Tag: financial

Aerovate Therapeutics Announces Full-Year 2023 Financial Results and Business Highlights

Aerovate Therapeutics, Inc.

Aerovate Therapeutics, Inc.

WALTHAM, Mass., March 25, 2024 (GLOBE NEWSWIRE) — Aerovate Therapeutics, Inc. (Nasdaq: AVTE), a clinical stage biopharmaceutical company focused on developing drugs that meaningfully improve the lives of patients with rare cardiopulmonary disease, today announced financial results for the year ended December 31, 2023, and recent business highlights.

“Aerovate reached important milestones in 2023 with the achievement of full enrollment of the Phase 2b portion and the first patient enrolled in the Phase 3 portion of our IMPAHCT trial evaluating AV-101 for patients with PAH,” said Tim Noyes, Chief Executive Officer of Aerovate. “In 2024, we look forward to presenting baseline characteristics of IMPAHCT at the ATS international conference in May, as well as announcing Phase 2b topline data in June with the full Phase 2b clinical trial results to be presented at an upcoming scientific meeting. We remain confident that delivering our proprietary formulation of imatinib directly to the pulmonary vasculature via inhalation has the potential to achieve robust efficacy with a low side effect burden in PAH patients on two or three background therapies. As such, we continue to believe that AV-101 has the potential to be an important part of the future standard of care for PAH patients.”

2023 Highlights

Enrollment Complete and Topline Data Expected in June 2024 from Phase 2b Portion of the IMPAHCT Global Phase 2b/Phase 3 Clinical Trial. IMPAHCT (Inhaled iMatinib Pulmonary Arterial Hypertension Clinical Trial) is a global Phase 2b/Phase 3 trial of AV-101, our self-administered, twice daily dry powder inhaled formulation of the antiproliferative drug imatinib for the treatment of PAH. PAH is a devastating disease impacting approximately 70,000 people in the United States and Europe. In November 2023, we announced completion of enrollment at 202 adult patients in the Phase 2b portion of the IMPAHCT trial,

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Lucid Diagnostics Provides Business Update and Preliminary Fourth Quarter and Full Year 2023 Financial Results

Quarterly EsoGuard® revenue increased 33 percent sequentially

Expanding EsoGuard clinical validity and clinical utility data poised to drive medical policy coverage, including line of sight to Medicare coverage

Conference call and webcast to be held tomorrow, March 26th at 8:30 AM ET

NEW YORK, March 25, 2024 /PRNewswire/ — Lucid Diagnostics Inc. (Nasdaq: LUCD) (“Lucid” or the “Company”) a commercial-stage, cancer prevention medical diagnostics company, and majority-owned subsidiary of PAVmed Inc. (Nasdaq: PAVM, PAVMZ) ( “PAVmed”), today provided a business update for the Company and presented financial results for the year ended December 31, 2023.

Lucid Diagnostics Inc., markets the first and only commercial tools for widespread early detection of esophageal precancer and cancer – the EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell Collection Device. (PRNewsfoto/Lucid Diagnostics)

Lucid Diagnostics Inc., markets the first and only commercial tools for widespread early detection of esophageal precancer and cancer – the EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell Collection Device. (PRNewsfoto/Lucid Diagnostics)

Conference Call and Webcast

The webcast will take place on March 26, 2024, at 8:30 AM, and be accessible in the investor relations section of the Company’s website at luciddx.com.  Alternatively, to access the conference call by telephone, U.S.-based callers should dial 1-800-836-8184 and international listeners should dial 1-646-357-8785. All listeners should provide the operator with the conference call name “Lucid Diagnostics Business Update” to join.

Following the conclusion of the conference call, a replay will be available for 30 days on the investor relations section of the Company’s website at luciddx.com.

Business Update Highlights

“We are very pleased with the excellent progress Lucid has made on multiple fronts in the fourth quarter and recent weeks,” said Lishan Aklog, M.D., Lucid’s Chairman and Chief Executive Officer. “We saw solid revenue growth on stable test volume and our revenue cycle management processes are yielding improving allowances and stable pricing. Our #CYFT program targeting firefighters and other groups is thriving and we have a

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Canyongate Financial Launches Innovative Digital Marketplace for Faster Business Financings

DALLAS, March 25, 2024–(BUSINESS WIRE)–Canyongate Financial, a leading finance broker dedicated to helping small businesses secure equipment finance and working capital, announces the launch of CanyonConnect, a state-of-the-art digital marketplace revolutionizing the deal origination process.

