Ainos Concludes Growth Financing From Lind Partners
Rhea-AI Summary
Ainos, Inc. (NASDAQ:AIMD) has prepaid its remaining convertible note financing with Lind Global Fund II LP, totaling approximately $1.67 million. The company, focused on AI-powered point-of-care testing and low-dose interferon therapeutics, maintains a robust financial runway of over 12 months after the prepayment. Ainos has recently enrolled its first subject for VELDONA®-based animal drug in treating FCGS and is developing the next-gen Ainos Flora powered by AI Nose, implementing NVIDIA CUDA. The company's CEO, Chun-Hsien Tsai, expressed gratitude for The Lind Partners' financial support and reaffirmed Ainos' commitment to building shareholder value.
Positive
- Prepaid remaining convertible note financing of $1.67 million
- Maintains over 12 months of financial runway after prepayment
- Enrolled first subject for VELDONA®-based animal drug trial
- Developing next-gen Ainos Flora powered by AI Nose with NVIDIA CUDA implementation
- Secured $9M growth financing in May
Negative
- None.
Insights
Ainos' prepayment of its convertible note to Lind Global Fund II LP is a positive financial move. By clearing this
The company's claim of a 12-month financial runway post-prepayment is encouraging, suggesting stable short-term operations. However, investors should note that Ainos is still in the development stage for its VELDONA and AI Nose technologies, which typically require significant ongoing investment. The
Ainos' focus on AI-powered point-of-care testing (POCT) and low-dose interferon therapeutics (VELDONA) positions it in two promising healthcare sectors. The enrollment of the first subject for VELDONA®-based animal drug in treating Feline Chronic Gingivostomatitis (FCGS) marks a significant milestone in their clinical development pipeline.
The company's work on the next-gen Ainos Flora, leveraging AI Nose technology and NVIDIA CUDA, suggests a commitment to cutting-edge diagnostic tools. However, investors should be aware that the path to FDA approval and market adoption for such innovative technologies can be long and uncertain. The success of these projects will heavily depend on clinical trial outcomes and regulatory approvals, which are yet to be seen.
Maintaining robust financial runway after the prepayment
Reinforcing Ainos' commitment towards building shareholder value
SAN DIEGO, CA / ACCESSWIRE / August 6, 2024 / Ainos, Inc. (NASDAQ:AIMD)(NASDAQ:AIMDW) ("Ainos", or the "Company"), a diversified healthcare company focused on novel AI-powered point-of-care testing ("POCT") and low-dose interferon therapeutics ("VELDONA"), today announced that the Company has prepaid its remaining convertible note financing (the "Note") with Lind Global Fund II LP, an institutional investment fund managed by The Lind Partners (together the "Investor"), through conversions of the Note by the Investor and payments by the Company, which aggregates at a total of approximately US
Chun-Hsien (Eddy) Tsai, Chairman of the Board, President, and CEO of Ainos, commented, "We remain extremely appreciative of the financial support from The Lind Partners, which provided us the growth capital to execute our VELDONA and AI Nose development plans. We recently have enrolled our first subject of VELDONA®-based animal drug in treating FCGS. We are also developing the next-gen Ainos Flora, powered by AI Nose, implementing NVIDIA CUDA. We believe we still have more than 12 months of financial runway after we paid off the Note. Moving forward, we are excited to add strength to our commitment to building shareholder value."
"The Lind Partners are hopeful about the long-term potential of VELDONA and AI Nose technologies Ainos is developing. It has been a constructive relationship with the Company. Eddy and his team have been diligent and responsible throughout our financing journey. We are happy to see the Company secured a
About Ainos, Inc.
Headquartered in San Diego, California, Ainos is a diversified healthcare company focused on novel AI-powered point-of-care testing (POCT) and low-dose interferon therapeutics (VELDONA). The Company's clinical-stage product pipeline includes VELDONA human and animal oral therapeutics, human orphan drugs, and telehealth-friendly POCT solutions powered by its AI Nose technology platform.
The name "Ainos" is a combination of "AI" and "Nose" to reflect the Company's commitment to empowering individuals to manage their health more effectively with next-generation AI-driven POCT solutions. To learn more, visit https://www.ainos.com.
Follow Ainos on X, formerly known as Twitter, (@AinosInc) and LinkedIn to stay up-to-date.
Safe Harbor Statement
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "estimate," "approximate," "expect," "intend," "plan," "predict," "project," "target," "future," "likely," "strategy," "foresee," "may," "guidance," "potential," "outlook," "forecast," "should," "will" or other similar words or phrases. Similarly, statements that describe the Company's objectives, plans or goals are, or may be, forward-looking statements. Forward-looking statements are based only on the Company's current beliefs, expectations, and assumptions. Forward-looking statements are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results may differ materially from those indicated in the forward-looking statements.
Important factors that could cause the Company's actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this press release include, among others, the cost of production and sales potential of the products announced in this press release; the Company's dependence on projected revenues from the sale of current or future products ; the Company's limited cash and history of losses; the Company's ability to achieve profitability; the Company's ability to raise additional capital to continue the Company's product development; the ability to accurately predict the future operating results of the Company; the ability to advance Ainos' current or future product candidates through clinical trials, obtain marketing approval and ultimately commercialize any product candidates the Company develops; the ability to obtain and maintain regulatory approval of Ainos' product candidates; delays in completing the development and commercialization of the Company's current and future product candidates, which could result in increased costs to the Company, delay or limit the ability to generate revenue and adversely affect the business, financial condition, results of operations and prospects of the Company; intense competition and rapidly advancing technology in the Company's industry that may outpace its technology; customer demand for the products and services the Company develops; the accuracy of third-party market research data, the impact of competitive or alternative products, technologies and pricing; disruption in research and development facilities; lawsuits and other claims by third parties or investigations by various regulatory agencies governing the Company's operations; potential cybersecurity attacks; increased requirements and costs related to cybersecurity; the Company's ability to realize the benefits of third party licensing agreements; the Company's ability to obtain and maintain intellectual property protection for Ainos product candidates; compliance with applicable laws, regulations and tariffs; continued listing on and compliance with the applicable regulations of the Nasdaq Capital Market; and the Company's success in managing growth. A more complete description of these risk factors and others is included in the "Risk Factors" section of Ainos' Annual Report on Form 10-K for the year ended December 31, 2023, and other public filings with the U.S. Securities and Exchange Commission ("SEC"), many of which risks are beyond the Company's control. In addition to the risks described above and in the Company's filings with the SEC, other unknown or unpredictable factors also could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this press release.
The forward-looking statements made in this press release are expressly qualified in their entirety by the foregoing cautionary statements. Any forward-looking statements contained in this press release represent Ainos' views only as of today and should not be relied upon as representing its views as of any subsequent date. Ainos undertakes no obligation to, and expressly disclaims any such obligation to, publicly update or revise any forward-looking statement to reflect changed assumptions, the occurrence of anticipated or unanticipated events or changes to the future results over time or otherwise, except as required by law.
Investor Relations Contact
Feifei Shen
Email: IR@ainos.com
SOURCE: Ainos, Inc.
View the original press release on accesswire.com
FAQ
What is the total amount of convertible note financing Ainos (AIMD) prepaid to Lind Global Fund II LP?
How long is Ainos' (AIMD) financial runway after prepaying the convertible note?
What recent development has Ainos (AIMD) made with its VELDONA®-based animal drug?
What technology is Ainos (AIMD) using in the development of its next-gen Ainos Flora?
