Month: March 2023

Announces strategic reprioritization to focus on clinical development of MT-6402, MT-8421, and MT-0169, and preclinical activities related to BMS collaboration, and related workforce reduction AUSTIN, Texas, March 30, 2023 (GLOBE NEWSWIRE) — Molecular Templates, Inc. (Nasdaq: MTEM, “Molecular Templates,” or “MTEM”), a clinical-stage biopharmaceutical company focused on the discovery and development of proprietary targeted biologic therapeutics, engineered toxin bodies (“ETBs”), to create novel therapies with potent differentiated mechanisms of action for cancer, today reported financial results for the fourth quarter and full year ended December 31, 2022. MTEM also announced a strategic reprioritization and corresponding reduction in workforce, in order to focus on its core clinical development programs and extend its financial...

HOUSTON, March 30, 2023 (GLOBE NEWSWIRE) — Koil Energy Solutions, Inc. (OTCQB: KLNG) (“Koil Energy” or the “Company”), a specialist in deepwater production and distribution equipment and services, today reported results for the year ended December 31, 2022. Koil Energy at a Glance:Share Price†: $0.55    Cash*:       $2.4M52-Week Range†: $0.42 – $0.80    Book Value*: $7.1MShares Out.†: 11.9M    Price / Book Value: 0.9xMarket Cap†: $6.6M    TTM Revenue: $13.0M*As of 12/31/22; †As of 03/29/23      Charles Njuguna, Koil Energy’s CEO, commented, “Koil Energy’s top-line results for 2022 are indicative of the challenging offshore environment we experienced last year. Inflation, certain geopolitical events, and recurring recession indicators continued to weigh on the timing of our customers’ deepwater project schedules....

SAULT STE. MARIE, Ontario, March 30, 2023 (GLOBE NEWSWIRE) — Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today provided guidance for its fiscal fourth quarter ending March 31, 2023. Unless otherwise specified, all amounts are in Canadian dollars. Fiscal 2023 fourth quarter total steel shipments are expected to be in the range of 555,000 to 565,000 tons and Adjusted EBITDA is expected to be in the range of CDN $25 million to $30 million. Michael Garcia, Algoma’s Chief Executive Officer commented, “We anticipate that our shipments for the fourth fiscal quarter will align with our earlier projections now that our plate mill has returned to its historical production levels. As expected, our Adjusted EBITDA is directionally...

GEORGE TOWN, Cayman Islands, March 30, 2023 (GLOBE NEWSWIRE) — Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading developer and operator of advanced water supply and treatment plants, reported results for the year ended December 31, 2022. All comparisons are to the same year-ago period unless otherwise noted. The company will hold a conference call at 11:00 a.m. Eastern time tomorrow to discuss the results (see dial-in information below). Fourth Quarter 2022 Financial HighlightsTotal revenue increased 71% to $28.4 million. Retail revenue increased 25% to $6.8 million. Bulk revenue increased 23% to $8.5 million. Services revenue increased 206% to $10.3 million. Paid quarterly cash dividend of $0.085 per share ($0.34 on an annualized basis). As of December 31, 2022, cash and cash equivalents totaled $50.7...

PHOENIX, March 30, 2023 (GLOBE NEWSWIRE) — Mobivity Holdings Corp. (OTCQB:MFON), a global provider of personalized reward solutions that drive customer acquisition, frequency, and spend, today announced financial results for the fourth quarter (“Q4”) and full year ending December 31, 2022. Q4 2022 Financial HighlightsRevenue growth of 185% from $613,000 in the fourth quarter of 2021 to $1.7 million in the fourth quarter of 2022. Gross profit improved from a loss of $367,000 in the fourth quarter of 2021 to a gross profit of $602,000 in the fourth quarter of 2022, representing a 264% improvement. Operating expenses decreased 3% from $3.7 million in the fourth quarter of 2021 to $3.5 million in the fourth quarter of 2022. Net operating loss improved by 23% from $4 million in the fourth quarter of 2021 to $2.9 million in the fourth...

Revenue increased 46.4% to $5.38 million for the year ended December 31, 2022, as the Company implemented a SaaS delivery model for its AI-powered technology ATLANTA, March 30, 2023 (GLOBE NEWSWIRE) — Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM providing AI-powered trust and identity services used globally across multiple sectors, announced financial results and provided a business update for the full year ended December 31, 2022. Trust Stamp CEO Gareth N. Genner comments: “2022 was a transformative year for Trust Stamp, as we transitioned to our new Orchestration Layer to deliver Software-as-a-Service (SaaS) products built on our innovative IP portfolio through no-code/ low-code implementations. The Orchestration Layer is a one-stop solution for Trust Stamp services, provides for easy integration with our...

HOUSTON, March 30, 2023 (GLOBE NEWSWIRE) — Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced financial and operating results for the fourth quarter 2022. Key HighlightsGenerated full year 2022 sales volumes of 15,438 barrels of oil equivalent per day (“Boe/d”) Year-end 2022 reserves of approximately 92.0 million barrels of oil equivalent (“MMBoe”) with a standardized measure of discounted future net cash flows of approximately $1.5 billion Tenth well of 2022 capital program put online in January 2023 with one of the strongest IP30’s of the program Strengthened hedge book – weighted average strike price on crude oil swaps of $69.17 in 2023, a 36% increase over 2022 average Substantial progress on acid gas treating facility with expectation of being mechanically complete in early April...

– Sutro plans to initiate a Phase 2/3 registration-directed study of luvelta for patients with platinum resistant ovarian cancer in the second quarter – – Dr. Anne Borgman joined Sutro as Chief Medical Officer in February 2023 – – Sutro expanded its relationship with Vaxcyte through an option agreement for the development and manufacturing rights for cell-free extract – – As of year-end 2022, Sutro had cash and investments of $302.3 million and shares of Vaxcyte common stock valued at $32.0 million, which together provide a projected cash runway into the second half of 2024– SOUTH SAN FRANCISCO, Calif., March 30, 2023 (GLOBE NEWSWIRE) — Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody...

2022 Revenues Increase 69% to a Record $19.7 million SANTA MONICA, Calif., March 30, 2023 (GLOBE NEWSWIRE) — Super League Gaming (Nasdaq: SLGG), a global leader in building immersive entertainment experiences, has released its fourth quarter and full year 2022 financial results in the form of a shareholder letter. The fourth quarter and full year 2022 results are highlighted by continued revenue growth, particularly in advertising and sponsorship revenue. Management Commentary by Chief Executive Officer, Ann Hand: “We are proud to deliver yet another year of strong revenue growth on the back of a record fourth quarter. As traditional advertising dollars shift to where audiences have moved, Super League’s product-market fit has never been stronger. We see continuing business momentum stemming from a strong pipeline of not only larger...

Completed dosing of Phase 1b study of oral GLP-1 agonist GSBR-1290Topline data from Phase 1b and Phase 2a studies of GSBR-1290 expected in 2H 2023Completed $185.3 million upsized initial public offering SAN FRANCISCO and SHANGHAI, March 30, 2023 (GLOBE NEWSWIRE) — Structure Therapeutics Inc. (NASDAQ: GPCR), a clinical-stage global biopharmaceutical company developing novel oral small molecule therapeutics for metabolic and pulmonary diseases, today reported financial results for the fourth quarter and year ended December 31, 2022, and highlighted recent corporate achievements. “The successful completion of our IPO in February 2023 strengthens our financial position to advance GSBR-1290 and carry out our mission to provide oral small molecule medicines to patients with high unmet medical needs,” said Raymond Stevens, Ph.D., CEO...