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NA Proactive news snapshot: Dyadic International, Biocept, Aftermath Silver, Duos Technologies UPDATE …

A glance at some of the day's highlights from the Proactive Investors US and Canada newswires

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Your daily round-up from the world of Proactive

Dyadic International Inc (NASDAQ:DYAI) reported third-quarter results after the bell Wednesday that showed research and development revenue growth and a strong cash position.  R&D revenue grew to $454,507 from $262,960 year-over-year for the three months ended September 30, and the company’s cash and equivalents increased to $4.7 million from $2.4 million. “Our financial position remains solid with approximately $37.2 million in cash and investment grade securities, including accrued interest,” CEO Mark Emalfarb said in a statement. “We are debt-free and we are further supported by partner funded on-going R&D collaborations. In sum, we are very well-positioned to execute on our vision of creating more efficient and commercially cost-effective healthcare solutions for society globally."

Biocept Inc (NASDAQ:BIOC) reported a record third-quarter revenue driven by commercial testing of its liquid biopsy technology Target Selector, according to results released on Wednesday afternoon. The San Diego-based molecular diagnostics firm reported total 3Q revenue of $1.5 million, a 101% increase over 2018 figures and up 28% from the previous quarter. Revenues for the quarter included $1.4 million in commercial test revenue, $40,000 in development services test revenue and $60,000 in revenue for Target Selector RUO kits, which were commercially launched in early 2019, and CEE-Sure blood collection tubes. The higher revenue figures were largely thanks to a 66% increase in the number of billable commercial samples, the company told investors.

Duos Technologies Group Inc (OTCQX:DUOT), a provider of intelligent security analytical technology solutions, on Wednesday said it expects strong fourth-quarter revenue with full-year guidance of between $13.5 million and $14 million. The Jacksonville, Florida company also reported its reported financial results for the third quarter that ended September 30. Duos said 3Q revenue decreased 57% to $2.2 million, compared to $5.1 million in the same quarterly period last year due to several shifts in timing of projects dictated by customer construction delays. While these delays impacted the project's revenue portion for the quarter, the company said they are not expected to have a material impact for the full year 2019.

Aftermath Silver Ltd (CVE:AAG) (OTCMKTS:FLMZF), a junior exploration company with silver interests in Chile, has begun trading on the OTCQB Market under the symbol FLMZF. The company will continue to trade on the Toronto Stock Exchange Venture under the symbol AAG. "We are pleased to be accepted to trade on the OTCQB Market,” CEO Ralph Rushton said in a statement. “The increased exposure to US retail and institutional silver investors that this platform provides should generate additional liquidity and allow us to expand our shareholder base."

Shares in Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) shot up Wednesday as the company posted latest drill results from the Philadelphia project in Mohave county, which underlined the potential of the gold and silver project. Significant gold intersections have now been found in all of the nine (9) reported drill holes from the property so far, the firm noted. Drilling continues to hit high grades of gold-silver mineralization along strike towards the north from historic high-grade underground production on the Philadelphia vein.

IEC Electronics Corp (NYSEAMERICAN:IEC) CEO Jeff Schlarbaum says Taiwanese electronic component manufacturer Yageo Corporation’s acquisition of US rival Kemet Corporation (NASDAQ:KEM) may pose a national security risk and other problems. Under the deal announced Tuesday, Yageo will buy Kemet – one of the world’s largest makers of multilayer ceramic capacitors – for $1.8 billion. The acquisition will allow Yageo to expand it global footprint in North America, Europe and Asia. However, Schlarbaum on Wednesday said problems can arise when suppliers merge. There is a risk of product consolidation when there is potential “redundancy” within their portfolio and a rationalization of manufacturing, he said. 

Ecuadorian-focused junior Salazar Resources Limited (CVE:SRL) and its partner Adventus Mining Corporation (CVE:ADZN) are ensuring that the local community surrounding the Curipamba copper-gold project is benefitting from operations in the area, the companies told shareholders on Wednesday.Curipamba covers over 21,500 hectares in central Ecuador. Local programs surrounding the project area are designed to encourage education, capacity building, environmental protection and economic development. Initiatives are run by Ecuadorian company Curimining SA, whose staffers are all members and residents of the community.

American Battery Metals Corporation (OTCMKTS:ABML) CEO Doug Cole told investors Wednesday that a recent lithium discovery in California by London-based Rio Tinto plc (LON:RIO) is a promising moment for the industry as a whole. The miner said it could become the largest supplier of lithium in the US if it can successfully process the metal at a large scale, according to a report from the Financial Times in October. In addition to its own lithium mining claims at Railroad Valley, Nevada, American Battery Metals operates in the extraction and battery recycling spaces, two verticals Cole says can generate revenue from other companies.

Allot Ltd (NASDAQ:ALLT), the security and smart network intelligence solutions company, released findings Wednesday from the latest edition of its Telco Smart Trends Report. The report outlined a consensus in the attitudes of communication service providers (CSPs) in improving quality of experience (QoE) and the evident need for intelligent network congestion management solutions to ensure customer experience, even as the industry transitions to high-capacity 5G. In the survey, more CSPs picked QoE (26%) as their top business objective, more than competitive pricing (25%), reduction of capital expenditures (17%) and market share (14%).

Hill Street Beverage Company Inc (CVE:BEER) (OCTMKTS:HSEEF) reported a boost to its plans for cannabis infused drinks as it struck a production deal with Peak Processing Solutions. The latter is a Canadian cannabis co-packing and white label product manufacturing firm, currently completing its purpose-built, world-class beverage and consumer products production facility. Peak still needs to receive its Health Canada licence to manufacture cannabis edibles, which is expected early next year. Hill Street has inked a non-binding and non-exclusive letter of intent to produce cannabis infused beverages at Peak's facility. Under the deal, Peak will manufacture strategic products in specific formats, which are attractive to Hill Street's cannabis edibles consumers.

NetCents Technology Inc (CSE:NC) (OTCMKTS:NTTCF) said Wednesday that it had signed-up its 50th partnership agreement with Agape Global Services Inc, which offers premium credit card processing services. Vancouver-based NetCents, which offers products that allow businesses to accept instant cryptocurrency payments, said the milestone validated its business model. The digital payments specialist’s blockchain platform allows businesses to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. 

CytoDyn Inc (OTCMKTS:CYDY) said Wednesday that it has received approval from the Institutional Review Board for its drug leronlimab to be given to patients with triple-negative breast cancer (TNBC) under compassionate use, which is also known as the expanded access program. In a statement, the Vancouver, Washington-based late-stage biotechnology company said the program will allow TNBC patients who are not eligible under the ongoing Phase 1b/2 clinical trial to receive leronlimab (PRO 140). Under this protocol, patients with locally recurrent or metastatic triple-negative breast cancer who had progressed within six months or less on chemotherapy received leronlimab with a treatment of a physician’s choice.

American Manganese Inc (CVE:AMY) (OTC:AMYZF) highlighted the continued improvement of its battery recycling technology on Wednesday, saying its contractor Kemetco had recovered 99.98% nickel-cobalt hydroxide from the NCA cathode scrap material it received from a tier-one lithium-ion battery company. The firm noted that the figure was an even higher purity than the previously reported purity results (99.94%) during stages three and four of the pilot plant project, as announced in August this year.

VolitionRx Limited (NYSEAMERICAN:VNRX) posted third-quarter results that saw its balance sheet strengthened. The Isnes, Belgium-based multi-national life sciences company, which is developing easy-to-use blood-based cancer tests to diagnose a range of cancers, said its cash and equivalents as of September 30, 2019 totaled $19.7 million compared to $13.4 million as of the end of 2018.  The company noted an additional $4.8 million in aggregate of warrants were exercised at $3 per share. It was also awarded $1.4 million in grant-funding from the Walloon Region and, subsequent to quarter-end, a $500,000 loan from SOFINEX was approved. In a statement, CEO Cameron Reynolds said: “We’ve made excellent progress this quarter on our platform development, Nu.Q Capture, Nu.Q Vet and our colorectal cancer and lung cancer trials, particularly in Asia, and we reported our first revenues from sales of research use only kits and contract research services.”

Acasti Pharma Inc (NASDAQ:ACST) (CVE:ACST) told shareholders that it remains on track to report topline results from its TRILOGY studies of lead drug CaPre, a key catalyst in the pharmaceutical company’s path to commercialization. CaPre is a purified omega-3 concentrate derived from krill oil being developed to treat severe hypertriglyceridemia (HTG). Assuming study results are positive, Acasti intends to file an NDA by mid-2020 to obtain regulatory approval for the drug in the US, initially for the treatment of severe HTG. The Laval, Quebec-based company said it hopes to launch CaPre in the US by the second half of 2021. 

Silvercorp Metals Inc (NSYEAMERICAN:SVM) (TSX:SVM) declared a semi-annual dividend of 1.25 US cents per share to be paid to all shareholders of record at the close of business on November 27 this year with payment scheduled on or before December 18 this year. The firm produces silver, lead and zinc metals in concentrates from mines in China.

