We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Kane Biotech Inc | TSXV:KNE | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.125 | 0.125 | 0.15 | 0 | 21:00:06 |
Key Highlights include the following:
“We had some transformative events this quarter, including the WED funding, recent additions to our growing team, and a number of new partnerships with established brands,” stated Marc Edwards, Chief Executive Officer of Kane Biotech. “I believe we’re positioned very well for accelerated growth over the next year. We continue to see growth in the sales and distribution of our Animal Health products, and we are in the late stages of development for our first Human Health product, a DispersinB hydrogel for wound care. We have a robust team in place and the resources necessary to expand our existing product portfolio and to develop novel products for new markets.”
“I am very excited about Kane’s success so far throughout 2019, and I look forward to providing a deep dive into our operating activities and future priorities during the business update video conference on September 10,” concluded Mr. Edwards.
Kane Biotech will be hosting its first-ever business update on September 10, 2019. The update video will feature multiple members of Kane’s team and will be available on the company’s website after market close on the tenth.
Second Quarter 2019 Financial Highlights
Total Revenues:
License and Royalty Revenues:
Product and Services Revenues:
Gross Profit on Product and Services Revenues:
Total Operating Expenses:
Income (loss):
Selected Income Statement Information
Kane Biotech Inc. (TSX:V:KNE) | Q2, 2019 | Q2, 2018 | % Change | June YTD, 2019 | June YTD, 2018 | % Change |
Total Revenue | $221,290 | $112,578 | 97% | $842,547 | $222,240 | 279% |
License and Royalty Revenue* | $44,877 | $25,986 | 73% | $95,639 | $55,851 | 71% |
Product and Services Revenue** | $176,413 | $86,592 | 104% | $746,908 | $166,389 | 349% |
Gross Profit $ (Product and Services) | $37,631 | ($6,897) | - | $197,718 | ($42,126) | - |
Total Operating Expenses | $1,035,983 | $702,381 | 47% | $1,866,105 | $1,569,311 | 19% |
General and Administration | $675,778 | $579,025 | 17% | $1,271,462 | $1,212,360 | 5% |
Research | $360,205 | $123,356 | 192% | $594,643 | $356,951 | 67% |
Income (loss) for the Period | $1,675,462 | ($684,946) | - | $1,018,071 | ($1,557,974) | - |
Income (loss) per Share | $0.021 | ($0.009) | - | $0.013 | ($0.019) | - |
1 In accordance with the adoption of IFRS 15 Revenue from Contracts with Customers which went in to effect January 1, 2018, the upfront payment of $500,000 USD received from Dechra upon signing the License Agreement in March 2017 has been restated as deferred license revenue on the Statement of Financial Position retroactive to March 2017 and is now being recognized over the 10-year life of the agreement. | ||||||
2 Certain expenses previously recorded as general and administrative expenses in 2018 have been reclassified as cost of sales. | ||||||
Selected Cash Flow Information
Kane Biotech Inc. (TSX:V:KNE) | Q2, 2019 | Q2, 2018 | % Change | June YTD, 2019 | June YTD, 2018 | % Change |
Cash, end of period | $1,329,270 | $342,156 | 288% | $1,329,270 | $342,156 | 288% |
Cash, beginning of period | $122,788 | $1,244,828 | -90% | $75,425 | $1,975,723 | -96% |
Operating activities | $1,423,168 | ($870,710) | - | $1,031,888 | ($1,583,327) | - |
Financing activities | ($200,000) | - | - | $250,000 | - | - |
Investing activities | ($16,686) | ($31,962) | -48% | ($28,043) | ($50,240) | -44% |
Detailed financial information about Kane Biotech can be found in its June 30, 2019 Financial Statements and Management Discussion and Analysis on SEDAR and on the Corporation’s website. All amounts referenced herein are in Canadian dollars.
About Kane Biotech
Kane Biotech is a biotechnology company engaged in the research, development and commercialization of technologies and products that prevent and remove microbial biofilms. The Corporation has a portfolio of biotechnologies, intellectual property (56 patents and patents pending, trade secrets and trademarks) and products developed by the Corporation’s own biofilm research expertise and acquired from leading research institutions. StrixNB(TM), DispersinB(R), Aledex(R), bluestem(TM), AloSera(TM), coactiv+(TM) and Kane(R) are trademarks of Kane Biotech Inc. The Corporation is listed on the TSX Venture Exchange under the symbol "KNE".
For more information, please visit www.kanebiotech.com, or contact:
Marc EdwardsChief Executive OfficerKane Biotech Inc. +1 (514) 910-6991medwards@kanebiotech.com
Ray DupuisChief Financial OfficerKane Biotech Inc.+1 (204) 298-2200rdupuis@kanebiotech.com
Joe Green US. Investor Relations Edison Inc.+1 (646) 653-7030jgreen@edisongroup.com
Laine YonkerUS. Investor RelationsEdison Inc. +1 (646) 653 7035lyonker@edisongroup.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
This press release contains certain statements regarding Kane Biotech Inc. that constitute forward-looking information under applicable securities law. These statements reflect management’s current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. These risks and uncertainties include, but are not limited to, risks relating to the Company’s: (a) financial condition, including lack of significant revenues to date and reliance on equity and other financing; (b) business, including its early stage of development, government regulation, market acceptance for its products, rapid technological change and dependence on key personnel; (c) intellectual property including the ability of the Company to protect its intellectual property and dependence on its strategic partners; and (d) capital structure, including its lack of dividends on its common shares, volatility of the market price of its common shares and public company costs. Further information about these and other risks and uncertainties can be found in the disclosure documents filed by the Company with applicable securities regulatory authorities, available at www.sedar.com. The Company cautions that the foregoing list of factors that may affect future results is not exhaustive.
1 Year Kane Biotech Chart |
1 Month Kane Biotech Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions