Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) shares surged in New York on Monday as the company outlined a raft of highlights in its first quarter to end March and said it had enough cash to sustain its operations into the second half. The specialty pharma company is developing novel transdermal CBD treatments for patients suffering rare epilepsies and neurological disorders. Looking ahead, the firm said: "Management believes that the cash runway is sufficient to fund operations and capital requirements beyond the expected NDA submission and potential approval of Zygel in FXS and into the second half of 2021."
BioPorto A/S (CPH:BIOPOR) has issued 2,150,000 warrants to its US corporate management and certain key employees. Each warrant grants the holder the right to subscribe for one share in the company. The exercise price is fixed at DKK 2.72 per share (US$0.39) corresponding to the last 10 days of volume-weighted average price of BioPorto’s stock. The warrants will be exercisable from May 11, 2022 to May 10, 2025. The program includes conditions on claw-back in case of erroneous financial information and on accelerated vesting in case of a change in control. The theoretical market value of the allocations of warrants amounts to DKK 2,005,031 (US$290,736). After this grant of warrants, the total number of outstanding warrants will be 18,682,500.
Mawson Resources Limited (TSE:MAW) (OTCPINK:MWSNF) said Monday it had priced the offering, announced on May 7 last week, at C$17 million gross, which will be used to advance its exploration projects and for working capital. Each unit will be offered at C$0.35 each, comprised of one share and one-half of one warrant exercisable at C$0.45 for two years. Concurrent with, or shortly following closing, Mawson said it will carry out a private placement of up to 2.86 million units on the same terms as the offering, to raise up to C$1 million. This private placing may close after the offering and in one or more tranches, it said.
Tinka Resources Limited (CVE:TK) (OTCPINK:TKRFF) announced Monday that its employee in Peru who was diagnosed with the coronavirus (COVID-19) has recovered and is in good health. Peru has had a state of emergency in place since March 15th, which was recently extended until May 24. The country’s government has indicated that mining will be one of the first industries to restart once the lockdown is eased. Tinka’s employees have been in self-isolation since the beginning of the lockdown, and the company believes there are no other cases among them.
Great Bear Resources Ltd (CVE:GBR) (OTCQX:GTBDF) intersected the deepest and highest-grade interval to date on its flagship Dixie project, the firm reported Monday. The blockbuster hole, BR0085, intersected deep extensions of the Dixie Limb around 740 metres below surface and new Hinge zone-style veins around 840 metres below surface, which doubles the known depth of gold mineralization. The hole intersected the widest high-grade gold interval in the Dixie Limb zone to date, according to the Vancouver-based firm. Results included 10.2 grams per ton (g/t) gold over 19 metres, including 68.6 g/t over 2.7 metres, which itself included 133.5 g/t over 1 metre.
Ipsidy Inc (OTCQB:ITDY), a company operating an identity-as-a-service (IDaaS) platform of biometric identity solutions, reported growing revenue and a narrowing adjusted loss in the first quarter. The company posted revenue of $800,000 for the three-month period ended March 31, compared to $700,000 in the same period in 2019. Adjusted loss dropped to $1.3 million, $0.01 per share, from $1.6 million, $0.00 per share, over the same period. Due to the coronavirus, Ipsidy’s net loss was $2.3 million, $1.8 million of which was due to the impact of COVID-19 on its South African business.
Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) ended the first quarter of 2020 with nearly $71.2 million in cash to fund operations for the next three years, it reported Monday. The Bedminster, New Jersey-based biopharmaceutical company said it expects to resume trials on two of its flagship treatments in June 2020 after putting the studies on pause during the coronavirus pandemic. CEO Jerome Jabbour said the firm expects to resume both the ENHANCE-IT study of MAT9001 and the EnACT study of MAT2203 in June.
Marrone Bio Innovations Inc (NASDAQ:MBII) saw revenue jump by double-digits for its first three months of 2020 on strong demand for its biological products for crop protection and plant health. In a statement Monday, the California company said revenue increased 11% to a record $9.7 million as gross margins rose by a record 58%, marking the company’s sixth consecutive quarter of gross margins of 50% or more. Key sales for the quarter that ended March 31 included Venerate for foliar applications in the vegetable and stone fruit markets as well as the introduction of Stargus biofungicide in California. Sales of Regalia in almond and tree fruit crops continued to grow, as a result of its successful BioUnite program.
