Connect with us

BUSINESS

Gibraltar Industries Inc (NASDAQ:ROCK) Reports Revenues Of $258.1 Million In Q4 2019

Published

on

Gibraltar Industries Inc (NASDAQ:ROCK) has reported revenues of $258.1 million in Q4 2019. It is an increase of 7% when compared to the same period last year. Bill Bosway, Chief Executive Officer and President of Gibraltar said the company posted solid growth in Q4 2019, continuing the same momentum from Q3 2019. The key contributors to the growth in Q4 include renewable energy and conservation and growing demand for its turnkey solutions.

Revenues from renewable energy and conservation have surged by 26.4%, which includes 5% from the takeover of Apeks Supercritical and 21.4% from organic growth. However, revenues from residential products declined marginally when compared with the same period last year. Owing to lower demand for the core industrial products and market pricing, the revenues from Industrial & Infrastructure Products dropped marginally.

The stock of Gibraltar trades higher by 4% on February 28, 2020, on posting better than expected revenues in Q4 2019. Its backlog improved by 35% year-on-year to reach $218 million.

Developments after Q4

Gibraltar strengthened its leadership role in commercial green solutions in North America by taking over Thermo Energy Systems. It is also engaged in developing a processing solutions platform. The growing backlog, operating momentum, a strong presence in the solid end markets, and portfolio optimization expects to drive the growth in 2020.

Growth strategy

Bosway said the company has thoroughly evaluated the market in the past 12 months where it currently operates. It helped to solidify the growth strategy, and plans are in place to improve the margins of Gibraltar by investing in inorganic and organic channels. The company strengthened its portfolio through acquiring Delta Separations, Thermo Energy Systems, and Apeks Supercritical. The takeover of commercial greenhouse provider – Thermo Energy Systems, which is based in Canada, helps the company to penetrate the organic food market.

Thermo Energy is engaged in the supply and installation of irrigation systems, greenhouse heating/ cooling systems, greenhouse carts, and hot water storage tanks. Gibraltar focuses on three core tenets that comprise organization development, portfolio management, and business systems.

Guidance for 2020

Gibraltar expects to post revenues of up to $1,230 million in 2020. Going forward, the company’s growth initiatives and development will augur well for its revenues.

Continue Reading
Advertisement

BUSINESS

Cure Pharmaceutical Holding Corp (OTCMKTS:CURR) Receives A Chinese Patent To Load High Amounts Of Active Drug On Oral Thin Film To Cure ED In China

Published

on

Cure Pharmaceutical Holding Corp (OTCMKTS:CURR) is pleased to announce the receipt of a Chinese Patent No. ZL201480039313.6. The new patent allows the company to load a high amount of active drug on a soluble thin film using its drug delivery system to cure erectile dysfunction in China.

Demand for erectile dysfunction treatment

Cure Pharmaceutical shall deliver Viagra through oral administration using its CUREfilm Blue to treat ED in China. The demand for erectile dysfunction treatment expects to reach $6.5 billion by the year 2025. Chief Executive Officer of Cure Pharmaceutical, Rob Davidson, said the receipt of vital Chinese patent helps its global commercialization efforts for CUREFilm Blue and other drugs that will be delivered using this technology. Cure Pharmaceutical targets CUREFilm Blue at Asian markets, mainly China, where high demand for ED exists.

According to QY Research, Asia Pacific is one of the fastest-growing markets for the medicine to treat ED. Viagra accounts for half of global sales. The Chinese patent covers innovative methods of preparing edible thin films, which helps to deliver higher dosages of active ingredients. Cure Pharmaceuticals could differentiate its thin-film products from other oral soluble films that deliver sildenafil.

Signs a collaboration accord with Vanguard Scientific

Cure Pharmaceutical has signed a collaboration and license agreement with Vanguard Scientific Systems Inc. With this licensing agreement, Vanguard can get access to the Cure Pharmaceutical’s cannabis extraction methods. It improves the confidence to customers in using Vanguard’s extraction manufacturers.

Davidson said the agreement provides operational freedom to Vanguard, which is a leading player in the supercritical fluid extraction methods, to maintain pharma-grade standards using the licensing strategy of Cure Pharmaceutical. It will collaborate with Vanguard for expanding the patent to cover the latest advances in the field.

Vanguard could make use of the Cure Pharmaceutical’s issued and pending process as well as composition patents to separate cannabinoids with the help of supercritical fluid extraction technology. The isolation of cannabinoids is established using the solvent – Carbon dioxide.

