NA Proactive news snapshot: Ipsidy, Co-Diagnostics, Antibe Therapeutics, The Green Organic Dutchman UPDATE …

A glance at some of the day's highlights from the Proactive Investors US and Canada newswires

Orgenesis - NA Proactive news snapshot:
Your daily round-up from the world of Proactive

Ipsidy Inc (OTCQB:IDTY), the biometric security specialist, has tapped the investment manager Philip Broenniman to its board. Broenniman boasts experience as an investment manager and entrepreneur as well as a financial analyst who specializes in derivative analytics, risk management and portfolio construction. For the last nine years, he has worked as a managing partner and portfolio manager for Varana Capital LLC, a firm he co-founded in 2011.

Analysts at HC Wainwright reiterated their Buy rating on Co-Diagnostics Inc (NASDAQ:CODX) and raised their price target to $20 a share as the company ships its coronavirus test to US and international markets. Co-Diagnostics is now shipping its proprietary COVID-19 test to 50 countries across four continents, including America, Europe, Asia and Australia, said the analysts, adding “the domestic and international demand for COVID-19 tests has been surging in the past weeks.”

The American Council on Science and Health (ACSH) hailed Antibe Therapeutics Inc’s (CVE:ATE) (OTCMKTS:ATBPF) lead drug, ATB-346 as a potentially “much safer and possibly more effective option” for the treatment of chronic pain and inflammation than anything currently on the market. The ACSH, a pro-science consumer advocacy organization, noted that Antibe is focused on developing safer, non-addictive drugs for pain management. The Toronto-based biotech is at the forefront of shaking up a $11 billion industry with a revolutionary new product that provides the relief of opioids without the resulting gastrointestinal damage.

The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF) announced Tuesday that it generated $11.16 million in revenue in 2019 and expects “continued sales momentum” in 2020. In reporting its financial results for the fourth quarter and fiscal year ended December 31, the cannabis company said sales in Europe increased across all product lines, including HemPoland's newly launched line of CBD topicals. Also, TGOD said quarterly sales in Canada increased marginally due to limited production from the Ancaster facility. It initiated production in its hybrid greenhouse in November 2019, with an eight-week flowering cycle.

Exro Technologies Inc (CSE:XRO) (OTCQB:EXROF) has granted incentive stock options to certain directors, officers, employees, and consultants to purchase an aggregate of 735,000 shares at a price of $0.375 per share, pursuant to the terms of its stock option plan. All of the options are subject to vesting provisions, and any shares issued upon exercise of an option will be subject to a hold period of four months and one day from the date of grant. (DD Jan 2020)

Phunware Inc (NASDAQ:PHUN) announced Tuesday it has engaged investor relations firm Hayden IR to raise the Texas company’s visibility and strengthen its relationships with the investment community. "Over the past year, we have strengthened our financial position as we approach operating cash flow breakeven and move towards breakeven on an adjusted EBITDA basis,” said Phunware CEO Alan Knitowski in a statement. “To ensure we capitalize on these important milestones, we look forward to working with the team of professionals at Hayden IR to help us target and expand our investor audience and ensure we are communicating effectively with Wall Street."

ImmunoPrecise Antibodies Ltd (OTCMKTS:IPATF) (CVE:IPA), the antibody discovery contract research organization (CRO), said lower expenses and increased revenue had led to positive adjusted earnings in its third quarter, sending shares higher. The firm hailed the fact that adjusted EBITDA (earnings before interest tax, depreciation and amortization) for the three months to end January this year and the nine months came in at C$717,716 and C$18,356, respectively - positive for the company for the first time. That compares to a loss of C$461,353 and a loss of C$1,553,090 for the same periods last year. "We are pleased to report IPA's record quarterly revenue and earnings, which was fueled by strong demand for a wide variety of our products and services in tool, research and therapeutic antibody discovery and manufacturing," Jennifer Bath, the group's president and chief executive, told investors.

Ideanomics Inc (NASDAQ:IDEX) updated investors Tuesday on Mobile Energy Global (MEG), the company’s electric vehicle corporation, in light of the coronavirus. Companies in China broadly returned to work at the beginning of March, the company said. MEG’s partners have been impacted to varying degrees, although the company has no details of any government stimulus programs to help the Chinese economy recover. The company had planned to participate in an EV mining event held from March 18-20 in Stockholm, but that event has been rescheduled to November due to coronavirus concerns.

