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Akerna Corp (NASDAQ: KERN) Announces 63% YoY Revenue Growth In Q2 2021

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Akerna Corp (NASDAQ: KERN) has announced its unaudited Q2 2021 financial results, with total revenue of 63% YoY. 

Akerna reported 56% YoY growth in software revenue 

The company reported total revenue of $4.9 million, with software revenue up 56% YoY to $4.5 million. Gross profit during the quarter was up 153% YoY to $3 million.  Net loss was flat YoY at $6.1 million, and Akerna reported a negative adjusted EBITDA of $1.6 million, which was a 54% YoY improvement from the $3.6 million reported a year ago. The company ended the quarter with $11.8 million in cash relative to $15.4 million at the end of March 31, 2021. 

Akerna CEO Jessica Billingsley said, “Our second quarter results continued the momentum in 2021, with revenue growth of 63% year over year driven by a mix of organic and inorganic software revenue and a rebound in consulting demand.  As consolidation within the industry continues and emerging markets begin to open, we believe our industry leadership position with multi-state, international and emerging enterprises paves the way for Akerna to be one of the largest cannabis technology winners in the years ahead.”

In Q2 2021 total SaaS ARR was $17.3 million, which is 53% YoY. Average new B2B orders were 27% YoY, while B2B transaction volume was up 104% YoY. The company reported new bookings  ARR of around $900,000. 

Akerna secured a government cannabis contract 

Equally, during the quarter, the company secured the first national government cannabis contract in the world with St. Vincent and the Grenadines. Akerna also closed the Viridian acquisition, finalized MJ retail beta adoption, and added Cannabis and Pharmaceutical Industry expert Barry Fishman to the Board of Directors. 

Akerna is a tech ecosystem for cannabis and offers scalable cannabis ERP solutions that provided taxation, compliance, seed-to-sale, payments, track-and-trace, data, and consulting to governments, brands, and operators through its software family, including Viridian Sciences, Trellis, MJ Platform, Ample Organic, solo sciences, and Last Call Analytics. 

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

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Pyxis Tankers Inc. (NASDAQ: PXS) Sells Two Small Tankers for $8.9M and Takes Delivery of Pyxis Lamda

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Pyxis Tankers Inc. (NASDAQ: PXS) has announced an agreement to sell two small tankers, Northsea Beta and Northsea Alpha. The product tanker firm will sell the two 2010 constructed 8,600 dwt product tankers for a cash consideration of around $8.6 million. Pyxis has a modern fleet of seven tankers dealing with refined petroleum products and bulk liquids transportation.

Pyxis expects net proceeds of $2.8 million. 

The sale of the vessel is expected to be completed between late January and towards the end of February 2022, pursuant to standard closing conditions. Following the discharge of the outstanding loans securing these boats and the settlement of other transaction expenses, Pyxis Tanker anticipates earning net cash proceeds of $2.8 million, which will be put into working capital. As a result, the company forecasts a $2 million non-cash loss from asset sales for the fiscal period ending December 31, 2021.

Valentines Valentis, Chairman and CEO of Pyxis Tankers, commented, “The sale of these non–core assets underscores our strategic focus on the eco–MR product tanker sector, reduces outstanding debt and improves balance sheet liquidity. Moving forward, we will have a fleet of five MRs with an average age of 8.3 years. Upon completion of the dispositions, our total debt should be approximately $77.35 million at a weighted average interest rate of less than 4% per annum with the next bank loan maturity scheduled in 3.5 years.”

Pyxis acquired Pyxis Lamda for $32 million 

Recently the company disclosed that according to a previously announced transaction, it has taken delivery of Pyxis Lamda. Pyxis Lamda is a 2017 built 50,596 dwt mid-sized product tanker that was acquired from an entity with links to the company’s CEO and Chairman for $32 million. 

Valentis commented, “We are pleased to announce the successful delivery of the Pyxis Lamda, which increases our fleet to a total of seven vessels, including five modern eco- MR2’s. The addition of this young vessel to our fleet positions the Company to take advantage of an anticipated improving chartering environment within the product tanker sector.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) Offers Program Updates On Evaluation Of Zygel In ASD, 22q. DEE And FXS

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Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) has given program updates for autism spectrum disorder(ASD), Fragile X syndrome (FXS), developmental and epileptic encephalopathies (DEE), and 22q11.2 deletion syndrome (22q).