The patent allows the insertion of cannabis extracts in various dosage forms. However, Cure Pharmaceutical reserves the right to apply these techniques in an oral film. Chief Executive Officer of Vanguard, Matthew Anderson, said his customers will enjoy peace of mind when choosing extraction solutions of Vanguard.

Continue Reading

BUSINESS

Novus Acquisiti (OTCMKTS:NDEV) Reports Revenues Of $57,862 In Q4 2019

Published

on

Novus Acquisiti (OTCMKTS:NDEV) has reported robust revenues of $57,862 in Q4 2019. It is an increase of 17.2% when compared to the same period last year. The company has posted revenues of $219,240 in 2019. It represents an increase of 22% when compared to the previous year.

Improves In-network providers

Chief Executive Officer of Novus, Frank Labrozzi, said the company demonstrated continued growth in 2019 and expects to continue the same momentum in 2020. It sees an increase in the commercialization of the Cannabis Health Plan and expects to record phenomenal growth. In nine states, which legalized THC, the company has improved its In-Network providers.

Uninsured Non-Elderly Americans

Novus expects continued growth for its plans from uninsured and non-elderly Americans. It expects a total of 30 million from this segment. Several people in this bracket are uninsured and spend over one-third of the money from their pockets in the whole year. Novus has a presence in states like Illinois, Colorado, Nevada, Arizona, and California in which the uninsured rates 10% or higher. Many people in these states are uninsured because of the cost of health insurance is very high.

Expanding network of THC providers

Novus is expanding its network of THC providers that services its members/ patients in areas offering state-wide and city-wide delivery options. The providers of CBD offer delivery of CBD nationwide.

Signs an MGA agreement with Healthfield Solutions

Novus has announced the signing of an MGA accord with Healthfield Solutions, LLC, to sell its Cannabis Med Plan. Apart from marketing Novus Cannabis Med Plan along with its life, dental and supplemental health plans, Healthfield also trains its 1,600 agents. Its client base is more than 250,000.

Cannabis companies engaged in the cultivation and extraction are under pressure from the shareholders to increase profitability. Novus helps such companies with its tailored health plans say usage-based health plans. The companies can offer discounts/ rebates to the customers using Novus tailored health plans. Therefore, Verticals can offer affordable cannabis meds to their members and improve volumes and maintain higher profits.

Novus offers two plans: 1) offer a higher discount and also increase cannabis list price, 2) a higher markdown, and earn less money on cannabis meds sale. Most of the Verticals select the first plan to improve their margins.

Continue Reading

BUSINESS

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) Reports Cash And Cash Equivalents Of $70.1 Million In 2019: Zynerba Reports Net Loss Of $10.7 Million in Q4 2019

Published

on

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) has reported a net loss of $10.7 million in Q4 2019. Its cash and cash equivalents in 2019 are $70.1 million. According to the management of Zynerba, cash and cash equivalents are sufficient for the working capital and operational needs. The company will use the funds for the potential approval of Zygel and beyond the NDA submission. It ended Q4 2019 with strong execution.

Zynerba expects to report topline results in Q2 2020

CEO and Chairman of Zynerba, Armando Anido, the company expects a promising outlook for the rest of this year and into next year with several shots in the pipeline. The company is well poised to report topline results for the CONNECT-FX trial of Zygel in Q2 2020 in patients suffering from Fragile X syndrome.

Enrolls 212 patients for pivotal FXS trial

Zynerba has enrolled 212 patients for the CONNECT-FX trial. The company will evaluate the safety and efficacy of the Zygel in curing common behavioral symptoms of FXS in a placebo-controlled trial. It expects to report better than expected results in Q2 2020. On obtaining the positive results, Zynerba will request a meeting with the US FDA to apply for New Drug Application (NDA) considering the clinical data. It will seek the advice of the FDA for commercialization of the drug. The company would submit the necessary data to the US FDA for Zygel in FXS in Q2 2020 and expects approval in the mid-2021.

Enrollment in an open-label extension study

Zynerba has informed the caregivers of the patients that their participating kid could enroll in the open-label extension trial subject to the compliance of the child to the CONNECT-FX completion. It is irrespective of the perceived response of the child or actual blinded drug assignment in CONNECT-FX randomization. After completing the 14-week blinded CONNECT-FX trial, 158 patients are enrolled in an open-label extension study.

Recruits vice president

Zynerba has recruited Paul M. Kirsch as the Vice President (Regulatory Affairs and Quality Assurance). He will contribute 30 years of experience in regulatory affairs at companies that comprise Teva Pharmaceuticals, Iroko Pharmaceuticals, Cephalon Inc, and Trevena Inc.

Continue Reading



Trending Stories