Day: May 14, 2024

Outcome of interim analysis for the overall response rate (ORR) for the first 225 patients randomized in the pivotal Phase 3 trial (IOB-013/KN-D18) of lead investigational therapeutic cancer vaccine, IO102-IO103, in combination with pembrolizumab still expected in Q3 2024; outcome of primary endpoint of progression free survival (PFS) is now projected to occur in first half of 2025 Completed enrollment in Phase 2 basket trial IOB-022/KN-D38 and in first cohort of Phase 2 neoadjuvant/adjuvant basket trial IOB-032/PN-E40, which has been expanded to include a randomized melanoma cohort Presented poster at the American Association for Cancer Research (AACR) Annual Meeting 2024; non-clinical data presented further support the dual mechanism of action of IO102-IO103 Strengthened executive team with key hires to business and commercial development...

Best Quarterly Results in Company’s History from a Financial Perspective.EBITDA Improvements Driven by Record Revenues, Record Margins and Operational Efficiencies.Marketing Authorization of Trunerox™ in Colombia by INVIMA for Patients with LGS and DS in Colombia. TORONTO, May 14, 2024 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products is pleased to announce the results of Q1 2024. “We are pleased to report our first EBITDA positive quarter and a critical milestone in our path to self sufficiency. During our best quarter we also delivered record gross margins credited to the proprietary nature of products and services we offer in Canada and...

Strong performance while positioning for anticipated headwinds MISSISSAUGA, Ontario, May 14, 2024 (GLOBE NEWSWIRE) — KP Tissue Inc. (KPT) (TSX: KPT) reports the Q1 2024 financial and operational results of KPT and Kruger Products Inc. (Kruger Products). Kruger Products is Canada’s leading manufacturer of quality tissue products for the Consumer market (Cashmere®, Purex®, SpongeTowels®, Scotties®, White Swan® and BonterraTM) and the Away-From-Home (AFH) market and continues to grow in the U.S. Consumer tissue business with the White Cloud® brand and premium private label products. KPT currently holds a 12.8% interest in Kruger Products. Kruger Products Q1 2024 Business and Financial HighlightsRevenue was $479.4 million in Q1 2024 compared to $451.0 million in Q1 2023, an increase of $28.4 million or 6.3%. Adjusted EBITDA1...

CAMBRIDGE, Mass., May 14, 2024 (GLOBE NEWSWIRE) — Synlogic, Inc. (Nasdaq: SYBX), a biopharmaceutical company advancing novel therapeutics to transform the care of serious diseases, today reported financial results for the first quarter 2024 and provided a corporate update. In March 2024, the Company retained Lucid Capital Markets, LLC to act as its financial advisor to explore and evaluate strategic options for maximizing shareholder value. Potential strategic alternatives that may be explored or evaluated as part of this process include the potential for an acquisition, merger, business combination or other strategic transaction involving the Company. The Board has not set a timetable for the conclusion of this review, nor has it made any decisions related to any further actions or potential strategic options at this time. There...

Updated interim data from the upliFT-D trial in FTD-GRN demonstrated that Dose 1 PBFT02 achieved consistent elevation of CSF progranulin at six months post-treatment in the two patients with longest follow-up Completed dosing of Cohort 1 (n=5) in upliFT-D trial; on track to deliver 6-month safety and biomarker data from Cohort 1 in 2H 2024 Plan to continue studying Dose 1 in Cohort 2 of upliFT-D trial; expect to initiate dosing by the end of 1H 2024, as planned Initiated regulatory process with FDA to receive feedback on pathway to treating FTD-C9orf72 patients with PBFT02 Robust balance sheet sufficient to deliver meaningful clinical data, with cash runway into Q4 2025PHILADELPHIA, May 14, 2024 (GLOBE NEWSWIRE) — Passage Bio, Inc. (Nasdaq: PASG), a clinical stage genetic medicines company focused on improving the lives of patients...

Significant Cost Savings Continue to Drive Improvement in Key Operating Metrics SHOEMAKERSVILLE, Pa., May 14, 2024 (GLOBE NEWSWIRE) — Hydrofarm Holdings Group, Inc. (“Hydrofarm” or the “Company”) (Nasdaq: HYFM), a leading independent manufacturer and distributor of branded hydroponics equipment and supplies for controlled environment agriculture, today announced financial results for its first quarter ended March 31, 2024. First Quarter 2024 Highlights vs. Prior Year Period:Net sales decreased to $54.2 million compared to $62.2 million. Gross Profit Margin increased to 20.2% of net sales compared to 18.3%. Adjusted Gross Profit Margin(1) increased to 23.4% of net sales compared to 22.6%. Net loss improved to $12.6 million compared to $16.8 million. Adjusted EBITDA(1) increased to $0.3 million compared to $(2.1) million. Cash...

Mural’s lead product candidate, nemvaleukin alfa, is in two potentially registrational trials in platinum resistant ovarian cancer and mucosal melanoma, both of which are on track with readouts expected in 1H 2025 A new, less frequent IV dose of nemvaleukin is also being evaluated both as a single agent and in combination with pembrolizumab in patients with cutaneous melanoma with preliminary data readouts anticipated in 2025 In April 2024, Mural presented preclinical data on its investigational engineered cytokine therapies targeting IL-18 and IL-12 and continues to expect candidate nominations for each program by the end of 2024 The company reiterates cash runway projection into 4Q 2025, with sufficient capital to fund key clinical readouts WALTHAM, Mass. and DUBLIN, Ireland, May 14, 2024 (GLOBE NEWSWIRE) — Mural Oncology plc...