Azarga Metals Corp (CVE:AZR) reported good progress on the ongoing drill program at the giant Unkur copper silver project in the Russian Far East where two holes have hit copper sulphide mineralization.  Notably, the two holes were sunk at the asset's Unkur southeast target, 2 km southeast of the current inferred resource. "If the assay results show significant copper and silver grade, this will extend the known envelope of mineralization quite some distance to the southeast at Unkur and bodes well for the drilling of other areas extending over several kilometers identified as drill targets in the magnetic survey," said  Dr Alexander Yakubchuk, the vice-president of exploration.

Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) outlined the findings of a key airborne survey covering its Stonepark, PG West and Silvermines zinc projects in Ireland, which should help it refine its exploration aims for 2020. The 'Tellus' airborne geophysical survey managed by the Geological Survey of Ireland, covered a contiguous area of 4,649 sq km and was flown over most of last year and ended in March 2019. The work identified some large surprises, the firm said, including identifying unknown geological features which open up new areas of prospectivity and refine target placement.

Orsu Metals said the TSX venture exchange had accepted for filing documentation for a non-brokered private placement announced on October 21 this year, for 1.4 million shares at C$0.2385 and  1.4 million warrants to buy 1.4 million shares with an initial exercise price of C$0.36 and expiry of three years.

ICC International Cannabis Corp (CSE:WRLD.U) (OTCMKTS:WLDCF) has canceled its purchase of a stake in Wayland Group Corp’s (CSE:WAYL) (OTCMKTS:MRRCF) international portfolio of cannabis assets, licenses and operations. Under the terms of a termination agreement dated October 11 between the two parties, ICC will give up its right to acquire the assets, and Wayland will return the 246.6 million common shares it received. The companies also reached a cannabis toiling agreement, which will see Wayland process ICC-produced cannabis at its facilities.

LexaGene Holdings Inc (CVE:LXG) (OTCMKTS:LXXGF) CEO Dr Jack Regan says the C$6.6 million financing that closed last month “puts the company in a very strong position to advance our commercial development goals” concerning its LX2 Genetic Analyzer. In a statement, Regan said the company’s genetic analyzer for rapid pathogen detection and other molecular markers was successfully beta-tested during the summer and early fall. “We’ve gone from being a company with a vision and R&D focus to carrying out beta testing, and now we’re ramping up for our commercial build,” he said. Management is using these funds to expand the development team in the areas of mechanical, electrical, and software engineering to speed the company’s ability to evaluate and finalize different components for the commercial design of the LX2 Genetic Analyzer. 

Explorex Resources Inc (CSE:EX) (OTCMKTS:EXPXF) has closed the second and final tranche of a C$400,000 previously announced financing consisting of up to 2 million shares at C$0.20 each, raising aggregate gross proceeds of C$72,200. Along with the first tranche, the firm will issue over 1.97 million shares for total gross proceeds of C$399,565 in the financing. The funds will be directed toward general operating costs and exploration on the company's projects, it said. The exploration group is focused on cobalt and metals critical to rechargeable battery technology.

Orgenesis Inc (NASDAQ:ORGS), a developer of advanced cell therapies, said Wednesday that CEO Vered Caplan appeared as a guest during the “Israel Business Weekly” segment hosted by Michelle Makori and Eric Landskroner on the i24News Network. Caplan discussed how she believes that Orgenesis is transforming the cell and gene therapy market and lowering costs to deliver potentially life-saving therapies to patients. The segment aired on November 10 and can be viewed online at: https://www.Orgenesis.com/news-media/video.

ElectraMeccanica Vehicles Corporation (NASDAQ:SOLO) on Wednesday said it has been invited to showcase its flagship, single-seat SOLO electric vehicle at the prestigious Petersen Automotive Museum in Los Angeles. The museum is holding its upcoming “Alternating Currents: The Fall and Rise of Electric Vehicles” exhibition, which will open to the public on November 20 and run through October 2020.  The exhibit recognizes innovation in the electric vehicle automotive industry stretching back to its infancy in the mid-19th century. “It’s a distinct honor to receive this invitation from one of the world’s preeminent automotive institutions,” said CEO Paul Rivera in a statement.

Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) reported third-quarter results before the bell Wednesday, meeting analysts’ earnings expectations and highlighted a big boost to its cash on hand.  The company ended September with $32.7 million in cash and cash equivalents, compared with $12.4 million at the end of December. The biggest driver of the cash increase was a public offering in March, and the company said it believes it has enough money to fund its operations through 2021.  Matinas posted an earnings loss of $0.03 per share, exactly in line with Street expectations.

Nabis Holdings Inc (CSE:NAB) (OTCMKTS:NABIF) is offering its shares to US investors by way of an OTC listing. The Vancouver-based cannabis company began trading on the OTCQB market on Wednesday under the symbol NABIF. Shares traded at US$0.07 as Wednesday’s trading began in North America.

 

 

 

 

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