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Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) Expects To Post Topline Results From Phase 3 Clinical Clinical Of Lenabasum Soon: Reports Revenues Of $700,000 In Q4 2020

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Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) reported revenues of $700,000 (down 73% YoY) in Q4 2020 from licenses and awards. Its revenues for 2020 are declined by 89.1% to $3.9 million.

CEO of Corbus, Yuval Cohen, said the company progresses its development of internal compounds and expanding its pipeline. The company expects to report topline results of its DETERMINE Phase 3 clinical trial of lenabasum in dermatomyositis in Q2 2021.

Cohen further said its CB2 agonist program, which focuses on oncology, and CB1 inverse agonist program, which concentrates on metabolic diseases, are pre-clinically progressing. The company expects to commence clinical trials for these programs in 2022.

CB1 (cannabinoid receptor type 1) inverse agonist program is designed to cure metabolic disorders like diabetic retinopathy, diabetic nephropathy, obesity, and nonalcoholic steatohepatitis. CB2 (cannabinoid receptor type 2) agonist program is designed to treat cancer.

Cash balance of $127 million

Corbus maintains a cash balance of $127 million, sufficient to fund its programs through Q1 2024.

Clinical update

Phase 3 DETERMINE clinical trial of lenabasum

The phase 2 clinical trial of lenabasum, which is an oral, innovative, and CB2 agonist, is conducted in adult patients suffering from dermatomyositis worldwide to find its safety and efficacy. Around 176 patients are participated in the clinical trial and expect to complete week 28 in March 2021. It will report an improvement score as a primary efficacy endpoint comparing the placebo and 20 mg lenabasum daily twice at week 28.

The life-threatening and rare autoimmune disease dermatomyositis is characterized by muscle and skin inflammation. Around 80,000 people in Japan, the EU, and North America are affected by dermatomyositis.

Lenabasum to cure Systemic Lupus Erythematosus

Corbus will conduct Phase 2b clinical trial of lenabasum involving 100 patients at 15 sites in Q2 2021 to find its efficacy and safety in adult patients with SLE (systemic lupus erythematosus). The company will report topline results of the Phase 2b clinical trial in H2 2021.

Corbus engages in the commercialization and development of innovative medicines that target the endocannabinoid system. Its lead candidate, CB2 against, is a substitute for immunosuppressive medications to cure fibrotic diseases and chronic inflammatory diseases. The company is evaluating lenabasum in systemic lupus erythematosus and dermatomyositis.

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BUSINESS

Lexaria Bioscience Corp (NASDAQ: LEXX) Announces Expansion Of Its Intellectual Property Portfolio

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Lexaria Bioscience Corp (NASDAQ: LEXX) announced an expansion of its intellectual property portfolio. The news comes after the global innovator in drug delivery platforms was granted its debut patent in Japan.

According to sources, this is the 20th patent granted to the company. With the patent titled “Stable ready-to-drink beverage compositions comprising lipophilic active agents, Lexaria Bioscience Corp is granted patent protection in Japan.

CEO comments on the 20th patent granted to the company

“With our 20th patent granted worldwide, Lexaria continues to demonstrate the versatility of our DehydraTECH drug delivery platform, encouraging innovation in the consumable liquid category around the world,” said Chris Bunka, CEO of Lexaria. “This new patent adds to our existing suite of granted patents spanning the EU, the U.S., India and Australia, and continues to build value for Lexaria shareholders and clients.”

Information about the patent

From the third patent family, this is the third patent granted. As many as 13 patent families have made it to Lexaria’s patent application suite. According to sources, non-psychoactive cannabinoids and NSAIDS are the active ingredients permitted for use under the new patent.

Patent applications progressing at a global level

According to reports, Lexaria Bioscience Corp currently has ongoing patent applications in countries across the globe. News about developments and progress about the patent status will be made available by the company as information becomes available.

DehydraTECH™ is a drug delivery technology that is reportedly used to enhance active pharmaceutical ingredients (APIs) enter the bloodstream. Formulated by Lexaria Bioscience Corp, it enhances the effectiveness of fat-soluble active molecules by reducing the overall dosing. The technology that the company develops can be used in a range of ingestible product formats like foods, beverages, oral suspensions, tablets, and capsules.