“We are thrilled to introduce CanyonConnect, a groundbreaking platform that simplifies and expedites the deal origination process for all parties involved,” said John Innes, Managing Director, Canyongate Financial. “By leveraging artificial intelligence technology and automation, we are committed to empowering small businesses with the resources they need to thrive.”

CanyonConnect utilizes a proprietary machine-learning auto-decisioning program called the Canyongate Decision Engine (CGDE) which powers the funder selection tool designed to present the right deal to the right funder. This technology enables Canyongate to facilitate faster and more efficient deal processing for all parties involved in the origination process.

This platform streamlines the deal origination process by:

· Facilitating efficient access: CanyonConnect utilizes advanced technology to connect operators/merchants and brokers seamlessly, ensuring faster and smoother communication.
· AI-powered matching: Through its proprietary Canyongate Decision Engine (CGDE), CanyonConnect employs machine learning algorithms to match operators/merchants with the most suitable financing options based on their unique needs and financial profile.
· Facilitating win-win outcomes: By presenting the right financing to the right funder, CanyonConnect enables businesses to secure optimal financing, equipment dealers to close more sales, and funders to access a wider pool of qualified merchants.

“CanyonConnect represents the future of small business financing,” said Ricky Sanchez, Managing Director, Canyongate Financial. “This innovative platform streamlines the entire process, allowing businesses to secure funding faster and with greater ease while ensuring funders are presented with high-quality financing opportunities.”

To learn more, visit www.canyongatefinancial.com/dealers

About Canyongate Financial

Canyongate Financial is a leading finance broker assisting businesses nationwide obtain equipment finance, working capital and the financial

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Dianthus Therapeutics Highlights Recent Business Achievements and Reports Q4 and FY2023 Financial Results

Dianthus Therapeutics, Inc.

Dianthus Therapeutics, Inc.

Phase 2 MaGic trial in generalized Myasthenia Gravis (gMG) initiated in Q1’24 with top-line results anticipated in 2H’25

$389 million of pro forma cash, including $216 million of net proceeds from a successful PIPE financing completed in January 2024, provides runway into 2H 2027

Building a neuromuscular franchise with DNTH103 through additional planned Phase 2 trials in Multifocal Motor Neuropathy (MMN) and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) starting in 2024

NEW YORK and WALTHAM, Mass., March 21, 2024 (GLOBE NEWSWIRE) — Dianthus Therapeutics, Inc. (Nasdaq: DNTH), a clinical-stage biotechnology company dedicated to advancing the next generation of antibody complement therapeutics to treat severe autoimmune diseases, today reported financial results for the fourth quarter and full year ending December 31, 2023, and provided an update on recent business achievements.

“2023 was a transformative year for Dianthus, highlighted by becoming a public company, closing on a financing, and reporting out positive top-line data from our Phase 1 study that supports DNTH103 as a potentially best-in-class complement inhibitor,” said Marino Garcia, Chief Executive Officer of Dianthus Therapeutics. “DNTH103 is an investigational potent active C1s inhibitor of the classical pathway with an extended half-life that has the potential to offer a more convenient, safer treatment option for patients with infrequent, subcutaneous self-administration. With our Phase 2 MaGic trial now underway in patients with generalized Myasthenia Gravis (gMG) and cash runway into the second half of 2027 following successful completion of a $230 million PIPE financing in January, we are very well positioned to build a neuromuscular franchise around DNTH103 and reach key data readouts in our three initial indications of gMG, Multifocal Motor Neuropathy (MMN) and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP).”

Recent Business Highlights and Upcoming Milestones

DNTH103

DNTH103 is an investigational, clinical-stage, potent monoclonal antibody engineered to selectively target the

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Coast raises $92 million in new capital, partners with Visa to expand financial tools and software for modern business fleets

NEW YORK, March 21, 2024 /PRNewswire/ — Coast, which offers a simple and smart way for companies in the United States to manage fuel and fleet spending, today announced it has raised $92 million in new funding. The round includes $25 million in equity capital led by existing investors, including BoxGroup, Avid Ventures, Accel, Insight Partners, and Better Tomorrow Ventures, as well as new investor Vesey Ventures. The company also secured $67 million in committed debt capital from Silicon Valley Bank and TriplePoint Capital.

For the nearly one million American businesses that collectively operate around 40 million vehicles in their commercial fleets – including field service businesses like HVAC, plumbing, landscaping, pest control, construction, government fleets and long-haul trucking – managing expenses in the field is a major challenge. Over the decades, a handful of now very large incumbent payment solutions have emerged to serve fleet-operating companies’ needs with fuel cards, to allow fleet managers to set field-specific controls, like restricting purchases to only fuel products, or tracking expenses on a per-vehicle basis. The fleet fuel payments on these specialized cards add up to a staggering $120 billion annually in the US.