Agile Therapeutics Inc (NASDAQ:AGRX), which is preparing to commercialize its Twirla patch contraceptive, says CEO Al Altomari will participate in a virtual fireside chat as part of the 2020 RBC Capital Markets Global Healthcare Conference on May 20 at 8:35 am ET. The fireside chat will be webcast live and can be accessed in the events and presentations section of the Investor Relations page at https://ir.agiletherapeutics.com/events-and-presentations/, or by clicking: http://www.veracast.com/webcasts/rbc/healthcare2020/12201264543.cfm. The webcast will be archived on the Agile Therapeutics website for 90 days following the event.
Raffles Financial Group Limited (CSE:RICH) has announced a strategic partnership with Bank of Montreal’s private Asian bank to help the firm identify new clients. The Singapore-based firm said Monday that its subsidiary Raffles Financial Pte Ltd signed the agreement with Bank of Montreal Private Bank Asia (BMO PBA) to give clients a complete suite of investment and private banking solutions starting from public listing services to family trusts and portfolios. BMO PBA’s Hong Kong and Singapore branches provides ultra-high net worth individuals with investment advisory services, discretionary investment management and banking along with trust and family management solutions.
Thunderbird Entertainment Group Inc (CVE:TBRD) (OTC:THBRF) said Monday it “remains fully operational'' amid the coronavirus (COVID-19) pandemic. In a statement, the Vancouver-based company said its entire team of more than 1,000 crew members across all divisions having been set up to work remotely since March 30. Engineering work to move teams offsite started in February and was rolled out in March, with optimization taking place in early April. These moves allowed Thunderbird to continue delivering premium content, with all productions in development moving forwardZynerba Pharmaceuticals Inc (NASDAQ:ZYNE) shares surged in New York on Monday as the company outlined a raft of highlights in its first quarter to end March and said it had enough cash to sustain its operations into the second half. The specialty pharma company is developing novel transdermal CBD treatments for patients suffering rare epilepsies and neurological disorders. Looking ahead, the firm said: "Management believes that the cash runway is sufficient to fund operations and capital requirements beyond the expected NDA submission and potential approval of Zygel in FXS and into the second half of 2021."
Codebase Ventures Inc (CSE:CODE) (OTCQB:BKLLF), which owns a 49% stake in a company developing a transdermal hydroxychloroquine (HCQ) patch, told investors Monday that five of seven completed clinical trials of the drug have shown favorable outcomes for coronavirus patients, although more data is necessary. Hydroxychloroquine and chloroquine (CQ) have previous FDA approval for lupus, rheumatoid arthritis and malaria. It has been floated by some, including President Trump, as a potential treatment for the coronavirus (COVID-19). However, in its oral tablet form, side effects can include headache, dizziness, diarrhea, vomiting, blurred vision, and arrhythmia. That’s where the transdermal patch comes in. Delivering the drug through the skin regulates its dosage, improving patient compliance and outcomes, the company said.
Steppe Gold Ltd (TSE:STGO) revealed it has generated cash flow before stream obligations of US$8.5 million from gold and silver sales from its ATO mine in Mongolia, which remains on track to produce 60,000 ounces of gold this year. In an update on operations, the miner said it has now kicked off sales and has so far sold 5,233 ounces of gold and 1,372 ounces of silver in two deliveries to the Central Bank of Mongolia. It comes after the group announced on March 25 this year that it had begun gold production at the flagship mine.
Mota Ventures Corp (CSE:MOTA) (OTCPINK:PEMTF) (FSE:1WZ1) revealed Monday that its e-commerce-focused subsidiary Nature’s Exclusive, posted a record 39% jump in revenue in April to C$3,818,000, compared to the same month a year earlier. Mota said Nature’s Exclusive, which provides CBD products to consumers in the United States and Europe, had expenses of C$3,609,000, netting a gross profit of C$209,000 for the month of April. The Vancouver-based company's popular Natures Exclusive brand has a CBD hemp-oil derived from hemp grown in the United States. The extraction process is designed to keep all the beneficial qualities of hemp intact. Natures Exclusive offers a range of products, which include CBD oil drops, CBD gummies, CBD pain relief cream, CDB skin serum and CBD coffee.