Imagination Park Technologies Inc (CSE:IP) (OTCMKTS:IPNFF) issued a corporate update Tuesday, highlighting the upcoming augmented reality initiatives with the NBA's Sacramento Kings, the Milwaukee Auto Show and others. Imagination Park is scheduled to launch the new ImaginAR SDK integrated with the Sacramento Kings mobile app within the next 30 days. The SDK functions as a native mobile app for both iOS and Android. Alongside the mobile SDK, the company is updating the features and functions for the ImagineAR Cloud in Microsoft Azure. Added to the existing metrics dashboard are callbacks and data access, which enables custom analytics.

Verdeca, Arcadia Biosciences Inc (NASDAQ:RKDA) and Bioceres Crop Solutions Corp’s (NYSEAMERICAN:BIOX) joint venture, will unveil an array of soybean varieties carrying the drought-tolerant HB4 trait to thousands of South American growers at Expoagro 2020, which will be held from today through March 13 in San Nicolas, Argentina. These HB4 soybean varieties, which are still in a pre-commercial stage, provide tolerance to droughts and herbicides. “HB4 is a novel soybean trait that provides yield stability across diverse environments, delivering a biotech solution beyond the traditional packages, primarily focused on pest control traits,” said Martin Mariani Ventura, general manager of Verdeca. 

AIM ImmunoTech Inc (NYSE American: AIM), the biopharma group, has revealed that Japan’s National Institute of Infectious Diseases will kickstart the testing its flagship drug Ampligen as a potential treatment for the deadly new coronavirus (COVID-19), which originated in Wuhan, China. This experimental program to treat the virus, which is caused by SARS-CoV-2 and is related to the original SARS virus, will be conducted at the National Institute of Infectious Diseases (NIID) as well as the University of Tokyo. All testing and research will be conducted by Dr. Hideki Hasegawa, the director of Japan’s National Institute’s Influenza Virus research center and Dr. Takeshi Ichinohe, a PHD in the department of Pathology at the NIID, Department of Biological Science and Technology at Tokyo University of Science. Ampligen has previously been used with success in mice to treat Severe Acute Respiratory Syndrome (SARS), which is a sort of sister virus to the Wuhan coronavirus and also originated in China, but in the Guangdong province.

Thunderbird Entertainment Group Inc (CVE:TBRD) (OTCMKTS:THBRF) has been named to Fast Company's prestigious annual list of the World's Most Innovative Companies for 2020, ranking #9 in the Film and Television category. The list honors the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today's fast-changing world. This year's list features 434 businesses from 39 countries. Focused on diversity and inclusion, Thunderbird noted that it has championed several programs aimed at increasing representation in the television industry of underrepresented and minority groups, including women, blacks and indigenous people of color both onscreen and off. 

Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) announced Tuesday that it plans to complete a share consolidation on the basis of 10 existing common shares for one post-consolidation share. In a statement, the company said the 10-for-1 share consolidation will better position it to raise the funds it requires to finance its ongoing business activities. That includes the exploration and development of its projects, fast-track its majority ownership into Lovelock and Treasure Box projects (the Nevada-based battery minerals assets), and attract strategic partners and ongoing investments.

Orgenesis Inc (NASDAQ:ORGS), a developer of advanced cell and gene therapies, posted strong financial results Tuesday for the year ended December 31, 2019 driven by its point-of-care cell therapy business. The Maryland company recently completed the sale of subsidiary Masthercell Global Inc, a contract development manufacturing organization, to Catalent Pharma Solutions, for around $127 million. It expects to use the proceeds to grow its evolving point-of-care cell therapy business and develop advanced therapy medicinal products. The company's revenue jumped 78% to $33.3 million, compared to $18.7 million for fiscal year 2018. Similarly, gross profit soared 92% to $15 million in fiscal year 2019, compared to $7.8 million for FY 2018. The point-of-care (POCare) platform generated $3.1 million in sales, compared to nothing in FY 2018.

TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF), the cannabis-focused blockchain group, has welcomed Cesare Fazari as a director of the board with effect from March 9.  Fazari is a founding partner of Northwood Developments and specializes in commercial retail rollout, having completed thousands of turnkey projects for major commercial franchises, including Shoppers Drug Mart, Marshalls, Trade Secrets and Public Mobile, said the firm in a statement. Also in Tuesday's statement, TruTrace revealed that Swapan Kakumanu had resigned as director but he continues to serve as the finance chief and secretary of the company. This change is also with effect from March 9.

Canadian oil and gas producer Cenovus Energy Inc (TSE:CVE) has taken steps to protect its balance sheet in the wake of the significant global oil price slide, it told investors Tuesday.  Crude plunged after Saudi Arabia - the globe's top exporter -  said it would up output next month, flooding the market, in response to Russia's refusal to cut supplies as per an OPEC plan. Cenovus has now said it will cut its 2020 capital spending by around 32% for 2020 (to between C$0.9 to C$1 billion from C$1.3 to C$1.5 billion previously) to maintain the strength of its balance sheet. The oiler will also temporarily suspend its crude-by-rail program and deferring final investment decisions on major growth projects, it said. It will work towards funding this revised capital program and current dividend within its own cash flow, it added.

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) announced that it had ended 2019 with more than $70 million in cash and cash equivalents, giving the company plenty of capital as it advances its flagship Zygel CBD Gel to treat Fragile X Syndrome (FXS).  “Management believes that the cash runway is sufficient to fund operations and capital requirements beyond the expected NDA submission and potential approval of Zygel in FXS and into the second half of 2021,” the company said in a statement.  Zynerba said enrollment is complete with 212 patients randomized into CONNECT-FX, a pivotal, multinational, randomized, double-blind, placebo-controlled trial evaluating the efficacy and safety of Zygel in treating common behavioral symptoms of FXS. The company expects to report topline results late in the second quarter of 2020.

TRACON Pharmaceuticals Inc (NASDAQ:TCON) said that along with Osaka-headquartered Santen Pharmaceutical, a specialized company dedicated to ophthalmology, it has discontinued the development of DE-122 for the treatment of wet age-related macular degeneration (wAMD) after reviewing recently obtained top-line data from the Phase 2a AVANTE clinical study. Topline data shows DE-122 did not improve visual acuity when combined with Lucentis, compared to single-agent Lucentis. Santen licensed the development rights to DE-122 in the ophthalmic field from TRACON in 2014.

Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) said the TSX Venture Exchange had accepted for filing documentation about a non-brokered private placing announced February 28 this year and March 3 this year. It is for over 7 million shares at C$0.15 each and over 3.5 million warrants to buy the same number of shares at an exercise price of C$0.22 for five years. There are ten placees.

VolitionRx Limited (NYSEAMERICAN:VNRX) issued a corporate brochure and new corporate video detailing the company's mission, strategy, technology, recent achievements and future plans. "I am really proud to be chief executive officer of Volition and am excited with the progress we are making as we enter our tenth year," said Cameron Reynolds. "We have been working hard to develop our epigenetic platform, intellectual property, team and products and are excited to share these materials to help bring our mission to life."

Weekend Unlimited Industries Inc (CSE:POT) (OTCQB:WKULF) said it had raised a total of C$1.18 million via a previously announced placing, and it has now closed a second tranche.  In a statement on Tuesday, the company also said it had appointed David Parchomchuk as a board director.  On February 11 this year, the group said the first tranche had closed, bringing in a total of $1,029,337 from the issuance of around 8.23 million units at C$0.125 each. On Tuesday, the recreational cannabis and CBD wellness company said it had issued a further 629,300 units at a price of C$0.125 a throw. Weekend Unlimited has raised an aggregate total of C$1,180,000 through the offering, it said. Commissions related to the financing of $2,349 and 18,792 warrants have been paid and granted respectively.

NexTech AR Solutions Corp (CSE:NTAR) (OTCMKTS:NEXCF) CEO Evan Gappelberg has invested another chunk of capital into the augmented reality company by purchasing 100,000 shares of stock. The buy is on top of the combined US$100,000 worth of shares that Gappelberg and his wife bought in February. The CEO now owns more than 4.5 million shares. Gappelberg acquired the shares by exercising C$0.70 warrants, juicing NexTech’s cash position with a $70,000 investment. In total, the company’s cash position is more than C$3 million. The newly-bought shares will have a one-year resale restriction.



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Price: 7.04 USD

Market: NASDAQ
Market Cap: $170.06 m

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