Kane Biotech Inc Stock Price, News & Analysis

Kane Biotech has announced the cancellation of 8,470,555 stock options held by directors, officers, and employees, while simultaneously issuing 10,739,488 restricted share units (RSUs). These RSUs can be converted into common shares over a ten-year period following their grant. This action is part of the company's performance and restricted share unit plan dated April 21, 2021. Kane Biotech focuses on developing technologies to combat microbial biofilms and holds 54 patents and pending patents.

Kane Biotech Inc. has developed a new stable topical hydrogel formulation of DispersinB® for wound care, marking a significant milestone in its product development. The company partnered with Dow Development Laboratories for clinical manufacturing, planning a randomized study in 2022 to assess safety and efficacy on chronic wounds. This initiative is backed by financial support from Western Economic Diversification Canada and MTEC. DispersinB® targets biofilm, a major barrier to wound healing, potentially revolutionizing treatment for resistant infections.

Kane Biotech Inc. is set to enhance its investor relations at the 10th Annual Whistler 2021 Capital Conference from July 9-11, 2021. CEO Marc Edwards will meet investors to discuss progress in animal health, OTC consumer goods, and wound care. Key highlights include:

• $2.7 million funding from the US Department of Defense for DispersinB^® development.
• Growing partnerships in pet oral care, targeting a $5 billion market.
• 6.2 million warrants exercised, providing crucial cash for investments.

For further details, visit kanebiotech.com.

Kane Biotech has launched a five-part video series titled “2021 Business Update”, starting with Episode 1 - “The Fundamentals”, released on June 16, 2021. This series aims to inform stakeholders about the company's strategies across its three key areas: OTC consumer products, animal health, and wound care. The first episode includes insights from CEO Marc Edwards and Chief Scientific Officer Gordon Guay, focusing on market opportunities and the company's approach to addressing biofilm-related issues. Subsequent episodes will cover innovations in various product lines and funding strategies.

Kane Biotech Inc. announced the approval of key compensation plans at its shareholder meeting on May 26, 2021. The Performance and Restricted Share Unit Plan (PRSU Plan) allows for the issuance of restricted and performance share units to employees and directors, with a cap of 10% of total outstanding shares. Additionally, the Amended and Restated Stock Option Plan reserves a maximum of 10% of common shares for stock options, removing previous aggregation requirements with other share plans. Details are available on SEDAR.

Kane Biotech reported first quarter 2021 financial results, with revenue from product sales at $254,448, down 4% from 2020 due to COVID-related shutdowns. However, sales to other pet retailers increased by approximately 27%. Total revenue grew by 58% compared to the previous quarter. Gross profit decreased 7% to $165,876, while operating expenses dropped 29% to $1,149,611. The company saw a net loss of ($1,010,892), a 26% improvement year-over-year. CEO Marc Edwards expressed optimism about future growth opportunities and partnerships.

Kane Biotech Inc. will release its Q1 2021 financial results on May 27, 2021. A conference call is scheduled for 4:30 p.m. ET to discuss the results and business developments. The company specializes in technologies to prevent and remove microbial biofilms, holding a portfolio of 53 patents and various trademarks. Kane Biotech is listed on TSX-V under the symbol KNE and on OTCQB under KNBIF. Risks include financial instability, reliance on equity financing, and potential impacts from COVID-19.

Kane Biotech Inc. has announced positive results from a significant consumer trial of its DermaKB™ products, conducted from November 2020 to January 2021. Of over 4,500 participants, 1,402 completed questionnaires, revealing that 82% saw symptom improvement after using Detoxifier and Shampoo, with an average 33% reduction in symptom severity from just a 3 oz. sample. Remarkably, 63% of users preferred DermaKB™ over their previous leading dandruff shampoo. This trial highlights the market need for these products, suggesting strong consumer interest and potential growth for the company.

Kane Biotech Inc. (OTCQB: KNBIF) announced the engagement of Dr. Allan Mandelzys as an advisor to its Board of Directors, with a nomination for board directorship at the upcoming Annual and Special Meeting on May 26, 2021. Dr. Mandelzys brings extensive experience in the biotechnology sector, having held key roles in various companies, including Searchlight Pharma and Matrizyme Pharma. His expertise is expected to enhance Kane's strategic growth, especially in addressing challenges like microbial biofilms and antibiotic resistance.