inc. (TSX-V:CCW) has announced additional assay results from its 60,000-metre (m) drill program at Castle East completed earlier this year, including intercepts up to 4,710.00 grams per tonne (g/t) silver over 0.53m and 3,020.00 g/t silver over 0.67m.
“These drill results at Castle East are, once again, excellent news. Previous releases announced increased continuity on the Big Silver, 61, and 50 Zones,” Canada Silver president and COO Matthew Halliday said in a statement.
ImagineAR Inc. (CSE:IP, OTCQB:IPNFF) announced it is teaming up with SIDEARM Sports, a leading digital fan engagement platform, to deliver immersive college football AR experiences starting in January 2023.
Syracuse, New York-based SIDEARM Sports provides industry-leading software and technology that powers websites, mobile applications, CTV, live stats, video streaming and more for over 1,500 partners.
Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF) has developed a psilocin prodrug that may be just as effective at treating depression as psilocybin but better tolerated.
The company’s chief scientific officer, Joseph Araujo, recently presented findings at Neuroscience 2022, a conference hosted by the Society of Neuroscience, in a poster titled “The Preclinical Safety, Behavioural and Pharmacokinetics Properties of MSP-1014, a Novel Prodrug of Psilocin.”
Wellbeing Digital Sciences (NEO:MEDI.AQN, OTCQB:KONEF) Inc announced that its wholly-owned subsidiary KGK Science Inc has completed an open label study, in which Gefion Canada GT4 technology was used to successfully deliver cannabidiol (CBD) and tetrahydrocannabinol (THC) to healthy volunteers in the form of a topical cream applied to the skin.
The mental healthcare company said Gefion GT4 technology, which uses novel penetrating agents to transport CBD and THC through the skin and directly into the blood, may provide lower, more steady-state cannabinoid concentrations that minimize psychoactive effects in participants.
Sidus Space Inc (NASDAQ:SIDU), a Space-as-a-Service satellite company, reported revenue growth of 164% for the third quarter as it continues to take “meaningful steps” toward the inaugural launch of its LizzieSat Constellation.
Revenue for the three months to September 30, 2022 was $1.32 million, up from $500,000 in the comparable period last year, the company said.
Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) has noted ongoing progress from Armada Metals Limited at the Nyanga project in Gabon.
Metal Tiger holds 15mln Armada Shares, representing approximately 14.42% of Armada’s issued share capital.
Empower Clinics Inc. (CSE:EPW, OTCQB:EPWCF), the integrated healthcare company, said it has appointed Alexis Wukich to its board of directors effective immediately.
Wukich has 15 years of experience as an entrepreneur, lawyer, and talent management leader in the US medical industry.
Solstice Gold Corp. (TSX-V:SGC) has provided an update on its royalty and property portfolio located in Ontario and Quebec.
The company said the portfolio was acquired in October last year as part of its strategy of value creation for shareholders, to decrease financial risk and to potentially generate funding for its exploration activities at its core properties.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has brought its new solar power plant at its Blanket mine in Zimbabwe on stream.
Blanket currently receives its power from ZESA, Zimbabwe’s national electricity supplier.
Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) booked a loss before tax for the nine months to the end of September of £1.9mln. The loss for the three month period was £536,000. The company closed out the quarter with £570,000 in cash.
During the period, feasibility study confirmatory metallurgical testwork at the company’s La India project in Nicaragua demonstrated that gold recovery is independent of grade. Accordingly, a fixed gold recovery of 91% assuming a 75 micron grind size is being used in the project economics.
Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) (DEC) raised its annualised quarterly dividend by 3% to 4.375c and said it had closed a fourth debt securitisation this year following the recent acquisition of assets from ConocoPhillips (NYSE:COP).
Average production in the three months to end-September 2022 was 135,000 barrels daily (808mln cubic feet gas equivalent), which DEC said was consistent with its estimated decline rate.
Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) has retained its buy recommendation from Shaw and Partners following the release of the Definitive Feasibility Study (DFS) at its Lance Uranium Project in Wyoming during the September quarter.
The investment manager expects Peninsula to announce a Final Investment Decision this quarter and has set a price target of A$0.34 (current share price: A$0.18).
Imugene Ltd (ASX:IMU, OTC:IUGNF) and partner Estrella Biopharma, Inc, a preclinical-stage biopharmaceutical company, have presented on Imugene’s onCARlytics (CF33-CD19) oncolytic virus in combination with Estrella’s CD19-Redirected ARTEMIS® T cells at the annual meeting for the Society for Immunotherapy of Cancer (SITC).
Dr Anthony Park, from Dr Saul Priceman’s laboratory at City of Hope, presented the poster: ‘CF33-CD19t oncolytic virus (onCARlytics) targets hepatocellular carcinoma (HCC) and in combination with CD19- Redirected ARTEMIS® T cells, results in significant tumour killing’ at the conference, held in Boston, USA, from November 8-12.
