Satellos Bioscience Inc Stock Price, News & Analysis

Satellos Bioscience (MSCLF) has announced the pricing of its overnight marketed public offering, aiming to raise up to US$40 million. The offering includes up to 63,285,000 securities at $0.90 per security, consisting of common shares or pre-funded warrants. The warrants can be exercised at a nominal price with no expiration date.

The offering is being conducted through a syndicate led by Bloom Burton Securities, including Canaccord Genuity, Haywood Securities, and Leede Financial. Expected to close around December 20, 2024, the proceeds will fund Phase 2 clinical development of SAT-3247, working capital needs, and general corporate purposes.

Satellos Bioscience (TSX: MSCL, OTCQB: MSCLF) has announced an overnight marketed public offering of common shares and optional pre-funded warrants. The company has filed a preliminary prospectus supplement to its base shelf prospectus dated April 7, 2024, with securities regulatory authorities in British Columbia, Alberta, and Ontario.

The offering will be conducted on a commercially reasonable best efforts basis through Bloom Burton Securities as lead agent. The size, price, and number of securities will be determined through market negotiations. The pre-funded warrants, available at purchasers' discretion, will have a nominal exercise price and no expiration date.

Proceeds will fund Phase 2 clinical development of SAT-3247, working capital needs, and general corporate purposes. The offering is expected to close around December 20, 2024, subject to regulatory approvals.

Satellos Bioscience (OTCQB: MSCLF) has reached a significant milestone in its Phase 1b clinical trial of SAT-3247, with the first Duchenne muscular dystrophy (DMD) participant receiving treatment. The company has successfully completed enrollment of all five single ascending dose (SAD) cohorts and the first two multiple ascending dose (MAD) cohorts in healthy volunteers, with no reported adverse effects.

The Phase 1b trial aims to enroll up to 10 adult participants with genetically confirmed DMD in a 28-day, open-label, single dose study to assess safety and pharmacokinetics. Initial results show SAT-3247 was well-tolerated, with no drug-related adverse events, abnormal clinical findings, or safety concerns. The pharmacokinetic profile successfully translated from pre-clinical models to human subjects. Clinical data is expected to be presented at a major medical conference in Q1 2025.

Satellos Bioscience (TSX:MSCL, OTCQB:MSCLF), a biotech company focused on developing small molecule therapeutics for muscle diseases, announces its participation in Oppenheimer's Movers in Rare Disease Summit in New York City on December 12, 2024. Frank Gleeson, Co-founder and CEO, will participate in a fireside chat titled 'Polypharmacy in DMD and Neuromuscular Disease' at 9:50AM ET. The management team will also be available for one-on-one meetings with registered summit attendees.

Satellos Bioscience (TSX:MSCL, OTCQB:MSCLF) announces participation in a live investor webinar focused on Duchenne muscular dystrophy (DMD) on December 4, 2024, at 2:00 pm ET. The webinar will feature key opinion leaders discussing three main topics: new treatment approaches for DMD, patient navigation of clinical trials, and Satellos' novel small molecule approach focusing on muscle regeneration.

Featured speakers include Elijah Stacy, a DMD patient advocate and Founder of Destroy Duchenne, Dr. Michael Rudnicki, Scientific Founder of Satellos and Director of Regenerative Medicine at Ottawa Hospital Research Institute, and Dr. Jordan Dubow, Satellos' CMO. The event will include a Q&A session and is free to attend.

Satellos Bioscience (TSX: MSCL, OTCQB: MSCLF) has appointed Stephanie Brown to its Board of Directors. Brown brings over 30 years of biopharma industry experience, with expertise in product commercialization and organizational transformation. She has held executive positions at major pharmaceutical companies including Santhera, Ipsen, Merck, Genentech, Biogen, Takeda, and Novartis, where she managed high-value product portfolios and led successful product launches. Her experience includes the commercialization of Aimovig, a breakthrough migraine prevention therapy. Currently, she serves on the Board of Directors for Resilia, Inc.

Satellos Bioscience reported Q3 2024 financial results and clinical updates for its DMD treatment SAT-3247. The company completed enrollment in the first three single-ascending dose cohorts with no safety concerns and initiated the first multiple-ascending-dose cohort. Key financial highlights include cash balance of $23.4M (down from $39.6M in December 2023) and Q3 net loss of $9.0M ($0.08/share) compared to $3.6M ($0.03/share) in Q3 2023. R&D expenses increased to $3.3M from $2.7M year-over-year. The company presented promising canine trial data showing improved muscle strength reaching near normal levels.

Satellos Bioscience (TSX: MSCL) (OTCQB: MSCLF), a biotech company focused on developing small molecule therapeutics for muscle diseases, has announced its participation in three major investor conferences in November 2024. The company will participate in a fireside chat at the Guggenheim Securities Healthcare Innovation Conference on November 13, deliver a presentation at the Stifel Healthcare Conference on November 18, and conduct one-on-one meetings at the Jefferies London Healthcare Conference from November 19-21. Both the fireside chat and presentation will be available via webcast on the company's website with replay options.

Satellos Bioscience Inc. (TSX: MSCL, OTCQB: MSCLF) announced promising results from a pilot study of SAT-3247, their oral small molecule treatment for Duchenne muscular dystrophy (DMD), in a canine model. After four months of daily treatment:

- Muscle function returned to near-normal levels compared to healthy animals
- Increased Regenerative Index (RI) in diaphragm, calf, and quadriceps muscles
- No adverse events or significant changes in hematology or clinical chemistry
- Trends towards lower creatine kinase levels, potentially indicating disease modification

The data will be presented at the 29th Annual Congress of the World Muscle Society in October 2024. Satellos believes these results are groundbreaking, especially given the severity of the canine DMD model compared to mouse models.