Welcome to our dedicated page for Empower Clinics news (Ticker: EPWCF), a resource for investors and traders seeking the latest updates and insights on Empower Clinics stock.
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Empower Clinics Inc (CSE:EPW, PINK:EPWCF) announced the addition of two seasoned Principal Investigators (PIs) for its Dallas site, increasing their active PI count to three. This strategic move enhances Empower's capabilities to conduct multiple research projects across various specialties, as part of their Clinical Trials Services. Empower operates as a Site Management Organization (SMO), collaborating with Contract Research Organizations (CRO) and pharmaceutical sponsors to streamline clinical trials. The CRO Services Market is projected to grow from $76.6 billion in 2023 to $127.3 billion by 2028. The Company also completed a debt settlement of $202,149 CAD, issuing shares priced at $0.025. This press release indicates Empower's intent to scale and improve cash flow as it navigates a challenging capital environment.
Empower Clinics Inc. (CSE:EPW, OTC PINK:EPWCF) has launched its new digital investor relations platform, PulseIR, to enhance communication and engagement with investors. This platform-as-a-service technology enables real-time, two-way communication via mobile wallets, providing personalized updates directly to investors' smartphones. Key features include automated messaging, segmented communication, and analytics to improve IR strategies. The platform is expected to significantly enhance how Empower engages with its investor base. Both Empower and Fobi AI, the technology's developer, anticipate that PulseIR will transform traditional investor relations practices.
Empower Clinics Inc. (CSE:EPW)(OTCQB:EPWCF) has announced a strategic partnership with a specialist medical group in Dallas, TX to develop pharmaceutical research and clinical trials services. This collaboration includes access to clinic facilities, licensed physicians, and a patient roster, establishing Empower as a Site Management Organization (SMO) in the area. As part of this initiative, Empower's subsidiary, EPW Curesearch LLC, has signed a Research Services Agreement with its first Principal Investigator (PI), enhancing its clinical trial capabilities. The company anticipates generating positive cash flow and new revenues from this venture, capitalizing on a rapidly growing CRO services market projected to reach $127.3 billion by 2028, with a CAGR of 10.7%.
Empower Clinics Inc. (CSE:EPW)(OTC PINK:EPWCF) announced on March 21, 2023, that it has initiated a strategic review process to explore options aimed at enhancing shareholder value, engaging Haywood Securities Inc. as a financial advisor. The company has focused on cost-cutting measures and aligning its business lines to reach profitability sooner. Potential strategic options include mergers, acquisitions, and partnerships, although no timeline for completion has been set. Empower operates in healthcare, providing clinical trial and research solutions, and aims to be a leader in the U.S. and Canada.
Empower Clinics Inc. (CSE:EPW)(OTC PINK:EPWCF) has announced the cancellation of its previously planned private placement offering, initially revealed on January 23, 2023. Chairman and CEO Steven McAuley stated that the decision was appropriate and updates regarding strategic initiatives will be forthcoming. Empower Clinics is focusing on its growth as a provider of clinical trials and research solutions across the U.S. and Canada, leveraging its expertise in laboratory diagnostics, medical devices, and clinic management. The company aims to enhance its services within the pharmaceutical, biotechnology, and medical device industries.
Empower Clinics Inc. (CSE:EPW)(OTC PINK:EPWCF) announces the formation of a Delaware Joint Venture with Dr. Bharat Mocherla, marking significant progress within 30 days of their Letter of Intent. The new entity, EPW Curesearch, LLC, aims to manage clinical trials for the Biotech and Pharmaceutical sectors. Importantly, over 50 Principal Investigator candidates have been identified to enhance trial participation. Empower anticipates generating 7-digit revenue in 2023 from these services, leveraging increased R&D investments. The partnership is set to expand beyond Texas, aiming to capitalize on a $76.6 billion CRO market projected to grow to $127.3 billion by 2028.
Empower Clinics Inc (OTCQB:EPWCF) announced its Q4 2022 financial results, highlighting a 63% decline in revenues to $426,786 compared to $1,142,581 in Q4 2021, primarily due to reduced COVID-19 testing. However, the gross profit margin improved to 16%, a substantial increase from a negative 25% in the previous year, driven by lower personnel costs.
Despite the revenue drop, the net loss from operations decreased to $2.37 million, compared to $4.68 million in Q4 2021. Cash reserves fell to $193,144 from $866,170. The company aims to expand its U.S. clinical trial services, reinforcing its commitment to becoming a Site Management Organization.