Key findings presented were that:
Africa Oil Corp (TSX:AOI) said it has bought back a total of 2,074,350 common shares between November 7, 2022 and November 11, 2022 under the previously-announced share buyback program. During that period, the company repurchased 834,350 common shares on the TSX and/or alternative Canadian trading systems and 1,240,000 common shares on Nasdaq Stockholm. Also during that time, Africa Oil cancelled 2,424,960 shares repurchased under the share buyback program. Since September 27, 2022, a total of 15,757,710 Africa Oil shares have been repurchased up to and including November 11, 2022. A maximum of 40,482,356 shares may be repurchased over the period of twelve months commencing September 27, 2022 and ending on September 26, 2023, or until such earlier date as the share repurchase program is completed or terminated by the company, it added.
Looking Glass Labs said it has completed its admission to the Access segment of the AQSE Growth Market and trading will commence on November 14, 2022 under the ticker “NFTX”. The company’s shares will also continue to trade on the NEO Stock Exchange in Canada. “It is a significant achievement to now be able to offer UK-based investors the ability to invest in LGL more easily and directly via its admission to the AQSE Growth Market. AQSE is a great platform for growing companies to access new investors,” said Dorian Banks, LGL’s CEO. “Adding AQSE as a forum for the trading of our common shares in addition to them being available on the NEO Exchange, OTC Market and Frankfurt Bourse is an example of how LGL is striving to bring the business of NFTs and the metaverse to more people around the world,” he added. LGL will have a dual listing with its common shares fully fungible through a CREST Depositary Interest, which will carry the same ISIN as the common shares listed in Canada on NEO. The issued share capital of LGL comprises 129,744,338 common shares.
PyroGenesis Canada Inc. (TSX:PYR, NASDAQ:PYR) announced that it plans to host a conference call at 10:00 AM Eastern Time on Tuesday, November 15, 2022, to discuss its financial results for the third quarter ended September 30, 2022, as well as corporate progress and other developments. To access the conference call, please pre-register using this link: https://register.vevent.com/register/BI3aa5e141a3af444ba0f0f2966120e2b3. Registrants will receive a confirmation with dial-in details.
Logiq Inc. (NEO:LGIQ.AQN, OTCQX:LGIQ) announced it will hold a conference call to review its third quarter 2022 financial and operational results, ended September 30, on Tuesday, November 15, 2022, at 10:30 a.m. Eastern time. The company will release its financial results in a press release prior to the call. Audio Access Link: https://us06web.zoom.us/j/83528915312?pwd=cG5xeXJMYlNSMGl2SmRTRHNmWmMvUT09; Meeting ID: 835 2891 5312; Passcode: 274593; Dial in: +1 646 931 3860.
AmeraMex International (OTCQB:AMMX) has scheduled conference call to review its financials for the third quarter and nine-month period ending September 30, 2022. CEO Lee Hamre and president Brian Hamre will host the conference call on Tuesday, November 22, 2022, at 10:00 a.m. Pacific Time, 1:00 p.m. Eastern Time. The conference call dial-in number for both U.S. and international callers is 1.201.689.8560. Please dial into the conference center five minutes before the call begins and ask the operator for the AmeraMex conference call. An audio replay of the call will be available from November 22, 2022, at 4:00 p.m. Eastern Time until December 5, 2022, at 11:59 p.m. Eastern Time. The replay is accessible by dialing 1.412.317.6671 and entering pin number 13734497.
Co-Diagnostics Inc (NASDAQ:CODX) will be hosting a booth this week at the MEDICA 2022 trade fair in Düsseldorf, Germany from 15-17 November. Attendees interested in learning more about the Company and its products, including its upcoming Co-Dx PCR Home platform, are invited to visit Booth 3D15.
Wellteq Digital Health Inc. (CSE:WTEQ, OTCQB:WTEQF) will host a webcast investor presentation on Wednesday, November 16th, at 10:00 AM ET. During the webcast, Scott Montgomery, CEO will provide an update on Wellteq’s announced transaction with Advanced Human Imaging Ltd. The two businesses post-closing will combine to form a technology company that will strive to provide proactive, personalized healthcare solutions for smartphone users. Scott Montgomery the current CEO of WTEQ will become the new CEO of the combined business post-closing of this transaction. Shareholders and investors will also have an opportunity to ask relevant questions through an interactive Q & A portal. To access the webcast or to ask questions during the live event, please pre-register at the following link: https://event.webcasts.com/starthere.jsp?ei=1581196&tp_key=a85b5e1fd8.
BioHarvest Sciences Inc. (CSE:BHSC, OTC:CNVCF) announced that its CEO Ilan Sobel will host an online investor presentation on November 16, 2022. Following the October 25th breakthrough achievement and other important recent developments at BHSC and in the cannabis market, the company invites all interested investors and media to register for this event, where Ilan Sobel will share updated details on the multi-pronged strategy to bring unique cannabis products to the North American market. Please register for the Wednesday, November 16, 2 PM EST/11 AM PST Zoom Conference here: https://us02web.zoom.us/webinar/register/WN_y44ONRvVQ9Ou5bhWtHrvAA. The presentation will be approximately 45 minutes, followed by a live question and answer session. All registrants will be emailed a recording of the session, and any questions regarding the company or the November 16 Webinar can be directed to [email protected]
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