Kane Biotech Inc Stock Price, News & Analysis

Kane Biotech is set to announce its Q2 2021 financial results on August 26, 2021, after market close. A conference call will be held at 4:30 p.m. ET to discuss these results and recent business developments. The company focuses on technologies aimed at preventing and removing microbial biofilms and boasts a solid portfolio with 54 patents. Kane Biotech operates under the stock symbols KNE on TSX Venture and KNBIF on OTCQB.

Kane Biotech has received two Decisions to Grant from the European Patent Office for its coactiv+™ technology, enhancing patent coverage for its wound and skin infection treatments. The granted patents cover proprietary formulations, expanding the scope and term of protection significantly. CEO Marc Edwards emphasized the technology's versatility across various applications, including personal care and wound healing. The coactiv+™ technology destabilizes biofilms to promote healing and is recognized as safe by the FDA, positioning Kane for commercialization opportunities.

Kane Biotech Inc. is expanding its wound care portfolio with a new antimicrobial hydrogel utilizing its coactiv+™ technology, aiming for quicker market access via the 510(k) regulatory pathway. The US market for wound care hydrogels is estimated at US$200M. This initiative aligns with Kane's strategy to leverage its biofilm research and intellectual property for developing treatments for biofilm-related infections.

Laboratory tests suggest coactiv+™ effectively inhibits bacterial biofilm formation, making it a promising addition to wound healing products.

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.