Welcome to our dedicated page for Atlas Energy news (Ticker: CANSF), a resource for investors and traders seeking the latest updates and insights on Atlas Energy stock.
Atlas Energy Corp. (CANSF) generates news that reflects its role as an international upstream oil and gas royalty and streaming company and its evolution from Willow Biosciences Inc. Company announcements have described a significant recapitalisation, the completion of a TSX Venture Exchange listing under the symbol ATLE, and changes to its trading status on U.S. over-the-counter markets.
Earlier news releases issued under Willow Biosciences Inc. provide important background for investors tracking this symbol. Those disclosures cover the sale of Willow’s wholly owned operating subsidiary, the resulting status of Willow as having no active business, and the subsequent reorganization and investment agreement that provided for a private placement, new executive leadership, a reconstituted board of directors, and a name change to Atlas Energy Corp. They also outline the expected transition of the listing from the Toronto Stock Exchange to the TSX Venture Exchange and the use of the TSXV Sandbox program.
More recent communications under the Atlas Energy name highlight the company’s upstream royalty and streaming focus, the initial recapitalisation, and its status as a TSXV Sandbox issuer. News items also describe the voluntary delisting of the company’s common shares from the OTCQB and continued trading on the TSX Venture Exchange and OTC Pink market.
Investors following CANSF-related news can review this history to understand how the business focus shifted from precision fermented ingredients and biomanufacturing under Willow Biosciences to oil and gas royalty and streaming interests under Atlas Energy Corp., as well as how the company’s capital structure and listing venues have changed over time.
Willow Biosciences Inc. (TSX: WLLW; OTCQB: CANSF) has signed a commercial license and royalty agreement with Kalsec, Inc., a leading global producer of natural ingredients for the food and beverage industry. The agreement covers the use of Willow's technology for scaling and manufacturing a natural ingredient for savory food applications. Willow anticipates receiving milestone payments for the first pilot and industrial batches, followed by tiered royalty payments on net worldwide sales after launch.
The collaboration targets an existing $200M global market segment. Willow expects the research and development phase to be completed in 2024, with regulatory and scale-up work continuing into 2025. This agreement marks another successful transition of Willow's research program to commercial reality, highlighting the company's commitment to delivering safer and more sustainable natural products to consumers.
Willow Biosciences (TSX: WLLW; OTCQB: CANSF) reported record Q2 2024 revenue of $1.0 million, a 600% increase year-over-year. The company signed a strategic partnership with Laurus Labs to develop biobased processes for seven high-value APIs, expecting $4.0 million in guaranteed R&D payments in the first year. Willow anticipates over $4 million in revenue for 2024 from existing programs. The company also closed a private placement raising $1,639,737 and initiated a new feasibility study for bioactive pesticides production. With strengthened AI and business development capabilities, Willow continues to focus on revenue growth and cost reduction.
Willow Biosciences has announced a significant partnership with Laurus Labs to develop and manufacture active pharmaceutical ingredients (APIs), expecting $4 million in guaranteed R&D payments in the first year and annual royalties upon commercialization. The company projects revenue of over $1 million for Q2 and $3.5 million for 2024. Willow has also ventured into biopesticides, securing a proof-of-concept agreement with a biotech firm. Additional appointments include Dr. Richard Fox as Senior Advisor for AI Platform Technologies and Mr. Gregory Rocklin for Business and Corporate Development. The company has recently secured its first patent and plans to file five more in 2024. Willow aims to reduce its monthly burn rate and is optimistic about signing 2-3 new programs by year-end.
Willow Biosciences has announced a major partnership with Laurus Labs to develop and license multiple pharmaceutical ingredients. This strategic alliance grants Laurus access to Willow's AI-driven bioengineering platform, targeting seven high-value APIs, including corticosteroids. This partnership is Willow's largest to date, projected to generate significant annual revenues, with $4 million guaranteed in the first year for research and development. Willow's technology will help Laurus produce more sustainable and cost-effective APIs. Both companies anticipate commercial manufacturing to begin in 2025.
Willow Biosciences Inc. reported its first quarter 2024 financial results, showcasing reduced costs and progress in commercial expansion. The company continues to advance its corticosteroid production platform and expects to sign a large strategic partnership in Q2 2024. Willow signed new program agreements, advanced three programs, and aims to double its 2024 revenues. Financially, the company reduced cash burn by 53% compared to the previous year, ending the quarter with $1.6 million in cash.
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