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Edesa Biotech Inc - EDSA STOCK NEWS

Welcome to our dedicated news page for Edesa Biotech (Ticker: EDSA), a resource for investors and traders seeking the latest updates and insights on Edesa Biotech.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Edesa Biotech's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Edesa Biotech's position in the market.

Rhea-AI Summary
Edesa Biotech, Inc. (Nasdaq: EDSA) reported financial results for Q1 2024, securing C$23 million funding from the Canadian government for ARDS drug candidate EB05. They plan to evaluate the drug in a broader ARDS population and file an IND for a Phase 2 study in pulmonary fibrosis. Edesa also aims to conduct a Phase 2 study for their anti-CXCL10 monoclonal antibody in vitiligo patients. The company is in strategic discussions for commercialization and licensing partnerships. Financially, operating expenses decreased, research and development expenses declined, and general and administrative expenses increased slightly. Total other income rose significantly. Edesa reported a net loss of $1.7 million for the quarter, with cash and cash equivalents of $4.3 million and working capital of $3.4 million.
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Edesa Biotech, Inc. (Nasdaq:EDSA) to Participate in 2024 Dermatology Summit and J.P. Morgan 42nd Annual Healthcare Conference
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End-of-Day
-3.68%
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conferences
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Rhea-AI Summary
Edesa Biotech, Inc. (NASDAQ:EDSA) reported favorable financial results for the fiscal year ended September 30, 2023. The company achieved significant milestones and secured funding for its drug development programs. Edesa's CEO expressed confidence in the company's position for future growth, while the CFO highlighted the ability to deliver clinical results cost-effectively and raise funds under difficult market conditions.
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earnings
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Edesa Biotech, Inc. (NASDAQ:EDSA) announced favorable final results from a Phase 2b clinical study of EB01 cream for moderate-to-severe chronic Allergic Contact Dermatitis. The 1.0% EB01 cream showed statistically significant improvement over placebo, with patients demonstrating a 60% average improvement in symptoms from baseline. No serious treatment-related adverse events were reported. CEO Par Nijhawan expressed excitement over the results and the potential to bring life-changing solutions to patients.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.2%
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clinical trial
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Edesa Biotech, Inc. CEO, Dr. Par Nijhawan, to present at the 7th Annual Dermatology Drug Development Summit on November 1, 2023.
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-4.89%
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conferences
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Edesa Biotech receives Health Canada approval to harmonize clinical trial designs for Phase 3 study of EB05 for Acute Respiratory Distress Syndrome (ARDS)
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End-of-Day
1.51%
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clinical trial
Rhea-AI Summary
Edesa Biotech secures $10 million revolving credit facility agreement to support completion of ARDS study
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80.74%
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Edesa Biotech secures C$23 million commitment from the Government of Canada for Phase 3 clinical study of EB05
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80.74%
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Rhea-AI Summary
Edesa Biotech, Inc. (NASDAQ:EDSA) announces a one-for-seven reverse share split of its common shares. The split will not affect ownership percentage or voting power, except for fractional shares.
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Rhea-AI Sentiment
End-of-Day
-32.69%
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none
Rhea-AI Summary
Edesa Biotech's EB05 (paridiprubart) demonstrated a significant 84% reduction in the risk of dying among critically ill patients with severe respiratory disease, according to Phase 2 substudy data. The company has initiated a Phase 3 study and received Fast Track designation from the FDA.
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Rhea-AI Sentiment
End-of-Day
-8.86%
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clinical trial
Edesa Biotech Inc

Nasdaq:EDSA

EDSA Rankings

EDSA Stock Data

15.89M
2.36M
18.77%
10.9%
0.66%
Pharmaceutical Preparation Manufacturing
Manufacturing
Link
Canada
Markham

About EDSA

founded in 2015, edesa biotech brings innovative new treatments for dermatological and anorectal diseases. late-stage prescription drugs developed by edesa biotech aim to help patients who experience limited treatment options. edesa biotech's focus on dermatology is led by an experienced team that have licensed global rights to clinical stage assets for dermatology and anorectal indications.