Zynerba hits various milestones in Zygel development 

Armando Anido, the CEO and Chairman of Zynerba stated, “Committing to a Phase 3 development program for patients with autism spectrum disorder is a key step in the advancement of a new treatment option for patients who have high unmet medical needs and limited FDA approved treatment options. Data from our ASD clinical development program to date are compelling and, with a clear regulatory path toward potential approval, we are excited to move forward with this program.”

 “In addition, we are making good progress towards completing enrollment in the INSPIRE trial for patients with 22q11.2 deletion syndrome and expect to have topline results mid-year 2022. Putting resources behind a second indication beyond FXS and completing the INSPIRE trial is consistent with our mission of being a leader in rare and near-rare neuropsychiatric disorders,” concluded Anido

Zynerba evaluating Zygel in various indication s

Regarding the ASD program, the company plans to commence two phases three trials in 2H 2022 to evaluate Zygel in ASD. Zynerba is finalizing the third phase study protocol and will submit an IND to start the pivotal program. Also, the company is evaluating Zygel in FXS, and it expects topline RECONNECT results in 2H 2023. The EMA gave the company written scientific advice offering clarity and guidance on regulatory and clinical requirements to submit an MAA for Zygel in the treatment of behavioral symptoms related to FXS in the EU. 

Zynerba is planning to screen and enroll subjects in a 14-week open-label second phase INSPIRE study evaluating Zygel in 22q and anticipates topline results by mid this year. In addition, in Q4 2021, the company commenced more clinical sites in the US to finalize enrollment. 

Lastly, in the DEE program, the company has received FDA feedback showing that picking a specific DEE syndrome is necessary for a pediatric epilepsy indication instead of evaluating improvements in seizures in all DEEs.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Amyris Inc. (NASDAQ: AMRS) And ImmunityBio (NASDAQ: IBRX) Close Joint Ventures Agreement To Accelerate Next-Gen COVID-19 Vaccine Development

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Amyris Inc. (NASDAQ: AMRS) and ImmunityBio (NASDAQ: IBRX) have announced the closing of a previously announced JV agreement to expedite the commercialization of a flagship next-gen COVID-19 vaccine. 

JV combines Amyris and ImmunoBio’s vaccine capabilities 

The joint venture brings together critical vaccine technologies and production capabilities from Amyris and ImmunityBio. The goal joint venture is to commence delivery of the second-gen vaccine in 2022 as soon as practical after successful human clinical studies and regulatory authorization, with the intent of giving COVID-19 immunity and availability to underserved regions of the globe where present vaccine innovation is challenged because supply chain and cost limitations.

ImmunityBio Executive Chairman and Globa Chief Scientific and Medical Officer Patrick Soon-Shiong said, “We are pleased to combine our expertise in human trials, T-Cell technology, and our access to RNA manufacturing capacity with the Amyris and Infectious Disease Research Institute (IDRI) RNA technology platform and Amyris’ adjuvant technology. Combined, we have a real opportunity to provide true immunity against COVID-19 variants along with a platform that can quickly adapt to a future potential respiratory virus.”

Amyris to combine its RNA tech with ImmunityBio’s expertise 

Amris, the CEO and President, John Melo, said, “Combining our RNA technology with ImmunityBio’s expertise and access has the potential to significantly accelerate and de-risk our time to market for a much-needed second-generation COVID-19 vaccine. We are very pleased with the progress our teams have made in the short time we’ve been working together and remain focused on completing successful human trials as quickly as possible.”

IDRI CEO Corey Casper commented, “Two years into the COVID-19 pandemic, it has become abundantly clear that next-generation vaccines will be required to put the pandemic behind us. Vaccines that are accessible to every person across the globe, broad in their protection against current and future variants of concern, and invoke durable protective immunity are now within our reach. The ability to ‘mix and match’ vaccine platforms through this new joint venture and ImmunityBio’s multiple COVID vaccine platforms represents one of the most exciting approaches to ending COVID-19.”

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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