Pure Gold Mining Inc (CVE:PGM) (LON:PUR) has told investors that the current gold price augurs well for the financials of its Madsen mine in Ontario, which is on track to start producing in the fourth quarter this year. The combination of the firmer gold price and a falling Canadian dollar is materially positive for the project, which will be Canada's next large scale producer, the group said Monday. In its 2019 feasibility study for the project, gold was put at US$1,275 an ounce, which, when factoring in the exchange rate, represents C$1,700 an ounce As of May 7 this year, with gold at C$2,400 per ounce, the mine would generate an additional C$679 million in revenue over the base case of the feasibility, Pure Gold said.
CanaFarma Hemp Products Corp (CSE:CNFA) has announced a private placement to raise up to C$28,300,000 (US$20 million). The company said the net proceeds will be used to fund the potential acquisition of manufacturing and extraction facilities, increase the acreage of its grow business, and for a scaling up of its sales and marketing activities. CanaFarma said the money also will go toward completing complementary or synergistic mergers or acquisitions, research and development, and general working capital and corporate purposes. Under the placement, units will be sold for C$0.63 apiece and each unit will consist of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share for C$0.78 apiece for five years from the date of the first closing under the offering.
Orgenesis Inc (NASDAQ:ORGS), a global biotech company focused on accelerating and transforming the delivery of cell and gene therapies, posted first-quarter results on Monday that saw its revenue soar 348% year-over-year driven by its Cell and Gene Therapy (CGT) Biotech platform. For its first quarter ended March 31, 2020, the Germantown, Maryland-based company, reported revenue of $1.9 million, compared to $0.4 million in the first quarter of 2019. Orgenesis achieved net income of $75.6 million, or $4.23 per share, reflecting the sale of subsidiary Masthercell Global Inc, a contract development manufacturing organization (CDMO).
RNC Minerals (TSX:RNX) has signed a sale and purchase agreement to acquire the Spargos Reward gold project in Western Australia. The company said the project contains a historical JORC1 2012 mineral resource estimate of 112,000 ounces (oz) of indicated resources and 19,000 oz of inferred resources. On closing, RNC will be required to pay A$4 million, satisfied at RNC's election in cash, RNC shares, or a combination of cash and shares. RNC also announced that it is proposing to change its name to Karora Resources Inc, which it said will “more accurately reflect its business focus as a growing, profitable gold producer in Western Australia”.
Nemaura Medical Inc (NASDAQ:NMRD), the company behind the non-invasive continuous glucose monitor (CGM) sugarBEAT, has reported positive initial user volunteer data from a head-to-head comparison against another major CGM device. The company said its sugarBEAT device presented comparable accuracy to an incumbent invasive CGM device, which requires users to prick their fingers. The aim of the tests is to position sugarBEAT as a cost-effective alternative to invasive CGM, in order to allow continuous glucose monitoring on whichever days patients choose. Such a step would ultimately reduce costs for both patients and insurers, the company said.
TRACON Pharmaceuticals (NASDAQ:TCON) said it has successfully completed a Type B pre-IND meeting with the US Food and Drug Administration (FDA). The clinical stage biopharmaceutical company said the FDA has agreed with its proposals regarding key elements of the pivotal ENVASARC trial for envafolimab in the soft tissue sarcoma subtypes of undifferentiated pleomorphic sarcoma and myxofibrosarcoma. As a result, TRACON expects to initiate enrollment in the ENVASARC trial in the second half of 2020. Envafolimab is an antibody being developed to treat sarcoma, uncommon cancers that can affect any part of the body including muscle, bone, tendons, blood vessels and fatty tissues.
Perma-Fix Environmental Services Inc (NASDAQ:PESI) announced Monday it has been awarded two federal contracts valued at $3.7 million to separate and treat radioactive materials from over 100,000 tons of soils, debris and dredged materials. In addition, the Atlanta-based provider of nuclear and waste-management services said it has completed the development of its new Perma-SortSM material sorting and segregation process.
