Edesa Biotech Inc Stock Price, News & Analysis

Edesa Biotech, Inc. (NASDAQ:EDSA) has appointed Jennifer M. Chao to its Board of Directors, marking a significant move as the company approaches key milestones in its clinical programs. With over 25 years in biotech finance and corporate strategy, Chao is expected to provide valuable insights. She previously served in executive roles at major firms and is currently a board member at Endo International plc and Cardiol Therapeutics Inc. Edesa continues to focus on developing therapies for inflammatory and immune-related diseases, notably EB05 for Acute Respiratory Distress Syndrome and EB01 for allergic contact dermatitis.

Edesa Biotech (NASDAQ:EDSA) closed a registered direct offering of 2,739,727 common shares at $3.65 each, generating approximately $10 million in gross proceeds. The offering included warrants for the purchase of an equal number of shares at an exercise price of $3.52, valid for five and a half years. The funds will be used for working capital and corporate purposes. The company, focused on inflammatory and immune-related diseases, has two lead candidates in clinical trials: EB05 for Acute Respiratory Distress Syndrome and EB01 for chronic allergic contact dermatitis.

Edesa Biotech (NASDAQ:EDSA) announced a definitive agreement for a registered direct offering of 2,739,727 common shares at $3.65 each, estimated to raise $10 million before fees. The offering is expected to close around March 24, 2022. Concurrently, the company will issue warrants for an equal number of shares at an exercise price of $3.52, valid for five and a half years. Proceeds will be allocated for working capital and general corporate purposes, furthering Edesa's focus on innovative treatments for inflammatory diseases.

Edesa Biotech (NASDAQ:EDSA) announced a Phase 3 enrollment milestone for its monoclonal antibody candidate, EB05, targeting critically ill Covid-19 patients. Over 25% of subjects have been randomized, following positive Phase 2 results showing a 68.5% reduction in mortality risk. The study aims to confirm the efficacy and safety of EB05, especially for patients on ECMO and IMV+. The primary endpoint is 28-day mortality among approximately 315 patients, with additional metrics like ventilator-free days assessed. The company is also in discussions with the FDA regarding protocol amendments.

Edesa Biotech (NASDAQ:EDSA) announced its financial results for Q1 2022, reporting a net loss of $4.38 million, or $0.33 per share, up from a net loss of $2.64 million in the previous year. Operating expenses rose by $2.55 million to $5.16 million, mainly due to increased R&D costs linked to ongoing clinical studies. Health Canada approved the Phase 3 design for its EB05 clinical trial targeting ARDS in COVID-19 patients, following promising Phase 2 results. Edesa also achieved a recruitment milestone in its Phase 2b study for Allergic Contact Dermatitis.

Edesa Biotech (NASDAQ:EDSA) announced that CEO Dr. Par Nijhawan will participate in a virtual panel at the 2022 OBIO Investment Summit on February 10, 2022, at 1:00 PM ET. The discussion will focus on the company's adaptation of drug development in response to the COVID-19 health crisis. Edesa is a clinical-stage biopharmaceutical company, working on treatments for inflammatory and immune-related diseases, including lead candidates EB05 and EB01. EB05 targets Acute Respiratory Distress Syndrome, and EB01 is aimed at chronic allergic contact dermatitis.

Edesa Biotech (NASDAQ:EDSA) has received Health Canada approval to proceed with a Phase 3 clinical trial of its monoclonal antibody candidate EB05. This trial aims to assess EB05 as a rescue therapy for critically ill patients suffering from Acute Respiratory Distress Syndrome (ARDS), particularly in the context of COVID-19. Previous Phase 2 results indicated a significant 68.5% reduction in mortality risk for patients treated with EB05. The Phase 3 study will involve approximately 315 subjects, with a primary focus on 28-day mortality rates and additional secondary outcomes.

Edesa Biotech (NASDAQ:EDSA) reported fiscal year results for 2021, highlighting significant advancements in clinical trials for its lead products, EB05 and EB01. The Phase 2 studies for both candidates showed promising interim results, particularly for EB05, which was unblinded early due to efficacy. The company received $10.34 million in grant income, contributing positively to its finances despite a net loss of $13.34 million. Total operating expenses rose to $23.68 million, primarily due to clinical program costs. Edesa ended the fiscal year with $10.63 million in working capital.

Edesa Biotech, Inc. (NASDAQ:EDSA) has completed over 75% enrollment for its Phase 2b study of the EB01 cream for chronic allergic contact dermatitis, involving approximately 170 subjects. The company is also initiating a dose-ranging study for an additional 40 participants. A voluntary open-label extension allows placebo patients access to EB01 post-study. Interim results showed promising efficacy, with a 1.7-fold difference in primary endpoints and no serious adverse events reported. EB01 aims to provide a non-steroidal treatment alternative for ACD, addressing a significant unmet medical need.