Coast, led by founder and CEO Daniel Simon, reimagines the fleet payments product category, enabled by mobile technology and state-of-the-art vehicle data and telematics.

Coast’s software gives fleet managers powerful policies and controls that they can tailor to the on-the-job needs of different employees and vehicles in their fleets. It uses real-time information that employee drivers provide through their phones, as well as data from the onboard computers of company

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Women entrepreneurs: persistent financial obstacles [Business Africa]

The entrepreneurial boom in Africa is undeniable, but behind this fervor lies a concerning reality.

According to a report published by TechCabal Insights on the occasion of International Women’s Rights Day, only 1.5% of funds raised by African startups between 2019 and 2023 were allocated to businesses led by women.

This observation highlights the persistent challenges faced by female entrepreneurs on the continent, particularly in STEM fields (science, technology, engineering, and mathematics), where female underrepresentation limits their access to funding. Despite these obstacles, notable successes are emerging, especially in the financial sector.

To ensure the sustainability of these successes, it is imperative to significantly increase investment funds dedicated to African women entrepreneurs, as emphasized by our guest, Evelyne Dioh, Executive Director of the WIC Capital fund. This pioneering fund aims to support women-led businesses in Francophone West Africa, thereby contributing to fostering inclusive economic growth on the continent.

“Biases exist, but in parallel, we have figures and data showing that women entrepreneurs manage to accomplish more with the limited funds they manage to raise.” – Evelyne Dioh, Executive Director of WIC Capital.

A new era begins: Congo joins the league of LNG exporters

The African nation of Congo joins the league of liquefied natural gas (LNG) exporters with the launch of its first cargo, marking a significant milestone in the Congo LNG project.

Initiated by ENI and its local partners, this project promises economic growth opportunities for the country while contributing to global energy balance. The first cargo, destined for the Italian regasification plant in Piombino, Tuscany, symbolizes this significant advancement.

The Congolese government aims for a production of over 600,000 tonnes of LNG this year and 3 million tonnes next year, with an expected profit of over 44 million euros in the 2024 budget, hoping to meet the needs

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I-Mab Reports Full Year 2023 Financial Results and Business Update

  • Recently announced agreement to divest assets and business operations in China marks an important milestone for the Company; the transaction is expected to close by the end of March 2024
  • Uliledlimab (CD73 antibody) on track to file an IND in combination with chemotherapy and checkpoint inhibitors for patients with newly diagnosed NSCLC in 1H 2024
  • First patient dosed in an ongoing, triplet combination, dose escalation study of givastomig (CLDN18.2×4-1BB bispecific antibody) in 1Q 2024
  • RMB2.3 billion (US$321.8 million) in cash and cash equivalents, and short-term investments as of December 31, 2023

ROCKVILLE, Md., March 14, 2024 /PRNewswire/ — I-Mab (the “Company”) (NASDAQ: IMAB), a U.S.-based, global biotech company, exclusively focused on the development and potential commercialization of highly differentiated immunotherapies for the treatment of cancer, today announced financial results for the full year ended December 31, 2023, and highlighted recent business updates.

“2023 was a transitional year for I-Mab and we were pleased to report encouraging clinical results in our two lead global assets in oncology, uliledlimab and givastomig. As we prepare for the closing of the strategic divestiture, we look forward to providing investors with a road map to value creation and believe that our differentiated clinical assets, uliledlimab, givastomig, and ragistomig will achieve critical milestones and trial initiations this year,” said Raj Kannan, Director and Chief Executive Officer of I-Mab.

Pipeline Overview and Upcoming Milestones:

Uliledlimab: Phase 2, with a focus on non-small cell lung cancer (NSCLC)

Uliledlimab is designed to target CD73 and promote stronger activation of the patient’s immune system against cancer cells. Uliledlimab is potentially differentiated from other products in development due to its non-competitive binding with adenosine monophosphate and the potential for complete inhibition of CD73’s immune dampening function. Encouraging results from a Phase 2 study of uliledlimab in

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With 59% ownership of the shares, First Business Financial Services, Inc. (NASDAQ:FBIZ) is heavily dominated by institutional owners

Key Insights

  • Given the large stake in the stock by institutions, First Business Financial Services’ stock price might be vulnerable to their trading decisions

  • The top 16 shareholders own 50% of the company

  • Insiders have been buying lately

A look at the shareholders of First Business Financial Services, Inc. (NASDAQ:FBIZ) can tell us which group is most powerful. We can see that institutions own the lion’s share in the company with 59% ownership. Put another way, the group faces the maximum upside potential (or downside risk).

Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute.

Let’s delve deeper into each type of owner of First Business Financial Services, beginning with the chart below.

See our latest analysis for First Business Financial Services

ownership-breakdown

ownership-breakdown

What Does The Institutional Ownership Tell Us About First Business Financial Services?

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

As you can see, institutional investors have a fair amount of stake in First Business Financial Services. This suggests some credibility amongst professional investors. But we can’t rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of First Business Financial Services, (below). Of course, keep in mind that there are other factors to consider, too.

earnings-and-revenue-growth

earnings-and-revenue-growth

Investors should

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World Kinect Corporation Highlights Growth Strategy and Financial Outlook During 2024 Investor Day

  • Focused on achieving a 30% adjusted operating margin and full-year adjusted EBITDA of $480 – 520 million by 2026.

  • Targeting aggregate Free Cash Flow generation of $900 million to $1.2 billion over the next five years, with approximately 40% allocated to buybacks and dividends.

MIAMI, March 13, 2024–(BUSINESS WIRE)–World Kinect Corporation (NYSE: WKC) (“World Kinect” or the “Company”) today hosted its 2024 Investor Day, during which the Company discussed its unique position in a large global market, its strategy to capture opportunities across its three business segments, and its financial targets to drive attractive long-term shareholder returns.

“As our team continues to deliver for our global customer base, we are focused on our strategy to accelerate growth by driving efficiencies in our core distribution platform, increasing the availability of renewable energy and lower-carbon fuels, and expanding our suite of energy-management solutions,” said Michael J. Kasbar, Chairman and Chief Executive Officer. “I am confident our clear strategy will drive greater value for our shareholders.”

Financial Outlook

  • The Company remains focused on driving greater operating efficiencies with a target of achieving a 30% adjusted operating margin by 2026.

  • Increased operating efficiencies and profitable growth are expected to contribute to annual adjusted EBITDA of $480 – 520 million by 2026.

  • The Company expects to generate between $900 million and $1.2 billion of total Free Cash Flow over the next five years, with approximately 40% of such amount expected to be allocated to buybacks and dividends.

“With a focus on generating improved shareholder returns, today we announced an updated financial outlook for increased operating efficiencies, profitability, and free cash flow,” stated Ira M. Birns, Executive Vice President and Chief Financial Officer. “We believe the achievement of these efficiency improvements, coupled with profitable growth, will enhance our ability to provide sustainable

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Spero Therapeutics to Provide Business Update and Report Fourth Quarter and Full Year 2023 Financial Results on Wednesday, March 13, 2024

Spero Therapeutics, Inc.

Spero Therapeutics, Inc.

CAMBRIDGE, Mass., March 06, 2024 (GLOBE NEWSWIRE) — Spero Therapeutics, Inc. (Nasdaq: SPRO), a multi-asset clinical-stage biopharmaceutical company, focused on identifying and developing treatments in high unmet need areas involving rare diseases and multi-drug resistant (MDR) bacterial infections, today announced that it will host a conference call and live audio webcast on Wednesday, March 13, 2024 at 4:30 p.m. ET to report its fourth quarter and full year financial results and provide an update on its business and pipeline.

To access the call, please dial 1-877-704-4453 (domestic) or 1-201-389-0920 (international) and refer to conference ID 13744458, or click on this Link and request a return call. The audio webcast can be accessed on the “Events and Presentations” page under the “Connect” tab of the Company’s website at www.sperotherapeutics.com. The archived webcast will also be available on Spero’s website for 30 days following the call.

About Spero Therapeutics
Spero Therapeutics, headquartered in Cambridge, Massachusetts, is a multi-asset, clinical-stage biopharmaceutical company focused on identifying, developing, novel therapies for rare diseases and multi-drug resistant (MDR) bacterial infections with high unmet need.

  • Spero Therapeutics is developing SPR720 as a novel oral therapy candidate for the treatment of a rare, orphan pulmonary disease caused by non-tuberculous mycobacterial infections.

  • Tebipenem HBr is an investigational drug in the United States being developed for the treatment of complicated urinary tract infection (cUTI), including pyelonephritis, caused by certain bacteria, in adult patients who have limited treatment options; tebipenem HBr is not U.S. Food and Drug Administration (FDA)-approved.

  • Spero Therapeutics also has an IV-administered next generation polymyxin product candidate, SPR206, developed from its potentiator platform, which is in development to treat MDR Gram-negative infections in the hospital setting.

For more information, visit https://sperotherapeutics.com.

Investor Relations Contact: 
Ted Jenkins
Vice President, Investor Relations and

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