Month: May 2022

First-quarter Revenue of $7.4 Million up 9% Year Over Year Backlog of Open Orders of $13.6 Million on Strong Bookings Display Production Up 27%, Benefiting From New Engineering Talent Display Gross Margin Increased to 32% From 23% in Q1 2021 HOPEWELL JUNCTION, N.Y., May 12, 2022 (GLOBE NEWSWIRE) — eMagin Corporation, or the “Company,” (NYSE American: EMAN), a leader in the development, design, and manufacture of Active-Matrix OLED microdisplays for high-resolution, AR/VR and other near-eye imaging products, today announced results for its first quarter ended March 31, 2022. “In what was a terrific first quarter for eMagin, our display revenues of $7.0 million were up 15% year over year while our quarterly display revenue gross margin improved to 32%,” said eMagin CEO Andrew G. Sculley. “The quarter was marked by diversified sales...

Continued Strength in Buyer Demand Drives Year-over-Year Sales Increase of 106.0% TACOMA, Wash., May 12, 2022 (GLOBE NEWSWIRE) — Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ: HCDI; HCDIP; HCDIW, HCDIZ), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced its financial results for the first quarter ended March 31, 2022. First Quarter 2022 Financial Highlights Compared to First Quarter 2021Consolidated net sales of $28.6 million compared to $13.9 million Gross profit of $6.1 million compared to $0.6 million Gross margin of 21.2% compared to 4.4% Net income of $1.6 million compared to a net loss of $(1.5) million Basic loss per share (EPS) of $(0.03) compared to $(0.12) EBITDA of $3.5 million compared to $0.1...

$23.5 Million in Cash and Investments as of March 31, 2022, Expected to Support Completion of the CAReS Trial and Operations Into Second Half of 2023 Results of Phase 1b CAReS Trial Anticipated in Q3 2022 SOLANA BEACH, Calif., May 12, 2022 (GLOBE NEWSWIRE) — Artelo Biosciences, Inc. (Nasdaq: ARTL), a clinical stage pharmaceutical company developing therapeutics that modulate lipid-signaling pathways, including the endocannabinoid system, today reported financial and operating results for the three months ending March 31, 2022. “We remain highly encouraged by the clinical data to date and we have yet to reach a maximum tolerated dose in our Phase 1b portion of the Cancer Appetite Recovery Study (CAReS) evaluating ART27.13 for the treatment of cancer-related anorexia,” stated Gregory D. Gorgas, President and Chief Executive Officer...

PALM BEACH GARDENS, Fla., May 12, 2022 (GLOBE NEWSWIRE) — AeroClean Technologies (“AeroClean” or the “Company”) (Nasdaq: AERC), a pathogen elimination technology company harnessing patented UV-C LED technology with Pūrgo™ to significantly reduce and remove harmful pathogens to keep work, play and life going, today reported financial results for the first quarter ended March 31, 2022 (“Q1 2022”). All financial information is presented in U.S. dollars unless otherwise indicated. First Quarter 2022 HighlightsExpanded sales and distribution capabilities by signing an agreement with a channel sales partner focused on school, government-sector, and commercial opportunities Launched targeted distributor initiatives aimed at expanding distribution and sales capabilities in various healthcare markets and both public (schools and governments)...

First Quarter 2022 Net Income of $466,000 ($0.14 per diluted share) v. $1,827,000 ($0.52 per diluted share) in Prior Period. Prior Period Includes $1,618,000 ($0.46 per diluted share) of PPP Loan Forgiveness. Exclusive of PPP Loan Forgiveness, Prior Period Net Income was $209,000 ($0.06 per diluted share) First Quarter EBITDA, as adjusted of $546,000 ($0.16 per diluted share) v. $1,903,000 ($0.54 per diluted share) in Prior Year Period. Exclusive of PPP Loan Forgiveness, Prior Period EBITDA, as adjusted was $285,000 ($0.08 per diluted share) Exclusive of Costs Relating to the Panel Products Acquisition, First Quarter 2022 Net Income was $564,000 ($0.16 per diluted share) and EBITDA, as adjusted was $644,000 ($0.19 per diluted share) HAUPPAUGE, N.Y., May 12, 2022 (GLOBE NEWSWIRE) — Orbit International Corp. (OTC PINK:ORBT) today...