According to reports, the introduction of DehydraTECH, with cannabinoids and nicotine, has increased bio-absorption is by up to 5-10x. Additionally, this has also brought down the time of onset from 1-2 hours to minutes.

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *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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OrganiGram Holdings Inc (NASDAQ: OGI) Reports Gross Revenue Of $29.1 Million For 3Q 2021

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OrganiGram Holdings Inc (NASDAQ: OGI) recently declared its third-quarter earnings. The company reported gross revenue of $29.1 million for the third quarter of 2021. The corporate house recorded an increase in earnings 39% sequentially to $20.3 million in Q3 this year, from Q2 2021, and 13% from the same prior-year period. The company is a leading licensed producer of cannabis.

Chief Strategy Officer comments on the growth in revenue

“We are pleased with the growth in revenue in Q3 as we were better staffed to fulfill the demand for our revitalized product portfolio, which continues to resonate well with consumers,” said Paolo De Luca, Chief Strategy Officer. “The ongoing investment in our genetics and cultivation program has yielded some exciting new dried flower products with more genetics and derivative product launches planned for the near term. Sales are trending higher to date in Q4 supported by a strong outlook for the industry as the number of cannabis retail stores continues to grow and existing stores are permitted to re-open their doors to customers.”

A plethora of new products launched this year

This year, various products were launched. Starting with March 2021, OrganiGram Holdings Inc introduced its Edison Black Cherry Punch, I.C.C.and Slurricane strains. They were introduced in a package of three half-gram pre-rolls.

In the following month in the same year, GMO Cookies and MAC-1, which are high potency Edison dried flower strains, were introduced by the company. The products contain 20-26% THC range and are available in the market in 3.5g format. They can also be purchased as packages of three half-gram pre-rolls.

Another product was made available in the market in March this year. As part of the Indi portfolio, Skyway Kush, the debut strain which offers a 20% to 23% THC range, was introduced. In June 2021, in 3.5g formats, two Indi dried flower strains were made available at quarter-end. While Biscotti Gelato has a THC range of 20-26%, Gelato #33 has a THC range of 17-23%.

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Neptune Wellness Solutions Inc (NASDAQ: NEPT) Reported Net Loss of $60.3 Million In Fourth Quarter 2021

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Neptune Wellness Solutions Inc (NASDAQ: NEPT) a fully integrated wellness company, reported the financial performance for the fourth quarter of 2021 and the year ended 2021. During the fourth quarter, the company reported a loss of $60.3 million, which was higher than the corresponding period last year.

In Red for the second consecutive year: 2021 was the challenging year for the company and industry due to pandemic and transformation activities undertaken by the company. The company reported revenue of $6.8 million for the fourth quarter, and the year ended 2021, the revenue stood at $46.8 million, a 56% growth compared to the revenue in 2020. However, due to pandemic and transformation activities, the cost increased year on year. As a result, the company reported a loss of $24.8 million during the quarter, and for the whole year, the gross loss stood at $36.2 million.

Given the increase in cost, the adjusted EBITDA came in at a negative $24.7 million in the fourth quarter, and for the entire year, it was negative $52.7 million. Loss ad adjusted EBITDA level coupled with an increase in depreciation and interest outgo, the company reported a loss in Q4 2021 and for 2021. The loss at the end of the year stood at $52.7 million. During the quarter, the company raised $55 million by placing the equity with investors.

Guidance:  The company indicated the guidance for the revenue in the range of $10 to $12 million, and the company is well place to achieve top-line growth. Management further indicated, given the cost initiatives taken by Neptune Wellness in the last year, the benefit of the same is expected to come in 2022. In addition, Neptune will continue to drive the growth in its organic brand through innovation and extensive distribution of its products. Further, the company is also looking at acquisitions (acquired majority stake in Sprout Food, baby food brand in the U.S. in Q4 2021), which will drive the earnings immediately. Both these factors should result in higher margins in the medium to long term and ultimately enhanced value for its shareholders.

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *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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