Capstone Turbine Corporation (NASDAQ:CPST), the maker of clean-energy microturbines, announced Wednesday that it has received an order for the Walker’s Cay redevelopment project, in the northernmost island of the Bahamas. The company said the order is for two-megawatt scale C1000 Signature Series (C1000S) microturbine energy systems for Walker’s Cay Resort, located 53 miles northeast of Grand Bahama, in the northernmost island in the Bahamas. Nearly destroyed by consecutive hurricanes and abandoned for several years, Walker’s Cay, has begun construction on a redevelopment project to restore the northernmost cay to its former glory. Purchased by Texas businessman and philanthropist Carl Allen and his wife Gigi, the 100-acre island resort will include extensive renovations to existing structures and phased construction of over 100,000-square-feet of new buildings that include a newly configured marina basin with mega-yacht slips, villas, restaurants, chapel, bonefish lodge, spa and fitness center, along with many other amenities.
Japan Gold Corp (CVE:JG) (OTCQB:JGLDF) said it has been pleased with the response to its equity offering, which it has upsized by up to C$2.5 million in a second tranche, having now closed the first tranche. The group said it issued over 14.3 million units at C$0.25 each, worth C$3.5 million in the first tranche. This included a lead order of C$250,000 and the conversion of a C$1 million loan into units of a placing by Southern Arc Minerals Inc, which is a large shareholder of Japan Gold. "Based upon the strong demand for this equity offering, the company has increased the size of the financing by up to C$2.5 million with the second closing anticipated to occur within the next 30 days," said Japan Gold. The proceeds will be used mainly for exploration activities and for general working capital, it added.
Media Central Corporation Inc (CSE:FLYY) has put the pieces in place to see its publishing strategy pay off in 2020. The Toronto-based company owns a range of titles including the venerable Toronto publication NOW Magazine and West Coast stalwart The Georgia Straight, both of which were acquired only a few months ago. In a statement accompanying the publisher’s 2019 results, Media Central’s CEO Brian Kalish said that the firm is continuing to evaluate potential acquisitions that fit within its strategy to grow into a strong Canadian publisher. Media Central reported gross revenue of $166,000 and a net loss of $7.1 million or $0.02 per share for the year ended December 31, 2019.
Gold Resource Corporation (NYSEAMERICAN:GORO) has reported further decent exploration results from its Scarlet target in Nevada, which will potentially provide feed for its nearby Isabella Pearl operating mine. The firm reported assays from a phase two drill program, which was focused mainly on the southeast portion of Scarlet, which lies just 400 metres from Isabella Pearl. Near surface gold intercepts included 12.19 meters grading 1.43 grams per tonne (g/t) gold, including 3.05 meters grading 4.02 g/t gold.
GlobeX Data Ltd (CSE:SWIS) (OTCMKTS:SWISF) is debuting a new partnership with an American technology television program in a boost to its US presence. The cybersecurity firm is partnering with “TECH Zone with Paul Amadeus Lane,” a technology-focused program that appears on ABC News Radio affiliate KMET-AM in the US. GlobeX is offering TECH Zone viewers and listeners promotional pricing for its DigitalSafe platform starting in June 2020.
Chemesis International Inc (CSE:CSI) (OTCMKTS:CADMF) said its subsidiary Natural Ventures PR LLC has entered into an option agreement to acquire 100% of the issued and outstanding interest of GSRX Industries Inc subsidiary Project 1493 LLC, which holds all of GSRX's Puerto Rican dispensaries. GSRX Industries (OCTQB:GSRX) is a majority-owned subsidiary of Chemesis International. In connection with the option agreement, the company has paid US$25,000 to GSRX as part of an initial cash payment and has waived the 36-month leak-out in respect of the 729,187 common shares of Chemesis currently held by GSRX. Chemesis said the right of Natural Ventures to exercise the option is conditional upon it issuing to GSRX 5.19 million Chemesis common shares within 10 months, subject to a 36-month leak-out schedule, and paying US$2,475,000 to GSRX within 15 months.
CytoDyn Inc (OTCQB:CYDY) has announced plans to submit additional clinical datasets to the US Food and Drug Administration (FDA) related to its drug leronlimab as a combination therapy with HAART for HIV patients. The company filed a Biologics License Application (BLA) to the FDA on April 27, but the agency determined that the process would not be complete without additional datasets to address feedback the company from the regulator received in March. Once the BLA submission is deemed complete, the FDA will make a decision on the drug’s filing and set a deadline date for drug review.
O3 Mining Inc (CVE:OIII), the Canada-focused mining asset consolidator, has sold its non-core Hemlo exploration properties in Ontario to junior Canadian Orebodies Inc (CVE:CORE) in an all-paper deal which it said will see the firm hold a 15.4% stake in Orebodies. "We are pleased to announce that we are continuing to maximize value for our shareholders by finding strategic partners for our non-core exploration assets," O3's chief executive CEO Jose Vizquerra said in a statement. Before the Hemlo deal, O3 Mining beneficially owned or controlled over 7.66 million Orebodies shares, representing approximately 12% of its share capital.
Champignon Brands Inc (CSE:SHRM) (OTCQB:SHRMF) has announced the appointment of Roger McIntyre as its new chief executive. McIntyre is professor of psychiatry and pharmacology at the University of Toronto and head of the Mood Disorders Psychopharmacology Unit at the University Health Network, Toronto, Canada. He is also executive director of the Brain and Cognition Discovery Foundation in Toronto; director and chair of the Scientific Advisory Board of the Depression and Bipolar Support Alliance in Chicago; professor and Nanshan scholar at Guangzhou Medical University; and adjunct professor at the College of Medicine at Korea University.
Exactus Inc (OTCQB:EXDI) said it has promoted its chief growth officer (CGO) Derek Du Chesne to the position of president and appointed him to its board of directors. During his tenure as CGO at the hemp-derived ingredients firm, Du Chesne implemented internal infrastructure systems designed to scale up the business while developing additional income streams. The company added that Du Chesne is a brand management professional with a proven track record of creating integrated marketing strategy platforms, through concept, development, and launch, as well as building iconic brands by orchestrating successful campaign deployment on both a global and regional scale.
Phunware, Inc. (NASDAQ:PHUN), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced that it will release first quarter 2020 financial results after the stock market close on Friday, May 15, 2020. Phunware said it will also provide an earnings press release and a pre-recorded transcript that will be available on the company’s Investor Relations website at investors.phunware.com.
Canntab Therapeutics Limited (CSE:PILL.CN) (OTCQB:CTABF), the leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic applications, has announced that Larry Latowsky, its special advisor and future executive chairman (pending Health Canada approval), will present via webcast at the Canaccord Genuity 4th Annual Cannabis Conference, on Tuesday, May 12, 2020, at 9.20am EST. It said Latowsky's presentation is expected to discuss, among other things, the Company's top priorities, and strategic plans for the future. He commented: "Many companies solicited my support and directorships, but I joined Canntab half a year ago because of my belief in Canntab's business model and its distinctive product offerings. Canntab's medical cannabis solutions, which will be critical to the adoption of cannabinoids by the medical community, place Canntab in a unique position to execute on significant opportunities that will generate sustainable value for all stakeholders." Latowsky brings decades of experience in the manufacturing, wholesale and distribution of pharmaceutical and nutraceutical products, having previously served as the President and CEO of Drug Trading Co., and Katz Group Canada, the parent company of, among others, Rexall Pharmaplus. A webcast of the presentation will be available at: http://wsw.com/webcast/canaccord39/ctabf/
OTC Markets Group Inc. (OTCQX:OTCM), operator of financial markets for 10,000 U.S. and global securities, announced that Rise Gold Corp. (CSE:RISE) (OTCQX:RYES), an exploration stage mining company, has qualified to trade on the OTCQX Best Market, and has upgraded from the OTCQB Venture Market. The OTCQX Market provides investors with a premium US public market to research and trade the shares of investor-focused companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
Virtual Investor Conferences, the leading proprietary investor conference series, has announced that the OTC Markets Markets Group Inc. (OTCQX:OTCM) Metals & Mining Virtual lnvestor Conference presentations are now available for on-demand viewing at: https://tinyurl.com/May2020Metals-MiningVIC. The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the "virtual trade booth" for the next three weeks. Participating companies included: Endeavour Mining Corp. (OTCQX:EDVMF) (TSX:EDV), Aurania Resources, Ltd. (OTCQB:AUIAF) (CVE:ARU), and Royal Nickel Corp. (OTCQX:RNKLF) (TSX:RNX).