Corbus Pharmaceuticals Holdings, Inc (NASDAQ: CRBP) has put in so much investment In its purpose of improving people’s lives. The company develops new medicines, which target immuno-oncology, metabolism, fibrosis, and inflammation. The Massachusetts headquartered entity has released its Q2 2021 financial results, which showcase a net loss of approximately $17.1 million. And while Q2 2020 recorded roughly $286,000 in revenue from awards and licenses, Q2 2021 recorded $137,000.
However, according to the company’s CEO, Yuval Cohen, they had a strong position in cash and investment at the hand of approximately $114M. The company would use this to advance its diversified portfolio. In addition, the recent licensing of two integrin-targeting mAbs is already making significant progress concerning expansion.
DETERMINE Phase 3 Study of Lenabasum Produces Topline Results
In other news, a Phase 3 DETERMINE study of lenabasum in adults with autoimmune disease dermatomyositis did not meet its primary endpoint of Total Improvement Score (TIS) at Week 28. However, the Chief Medical Officer, Barbara White, says despite the discouraging results, the management was encouraged by the fact that they matched to the subtype of dermatomyositis in the study.
Enrolled subjects would have to demonstrate classic dermatomyositis with muscle weakness. Also, they had to have skin involvement or dermatomyositis with no significant muscle weakness but with skin involvement.
Dermatomyositis reportedly affects approximately 80,000 people in North America, the EU, and Japan. The sometimes life-threatening autoimmune disease is chronic, rare, clinically heterogeneous, and inflammatory. Distinctive skin rashes alongside proximal muscle weakness, pulmonary, cardiac, gastrointestinal, and joint involvements are primary signs and symptoms.
Unfortunately, there is a significant unmet need for the proper treatment for dermatomyositis disease. The present-day treatment is the systemic glucocorticoids approved by the FDA. And there is also the off-label use of glucocorticoid-sparing immunosuppressive. On the other hand, lenabasum provides an alternative to immunosuppressive treatments for inflammatory or fibrotic diseases. The novel, oral, small-molecule activates the cannabinoid receptor type 2 (CB2) to resolve inflammation.
Innovative Industrial Properties Inc (NYSE: IIPR) Broadens its Real Estate Partnership Agreement with Harvest
Innovative Industrial Properties Inc (NYSE: IIPR), which isn’t just the first but also the only real estate corporation on the NYSE (New York Stock Exchange, focuses on the regulation of the United States cannabis industry. The company recently announced that it had acquired a certain property in Maryland. Innovative Properties also announced that it had executed a long-term lease agreement with one of Harvest Health’s subsidiaries.
The company acquired the product for roughly $16.6 million. The Harvest subsidiary is expected to conduct additional tenant improvements on the property to be deemed a regulated cannabis processing and cultivation facility. Innovative Properties has agreed to reimburse Harvest up to around $12.9 million for this particular project. Innovative Properties will be putting in a total investment of roughly $29.5 million when you add the tenant improvement reimbursement. Innovative properties also acquired another property in Florida earlier this year.
Innovative Properties’ Chief Executive Officer and President, Paul Smithers, said they were delighted to be expanding their Harvest long-term real estate partnership further. He claimed that Harvest has continued to execute on its business plan very well so far, and has a huge vertical footprint in some of the United States’ strongest, most robust cannabis markets. He claimed that they’re looking forward to collaborating closely with Harvest as they expand their production efforts further in Maryland so that they can meet the ever-growing demand in the region.
The medical-use cannabis program in Maryland was implemented about three years ago in 2017. In the initial implementation stage, It had limited licenses to dispense, process and cultivate cannabis. Medical conditions that qualify for the program include chronic pain, anorexia, seizures, PTSD, severe nausea and persistent o severe muscle spasms. Just like in other states in the US, the regulatory authorities in this state have broadened the program over time. They now allow doctors and their assistants to recommend medical marijuana use if they think it’ll help with treatments.
