Month: August 2022

Revenue increase of 49% year-over-year CHICAGO, Aug. 11, 2022 (GLOBE NEWSWIRE) — Fast Radius, Inc. (“Fast Radius”) (Nasdaq: FSRD), a cloud manufacturing and digital supply chain company, reported financial results for the second quarter ended June 30, 2022. Second Quarter 2022 Financial SummaryRevenue increased 49% to $7.3 million in second quarter 2022 compared to $4.9 million in second quarter 2021; Net loss was $22.2 million in second quarter 2022, or $0.29 per diluted share, compared to a net loss of $15.1 million, or $0.36 per diluted share, in second quarter 2021; Adjusted EBITDA loss was $17.3 million in second quarter 2022 compared to a loss of $13.5 million in second quarter 2021; and Total Bookings were $7 million in second quarter 2022, an increase of 13% compared to second quarter 2021.Management Commentary “In...

Phase 1 clinical trials of SZN-1326 and SZN-043 initiated and ongoing Preclinical proof-of-concept data for multiple programs presented and published in Q2 continue to validate Wnt modulation for tissue repairSOUTH SAN FRANCISCO, Calif., Aug. 11, 2022 (GLOBE NEWSWIRE) — Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a company pioneering targeted therapeutics that selectively activate the Wnt pathway for tissue repair and regeneration, today reported financial results for the second quarter of 2022 and provided a corporate update. “With the initiation of clinical trials for our lead therapeutic candidates, SZN-1326 and SZN-043, Surrozen became a clinical stage company in the second quarter of 2022,” said Craig Parker, President and Chief Executive Officer of Surrozen. “During the quarter we also presented data...

Company maintains strong cash position of $207.3 million SOUTH SAN FRANCISCO, Calif., Aug. 11, 2022 (GLOBE NEWSWIRE) — RAPT Therapeutics, Inc. (Nasdaq: RAPT), a clinical-stage, immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in inflammatory diseases and oncology, today reported financial results for the quarter and six months ended June 30, 2022. “Our operational momentum continued in the second quarter as we initiated our Phase 2b clinical trial of RPT193 in patients with moderate-to-severe atopic dermatitis and strengthened our balance sheet with a $50 million financing,” said Brian Wong, M.D., Ph.D., President and Chief Executive Officer of RAPT Therapeutics. “As we head into the second half of the year,...

CHRISTIANSTED, U.S. Virgin Islands, Aug. 11, 2022 (GLOBE NEWSWIRE) — Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) today announced financial and operating results for the second quarter of 2022. Second Quarter 2022 Highlights and Recent DevelopmentsThe Company has purchased more than $40 million in loans held for investment and has earned $0.5 million from loan interest during the second quarter of 2022.As of June 30, 2022, AAMC’s cash position was $31.3 million, which is net of the $32.0 million at quarter end for loans held for investment at fair value.Jason Kopcak has been appointed Chief Executive Officer by the Board of Directors.The Company has entered into a $50 million line of credit agreement with Flagstar Bank FSB (“Flagstar”). As of August 8, 2022, the Company...

Menlo Park, California, Aug. 11, 2022 (GLOBE NEWSWIRE) — Summit Therapeutics Inc. (NASDAQ: SMMT) (“Summit,” “we,” or the “Company”) today reports its financial results and provides an update on operational progress for the second quarter ended June 30, 2022. Financial HighlightsAggregate cash, accounts receivable, and tax credits receivable on June 30, 2022 totaled $74.0 million as compared to $89.0 million on December 31, 2021. Our cash balance on June 30, 2022 was $57.3 million as compared to $71.8 million on December 31, 2021. Accounts receivable and research and development tax credits receivable on June 30, 2022 were $16.7 million as compared to $17.2 million on December 31, 2021. Net loss for the three months ended June 30, 2022 and 2021 was $16.8 million and $24.4 million, respectively....

– Transition to transient transfection-based manufacturing process continues for SGT-001; Company expects to continue dosing patients in 2023 – – Development of next-generation Duchenne gene therapy candidate SGT-003 continues; Company anticipates mid-2023 Investigational New Drug (IND) submission – – Company ends Q2 with approximately $162.9 million in cash and investments; cash runway into Q2 2024 – CHARLESTOWN, Mass., Aug. 11, 2022 (GLOBE NEWSWIRE) — Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today reported financial results for the second quarter ended June 30, 2022 and provided a business update. “Solid has made important progress on both of our gene therapy programs this year,” said...

Q2 2022 Key Highlightsrevenues of $155.0 million adjusted EBITDA of $63.6 million net income of $44.3 million basic earnings of C$0.30/share free cash flow of $41.3 millionH1 2022 Key Highlightsrevenues of $304.9 million adjusted EBITDA of $124.0 million net income of $77.3 million basic earnings of C$0.52/share free cash flow of $95.7 millionJune 30, 2022 Key Highlightstrailing 12 months adjusted EBITDA of $213.1 million net debt of $146.2 million net leverage ratio of 0.7xRevised FY 2022 Guidanceadjusted EBITDA guidance of $210-230 million (maintained) net income guidance of $100-105 million (previously $80-95 million) basic earnings guidance of C$0.69-0.72/share (previously C$0.55-0.65/share) maintenance capex guidance of $18-22 million (previously $15-23 million) growth capex guidance of $18-21 million (previously $15-22...

All amounts in U.S. dollars unless otherwise stated TORONTO, Aug. 11, 2022 (GLOBE NEWSWIRE) — Onex Corporation (TSX: ONEX) today announced its financial results for the second quarter ended June 30, 2022 and an update on matters following quarter-end. “Onex continues to deliver solid performance and execute on its strategic plan in the face of a challenging environment,” said Gerry Schwartz, Chairman and Chief Executive Officer of Onex. “We are focused on growing our asset management business and leveraging our differentiated investing platforms to deliver sustained performance. Onex is a strong and stable partner, especially in times of change and challenge, allowing us to create long-term value for our stakeholders.” Financial Results(unaudited)($ millions except per share amounts)   Three Months Ended June 30, 2022     Three...