TORONTO, May 12, 2022 (GLOBE NEWSWIRE) — Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) is pleased to announce its first quarter 2022 summary financial and operating results. The Company uses certain non-IFRS performance measures throughout this news release. Please refer to the “Non-IFRS Performance Measures” section of this news release for more information. All currency figures are Canadian $ unless stated otherwise. This release should be read in conjunction with the Company’s Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the three months ended March 31, 2022 and 2021, available on the Company’s website or on SEDAR.First Quarter 2022 Highlights Gold produced 24,358 ouncesAverage gold price realized US$ 1,838Revenue US$ 46,950,612Gross Profit US$ 20,766,149Net...

FYARRO net product sales of $2.3 million in partial first quarter Dosing of patients initiated in PRECISION 1, a Phase 2 tumor-agnostic registration-directed trial evaluating nab-sirolimus in TSC1 or TSC2 altered solid tumors Conference call to be held today at 8:30 am EDTLOS ANGELES, May 12, 2022 (GLOBE NEWSWIRE) — Aadi Bioscience, Inc. (NASDAQ: AADI), a biopharmaceutical company focused on developing and commercializing precision therapies for genetically-defined cancers with alterations in mTOR pathway genes, today announced financial results for the first quarter of 2022 and provided a corporate update. “We are very pleased and encouraged by the strong demand for FYARRO since its February 22nd launch despite the ultra-rare nature of advanced malignant PEComa,” commented Neil Desai, Ph.D., Founder, President and Chief Executive...

CHICAGO, May 12, 2022 (GLOBE NEWSWIRE) — Fast Radius, Inc. (“Fast Radius”) (Nasdaq: FSRD), a cloud manufacturing and digital supply chain company, reported financial results for the first quarter ended March 31, 2022. First Quarter 2022 Financial SummaryRevenue increased 65% to $6.3 million in 2022 compared to $3.8 million in first quarter 2021; Total Bookings were $7 million in 2022, an increase of 36% compared to first quarter 2021; Net loss was $44.6 million in 2022, or $0.73 per diluted share, compared to a net loss of $12.8 million, or $0.33 per diluted share, in first quarter 2021; and Adjusted EBITDA loss was $21.2 million in 2022 compared to a loss of $8.2 million in first quarter 2021.Management Commentary “In the first quarter, we grew revenue by 65% compared to the year ago period, driven by increased demand from...

LianBio’s partner, Bristol Myers Squibb, has received U.S. FDA approval of mavacamten for the treatment of patients with obstructive hypertrophic cardiomyopathy (oHCM)Registrational Phase 3 EXPLORER-CN clinical trial of mavacamten in Chinese patients with symptomatic oHCM ongoingLianBio’s partner, Tarsus, announced positive topline data from the Phase 3 Saturn-2 clinical trial of TP-03 in patients with Demodex blepharitisLianBio’s partner, ReViral, entered into definitive agreement to be acquired by PfizerThree additional pipeline programs expected to enter into registrational Phase 3 clinical trials in China by year-end 2022Cash balance of $389.1 million at the end of first quarter 2022 with runway through mid- 2024SHANGHAI, China and PRINCETON, N.J., May 12, 2022 (GLOBE NEWSWIRE) — LianBio (Nasdaq: LIAN), a biotechnology...

Announces Submission of Investigational New Drug (IND) Application for Decoy20 On Track to Initiate Phase 1 Clinical Trial of Decoy20 for Treatment of Solid Tumors in Second Half of 2022 NEW YORK, May 12, 2022 (GLOBE NEWSWIRE) — Indaptus Therapeutics, Inc. (Nasdaq: INDP) (“Indaptus” or the “Company”), today announces financial results for the first quarter ended March 31, 2022 and provides a corporate update. “We are delighted to report the submission of our Investigational New Drug (IND) application for systemically administered Decoy20. The timing of this submission keeps us on track to initiate our first in human clinical trial this year and we look forward to working with the FDA as we move through the IND submission process,” said Jeffrey Meckler, Chief Executive Officer of Indaptus. “Decoy20, with its ability...