Neutra Corp (OTCMKTS: NTRR) Continues to Secure Distribution for VIVIS’ CBD-based Products
Neutra Corp (OTCMKTS: NTRR) continues to make great progress when it comes to securing distribution solutions for its VIVIS’ CBD-based products. Since the company announced what it was planning in January, Neutra’s management team has managed to ensure VIVIS products are on shelves in Festival Foods, a gigantic 35 store supermarket chain in the region.
The company is also delighted to collaborate with another west coast retail chain for its distribution purposes. The retail chain’s name and specifics about the agreement will be announced later when the product is on the shelves. The national sales team at VIVIS is still in several different discussions involving distribution with many other regional and nationwide retail chains.
Other distribution projects
The management team at Neutra is also discussing with distributors who are outside online and traditional brick-and-mortar sales channels. These other parties typically have international exposure and household name recognition. Specifics of the deals will be announced later because of obvious competitive reasons. However, management says that they believe in the potential of this strategy and are very optimistic it will bear fruit.
Lastly, the management team has also communicated with a specific clinical research organization that could be up for sale soon. This would help give Neutra another revenue stream and also allow them to do clinical research backing of their products in-house. The team has found significant and cleared synergies between both businesses.
The company’s Chief Executive Officer, Sydney Jim, said they continue to witness an increased demand for CBD-based VIVIS products across the country. In addition, he claimed that the traction of the company’s sales team has also increased since it started engaging different distributors earlier this year. Mr. Jim said that they hope to announce good news soon as well as bring value to their shareholders.
VIVIS’s holding company, Neutra Corp, is an initial-stage R&D company that focuses on bringing healthy, modern living options to this particular market. Cutting-edge tech food and drug, environmental purification, and nutraceuticals sectors are helping give rise to a new global culture where consumers want healthier products.
Village Farms International Inc (NASDAQ: VFF) Announces its Q2 2021 Financial Results Demonstrating a 38% Net Sales Growth, Thanks to Pure Sunfarms
When the World Health Organization declared COVID 19 virus a global pandemic, hundreds of businesses and markets worldwide fell apart. A majority of them enacted temporary closures. Others reduced operations, which meant relieving off some employees their duties. Finally, however, things have begun to show up if some businesses’ Q2 2021 Financial results are anything to go by. Take, for example, Village Farms International Inc (NASDAQ: VFF)
The large-scale and high-value supplier of high-growth plant-based Consumer Packaged Goods has gone public with its Q2 2021 financial results. And for record purposes, the company attained a total net sales growth of 38% sequentially. This was in addition to a 192% sequential increase in adjusted EBITDA. Thanks to its Canada-based subsidiary, Pure Sunfarms.
The continued momentum has placed Pure Farms in a position of becoming a long-term market leader in the Canadian cannabis market. Its strength is in Retail Branded Sales and according to Michael DeGiglio, CEO, Village Farms, “…our continued market share, leadership and growth, including our first-ever quarter as the top-selling* Licensed Producer in Ontario, gives us even more confidence that we will achieve our stated goal of 20% market share….”
The Acquisition of Balanced Health Botanicals by Village Farms
The Canadian legal cannabis market is snowballing. Additionally, Senate leadership’s recently introduced cannabis bill in the US is a crucial identifier of progress in regulatory change. As a result, Village Farms has swung into identifying potential pathways to expand its footprint.
Its acquisition of a 100% interest in Colorado-based CBD-platform Balanced Health Botanicals is possible one of them. The company develops CBD-based health and wellness products and has established a diversified portfolio, including edible, topical, and ingestible applications. The acquisition comes with immediate access to the US retail CBD market, an experienced team and product categories, and an opportunity for Village Farms to add significant expertise to Balanced Health’s supply chain.
Since 2016, Balanced Health Botanicals has built a leading brand and is hugely proud of impacting the lives of its consumers.