Welcome to our dedicated page for Edesa Biotech news (Ticker: EDSA), a resource for investors and traders seeking the latest updates and insights on Edesa Biotech stock.
Edesa Biotech reports developments as a clinical-stage biopharmaceutical company developing host-directed therapeutics for immuno-inflammatory diseases. Its recurring news centers on paridiprubart, or EB05, an anti-TLR4 antibody evaluated for Acute Respiratory Distress Syndrome, and EB06, an anti-CXCL10 monoclonal antibody program for moderate-to-severe nonsegmental vitiligo.
Company updates also cover clinical data presentations, manufacturing and regulatory preparation, government-supported research activities, conference participation, operating results, capital-structure matters and shareholder governance. Financial reports generally frame spending around clinical development priorities and the company’s monoclonal antibody pipeline.
Edesa Biotech (NASDAQ:EDSA) has surpassed 50% patient enrollment for the Phase 2b clinical study of its drug candidate, EB01, targeting chronic allergic contact dermatitis. This study evaluates EB01's safety and efficacy in 46 subjects. Previous trials have shown statistically significant symptom improvement. CEO Dr. Par Nijhawan expressed optimism about the recruitment rate during the pandemic and plans for a blinded interim analysis post-first cohort. The annual economic impact of contact dermatitis in the U.S. is estimated at $2 billion, with over 2.5 million people affected.
Edesa Biotech (NASDAQ:EDSA) has received FDA clearance to commence the Phase 2 portion of its Phase 2/3 clinical study for EB05, an investigational drug targeting hospitalized COVID-19 patients. The study aims to evaluate the efficacy and safety of EB05 in adults at risk of developing Acute Respiratory Distress Syndrome (ARDS). With the goal of reducing ICU admissions and mortality, Edesa is initiating site processes in U.S. hospitals. The Phase 2/3 study is randomized and double-blind, with hopes to progress to a pivotal Phase 3 trial based on Phase 2 results.
Pardeep Nijhawan announced an increase in his beneficial ownership of Edesa Biotech by over 2% from previous holdings. This change was prompted by a private share transfer and an earlier acquisition of shares, raising his total ownership to approximately 34.01% of the issued Common Shares. The new holdings include 3,257,157 Common Shares, 48,480 Options, and 11,570 Warrants. Dr. Nijhawan acquired these shares for investment purposes and will continue to monitor the company’s performance and may adjust his holdings in the future.
Edesa Biotech reported Q3 financial results for the period ending June 30, 2020. The company received Canadian approval for a Phase 2/3 clinical study of EB05, targeting COVID-19 related ARDS. Edesa's revenues were $0.11 million, attributed to past product sales, while net loss increased to $1.77 million or $0.20 per share. Operating expenses rose by $0.56 million to $1.88 million, primarily due to research activities. For the nine months, total revenue was $0.33 million with a net loss of $4.35 million. Working capital stood at $5.24 million, bolstered by recent warrant exercises bringing in $2.42 million.
Edesa Biotech (NASDAQ:EDSA) reported Q3 and YTD financial results for the period ending June 30, 2020. The company obtained Canadian approval for a Phase 2/3 study of EB05, targeting COVID-19 patients' ARDS. Edesa's total revenues reached $0.11 million for Q3, while net loss was $1.77 million ($0.20 per share). For 9 months, revenues were $0.33 million, with a net loss of $4.35 million ($0.52 per share). Cash and equivalents stood at $5.64 million at the end of Q3, bolstered by $2.42 million from warrant exercises. Edesa aims to expand its study to U.S. hospitals and prepare for increased patient enrollment.