Day: May 13, 2024

Unicycive Announces First Quarter 2024 Financial Results and Provides Business Update

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– On Track to Provide Topline Data from the Ongoing Pivotal Clinical Trial with Oxylanthanum Carbonate (OLC) in Q2 2024 – – Multiple Presentations on OLC and UNI-494 at Prominent, Upcoming Medical Meetings – LOS ALTOS, Calif., May 13, 2024 (GLOBE NEWSWIRE) — Unicycive Therapeutics, Inc. (Nasdaq: UNCY) (the “Company” or “Unicycive”), a clinical-stage biotechnology company developing therapies for patients with kidney disease, today announced its financial results for the three months ended March 31, 2024, and provided a business update. “This is an exciting time for Unicycive as we progress towards the conclusion of our pivotal clinical trial for our lead asset oxylanthanum carbonate (OLC),” said Shalabh Gupta, M.D., Chief Executive Officer of Unicycive. “The trial is evaluating the tolerability, safety, and pharmacokinetics of...

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SurgePays Announces First Quarter 2024 Financial Results

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BARTLETT, Tenn., May 13, 2024 (GLOBE NEWSWIRE) — SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a technology and telecom company focused on the underbanked and underserved, today announced its financial results for the first quarter ended March 31, 2024. Management Commentary Chairman and CEO Brian Cox commented on the quarter’s results, “The first quarter of 2024 was highlighted by continued execution on our growth strategy and solid profitability. With a substantial cash balance of over $42 million and a full product suite, we believe we are well-positioned to become one of the country’s largest distributors of prepaid wireless and underbanked financial technology services. The uncertainty surrounding ACP funding sparked a refreshing sense of urgency to grow our business. We believe our strategic hires,...

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Duos Technologies Group Reports First Quarter 2024 Results

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Key progress on strategic initiatives and intellectual property sets the foundation for an expected improvement in results for the balance of the year. JACKSONVILLE, Fla., May 13, 2024 (GLOBE NEWSWIRE) — Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), a provider of machine vision and artificial intelligence that analyzes fast moving vehicles, reported financial results for the first quarter (“Q1 2024”) ended March 31, 2024. First Quarter 2024 and Recent Operational Highlights Notified of an award for an additional Railcar Inspection Portal (“rip®” or “RIP®”) system in a new industrial application environment. The contract is expected to be valued at approximately $2.7 million and installed in 2024. This addition to the Duos portfolio of RIPs currently deployed in North America expands the potential addressable...

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Centessa Pharmaceuticals Reports Financial Results and Business Highlights for the First Quarter of 2024

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Hemophilia Program: Ongoing registrational PRESent-2 and PRESent-3 studies of SerpinPC for the treatment of hemophilia B; PRESent-2 interim analysis planned in 2024 Orexin Agonist Program: Cleared IND and initiated Phase 1 first-in-human clinical trial of ORX750, a highly potent and selective OX2R agonist for the treatment of narcolepsy; Clinical proof-of-concept data in acutely sleep-deprived healthy volunteers planned in 2H of 2024 LockBody® Technology Platform: Ongoing Phase 1/2a study of LB101 (PD-L1xCD47) for the treatment of solid tumors Cash runway, extended by recent public offering, supports clinical plans through multiple data readouts BOSTON and LONDON, May 13, 2024 (GLOBE NEWSWIRE) — Centessa Pharmaceuticals plc (Nasdaq: CNTA), a clinical-stage pharmaceutical company that aims to discover and develop medicines that...

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TeraWulf Reports First Quarter 2024 Financial Results

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Self-mined 1,057 bitcoin in Q1 2024, an 8.9% increase over Q4 2023, on a total installed hashrate of 8.0 EH/s. Q1 2024 revenue grows 82.2% over Q4 2023 to $42.4 million. Q1 2024 Non-GAAP Adjusted EBITDA increases 95.4% over Q4 2023 to $32.0 million. Paid down approximately $63.6 million of debt so far in 2024, demonstrating the power of low-cost, profitable operations. On track to reach ~10.2 EH/s in Q3 2024, with plans to grow to ~13.3 EH/s by Q1 2025. EASTON, Md., May 13, 2024 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, domestic bitcoin mining facilities powered by 95% zero-carbon energy, today announced its unaudited interim financial results for the first quarter of fiscal year 2024 and provided an operational update. First Quarter 2024 GAAP...

