Edesa Biotech Inc - EDSA STOCK NEWS

NeuPath Health has appointed Stephen Lemieux as President in a newly created role, effective May 1, 2025. Lemieux, who previously served as the company's CFO from 2019 to 2021, brings over 20 years of executive experience in healthcare and biopharmaceutical sectors.

As President, Lemieux will focus on implementing NeuPath's growth strategy, including:

• Accelerating inorganic and organic growth
• Optimizing operating margins
• Expanding service offerings and locations
• Pursuing strategic acquisitions
• Exploring adjacent market opportunities

The appointment follows NeuPath's successful financial and operational turnaround and newly secured credit facilities. During his previous tenure as CFO, Lemieux led NeuPath's expansion into Alberta. He most recently served as CFO at Edesa Biotech.

Edesa Biotech (NASDAQ:EDSA) has announced a leadership transition in its financial department. Peter J. Weiler will assume the role of Chief Financial Officer effective May 1, 2025, replacing Stephen Lemieux who is stepping down to pursue other opportunities.

Weiler brings significant experience from the biotech and pharmaceutical sectors, most recently serving as President of Exzell Pharma. His prior roles include VP of Business Development at Biosyent Inc. and various positions at Cipher Pharmaceuticals. He holds an MBA from Ivey School of Business, an MSc in Biology, and a BSc in Biology with a Diploma in Accounting.

Following the transition, Lemieux will continue providing financial advisory services to Edesa. CEO Par Nijhawan expressed confidence in Weiler's ability to support the company's pipeline advancement and strategic initiatives.

Edesa Biotech (NASDAQ:EDSA) reported its fiscal Q1 2025 results and provided business updates. The company is advancing EB06, an anti-CXCL10 monoclonal antibody for vitiligo treatment, with FDA data submission planned for mid-2025. A Phase 2 study for moderate-to-severe nonsegmental vitiligo patients is anticipated, with topline results expected 12-18 months after FDA clearance.

Financial highlights include unchanged total operating expenses at $1.9 million, with R&D expenses increasing to $1.0 million and G&A expenses decreasing to $0.9 million. The company reported a net loss of $1.6 million ($0.48 per share) compared to $1.7 million ($0.54 per share) in the previous year. Post-quarter, Edesa secured $15.0 million in gross proceeds through a private placement of preferred and common shares.

Edesa Biotech (NASDAQ: EDSA) has secured a $15.0 million private placement through the sale of 834 Series B-1 convertible preferred shares at $10,000 per share and 3,468,746 common shares at $1.92 per share. The placement was led by Velan Capital, with participation from new investors including Nantahala Capital, Rubric Capital Management LP, and others.

Company officers and directors invested approximately $1.1 million in the offering. The proceeds will fund the advancement of EB06, Edesa's CXCL10 monoclonal antibody, into a Phase 2 clinical study for nonsegmental vitiligo through fiscal 2026. The Series B-1 Preferred Shares are convertible to common shares at $1.92, with ownership limitations of 4.99% or 9.99%. As part of the agreement, David Liu from Velan Capital joined Edesa's Board of Directors.

Edesa Biotech (NASDAQ:EDSA) reported fiscal year 2024 results, highlighting a strategic pivot of its anti-TLR4 drug candidate (EB05) to a U.S. government-funded study for ARDS treatment. The company reduced operating expenses by over 20%, with total expenses decreasing to $7.0 million from $9.2 million year-over-year. Research and development expenses fell to $2.9 million from $4.8 million.

The company reported a net loss of $6.2 million ($1.93 per share) compared to $8.4 million ($2.93 per share) in the previous year. As of September 30, 2024, Edesa had $1.0 million in cash and negative working capital of $0.2 million. Post-fiscal year, the company secured $1.5 million from its CEO-affiliated entity and $0.6 million through an at-the-market offering.

Edesa Biotech (Nasdaq:EDSA) announced a strategic investment agreement with an entity affiliated with its CEO and Founder, Par Nijhawan, MD, for up to $5.0 million, including an immediate investment of $1.5 million. The investment involves purchasing Series A-1 Convertible Preferred Shares at $10,000 per share, convertible into common shares at $3.445, and warrants exercisable for 75% of the convertible common shares. The warrants will expire in five years. The company also terminated a previous $10 million revolving credit agreement with the purchaser, from which no funds were drawn.

Edesa Biotech's drug paridiprubart has been selected by BARDA for a U.S. government-funded Phase 2 clinical trial to treat ARDS. The trial will evaluate the drug's effectiveness in hospitalized patients with ARDS from various causes.

The study is part of Edesa's broader effort to develop host-directed therapeutics for immuno-inflammatory diseases. Paridiprubart aims to modulate the immune system's response to public health threats like pandemics and other emergencies.

A previous Phase 2 trial showed that paridiprubart reduced mortality by 84% among critically ill ARDS patients. An ongoing Phase 3 study in North America is also evaluating the drug for COVID-19 ARDS.

This trial, managed under a BARDA contract with PPD Development, will be double-blinded and placebo-controlled. Edesa will provide the drug and technical support. The data could support further regulatory and commercialization efforts.

Edesa Biotech, Inc. (Nasdaq: EDSA) reported its fiscal 2nd quarter 2024 results, showcasing financial stability and strategic growth initiatives. The company is focused on developing host-directed therapeutics for immuno-inflammatory diseases. Edesa expanded site selection activities for a Phase 3 study of its ARDS drug candidate, EB05, and received up to C$23 million from the Canadian government. The company also plans to evaluate EB05 in a broader ARDS population and file an IND for a Phase 2 study in pulmonary fibrosis. Additionally, Edesa is seeking regulatory approval for a Phase 2 study of its anti-CXCL10 monoclonal antibody in patients with nonsegmental vitiligo. Financially, the company demonstrated operational efficiency, with total operating expenses decreasing, while total other income increased. Edesa reported a net loss of $1.9 million for the quarter and $3.5 million for the six months ended March 31, 2024. With a focus on executing strategic milestones, Edesa aims to enhance its product pipeline and strengthen its position in the market.