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TMC Announces First Quarter 2024 Results

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NEW YORK, May 13, 2024 (GLOBE NEWSWIRE) — TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and first quarter financial results for the period ending March 31, 2024. Q1 2024 Financial Highlights $11.9 million cash used in operations for the quarter ended March 31, 2024 Net loss of $25.2 million and net loss per share of $0.08 for the quarter ended March 31, 2024 Total liquidity of approximately $49 million at March 31, 2024, inclusive of:  Cash of $4.0 million The $25 million unsecured credit facility from an affiliate of Allseas Group SA with a maturity date of August 2025 The $20 million unsecured credit facility with a maturity date of September 2025 provided by our largest shareholder, ERAS Capital...

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Infinera Corporation Fourth Quarter and Fiscal 2023 Summary of Key Financial Results

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SAN JOSE, Calif., May 13, 2024 (GLOBE NEWSWIRE) — Infinera Corporation (NASDAQ: INFN) has issued a press release with a summary of key financial results for the fourth quarter and fiscal year ended December 30, 2023. The press release is also published on Infinera’s Investor Relations website. GAAP revenue for the quarter was $453.5 million compared to $392.4 million in the third quarter of 2023 and $485.9 million in the fourth quarter of 2022. GAAP gross margin for the quarter was 38.6% compared to 40.3% in the third quarter of 2023 and 37.1% in the fourth quarter of 2022. GAAP operating margin for the quarter was 2.5% compared to 2.0% in the third quarter of 2023 and 5.2% in the fourth quarter of 2022. GAAP net income for the quarter was $12.9 million, or $0.06 per diluted share, compared to net loss of $(9.4) million, or $(0.04)...

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Urgently Announces First Quarter 2024 Financial Results

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First Quarter Performance Reflects Continued Margin Expansion VIENNA, Va., May 13, 2024 (GLOBE NEWSWIRE) — Urgent.ly Inc. (Nasdaq: ULY) (“Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, today reported financial results for the first quarter ended March 31, 2024. “Our first quarter financial performance was in line with our expectations. We made continued progress with our strategic initiatives to drive gross margin expansion through operational efficiencies and disciplined expense management. During the quarter, revenue exceeded our expectations and we delivered gross margin expansion of 4 percentage points, a 19% improvement in GAAP operating loss, and a 6% improvement in non-GAAP operating loss compared to the first quarter of 2023. We see this year as our opportunity...

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iBio Reports Fiscal Third Quarter 2024 Financial Results and Provides Corporate Update

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Strengthened cash position with investment by healthcare specialist investors Expanding into cardio-metabolic space through AstralBio collaboration BRYAN, Texas and SAN DIEGO, May 13, 2024 (GLOBE NEWSWIRE) — iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), an AI-driven innovator of precision antibody immunotherapies, today reported financial results for the third quarter ended March 31, 2024 and provided a corporate update. “In our third fiscal quarter, we continued to advance toward our goal of becoming a leading antibody discovery company with a differentiated machine-learning platform,” said Dr. Martin Brenner, CEO and Chief Scientific Officer. “Along with our recent equity financing, we secured a transformative partnership with AstralBio to discover and develop novel antibodies to treat obesity and other cardiometabolic...

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Hyperfine, Inc. Reports First Quarter 2024 Financial Results

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GUILFORD, Conn., May 13, 2024 (GLOBE NEWSWIRE) — Hyperfine, Inc. (Nasdaq: HYPR), the groundbreaking health technology company that has redefined brain imaging with the first FDA-cleared portable magnetic resonance (MR) brain imaging system—the Swoop® system—today announced first quarter 2024 financial results and provided a business update. “We have kicked off 2024 strong. I am pleased with our commercial progress shown by sales across US and international accounts, as well as the important milestones we hit in Q1 by commencing CARE PMR study enrollment in Alzheimer’s and launching our 8th generation AI-powered software,” said Maria Sainz, Chief Executive Officer and President of Hyperfine, Inc. “Commercialization, Clinical Evidence, and Innovation remain our three value drivers. In Q1, we demonstrated that our team is capable...

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