| Can-Fite BioPharma (NYSE American: CANF) Receives $2.4M from Warrant Exercise |
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Can-Fite BioPharma (NYSE American: CANF), a biotechnology company with a pipeline of proprietary small molecule drugs that bind specifically to the A3 adenosine receptor (A3AR), addressing cancer, liver and inflammatory diseases, announced an agreement by several accredited investors to exercise certain warrants to purchase up to an aggregate of 22,278,540 ordinary shares represented by 742,618 American Depositary Shares (ADSs) having exercise prices ranging from $12.90 to $78.75 per ADS issued by Can-Fite in September 2015, October 2015, March 2018, January 2019 and April 2019, at a reduced exercise price of $3.25 per ADSs.
Why It Matters: The gross proceeds to Can-Fite from the exercise of the warrants are expected to be approximately $2.4 million, prior to deducting placement agent fees and estimated offering expenses. Can-Fite intends to use the net proceeds from the offering for working capital including for the progression of its Phase III psoriasis and the rheumatoid arthritis studies and the preparatory work for the Phase III liver cancer study as well as other general corporate purposes.
The Backstory: Can-Fite is an advanced clinical stage drug development Company with a platform technology that is designed to address multi-billion-dollar markets in the treatment of cancer, inflammatory disease and sexual dysfunction. The Company's lead drug candidate, Piclidenoson, is currently in Phase III trials for rheumatoid arthritis and psoriasis. Can-Fite's liver cancer drug, Namodenoson, recently completed a Phase II trial for hepatocellular carcinoma (HCC), the most common form of liver cancer, and is in a Phase II trial for the treatment of non-alcoholic steatohepatitis (NASH). Namodenoson has been granted Orphan Drug Designation in the U.S. and Europe and Fast Track Designation as a second line treatment for HCC by the U.S. Food and Drug Administration. Namodenoson has also shown proof of concept to potentially treat other cancers including colon, prostate, and melanoma. CF602, the Company's third drug candidate, has shown efficacy in the treatment of erectile dysfunction in preclinical studies and the Company is investigating additional compounds, targeting A3AR, for the treatment of sexual dysfunction. These drugs have an excellent safety profile with experience in over 1,000 patients in clinical studies to date.
Disclosure
Can-Fite Biopharma (CANF) is a client of RedChip Companies, Inc. CANF agreed to pay RedChip Companies, Inc. a cash fee of $5,000 monthly, beginning in August 2019, and 16,500 shares of CANF Rule 144 stock for 6 months of RedChip investor awareness services and consulting services.
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| Genetic Technologies (NASDAQ: GENE) Set to Offer Breast Cancer Test in US |
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Molecular diagnostics company Genetic Technologies (NASDAQ: GENE) announced its third-generation breast cancer test (GeneType for Breast Cancer) is on track for commercial release in the Unites States (US) in Q1 2020.
Why It Matters: Genetic Technologies expects to take advantage of the growing confidence and interest in genomic testing, and its first to market status in the US market. GeneType for breast cancer (BC) is on track for release in the US in Q1 (2020) via a soft launch across 20 centers in eight states, which demonstrates the strong support from practitioners for the introduction of the company’s third generation test incorporating mammography data. The Company anticipates a full launch in Q2 (2020).
The Backstory: BC continues to strike at an alarming rate, with 268,000 new invasive and 62,000 non-invasive BC cases projected to be diagnosed in women in the US in 2019. GeneType for BC is able to create a cost-effective solution to better identify at-risk women that are currently being overlooked in the general population. GeneType for BC will be available at US$249 per test, and the reduction in the cost (from US$3000 per test in 2011) and the addition of mammography data is expected to remove a major hurdle in the adoption and management of risk and BC for women. The company’s relationship with TGen (The Translational Genomics Research Institute) in the US is progressing very well, with the first studies around the best way to implement, reimburse and distribute GeneType for BC due to commence in Q1 2020. TGen is a trusted independent biomedical institute which is tasked with the implementation of new Genomic discoveries into the clinic. Successful studies are expected to result in new commercial opportunities with major US health networks.
Disclosure
Genetic Technologies (GENE) is a client of RedChip Companies, Inc. GENE agreed to pay RedChip Companies, Inc. a $7,500 monthly cash fee, beginning in March 2019, for six (6) months of RedChip investor awareness services.
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| Red Cat (OTC: RCAT) to Acquire Rotor Riot |
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Red Cat (OTC: RCAT), a leading provider of distributed data storage, analytics and services for the drone industry, today announced it has entered into an agreement to acquire Rotor Riot in a stock and cash transaction. The companies expect the deal to close in mid-January.
Why It Matters: Rotor Riot’s revenue grew approximately 44% year-over-year from 2018 to 2019 to approximately $2.6 million. This transaction will provide the resources and combined expertise to drive further growth for both companies. Red Cat will continue to build and accelerate its drone black box and SaaS business and utilize its existing data analytics platform to develop a robust customer support system for Rotor Riot. As part of the deal, Chad Kapper will continue as Rotor Riot’s CEO.
Key Quote: “Rotor Riot is not only a leading provider of FPV and drone racing hardware, but the company is also a trusted resource and deeply embedded in the global FPV community. Combining our companies will further align our SaaS platform and data capabilities with cutting edge hardware available today and provide a solid foundation for us to develop and engineer new and exciting technologies for both the drone hobby lifestyle and commercial industry.” – Jeff Thompson, CEO
The Backstory: Red Cat is a leading provider of secure blockchain-based distributed storage, analytics and SaaS for the drone industry. Through its innovative products and leadership, Red Cat provides solutions for regulators to track and review flight data, insurance companies to insure drones, and pilots to become compliant with regulations. Red Cat's success is driven by a commitment to deliver unrivaled innovation that makes drones trackable, accountable and the sky a safer place. Red Cat is headquartered in San Juan, Puerto Rico.
Disclosure
Red Cat Holdings (RCAT) is a client of RedChip Companies, Inc. RCAT agreed to pay RedChip Companies, Inc. a $5,000 monthly cash fee, beginning in January 2020, for three months and a $10,000 monthly cash fee thereafter for nine months, plus 50,000 shares of RCAT Rule 144 stock for 12 months of RedChip investor awareness services.
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| SinglePoint (OTCQB: SING) Shares Exciting Vision for 2020 |
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SinglePoint (OTCQB: SING) CEO Greg Lambrecht shared his vision for the company in an announcement last week, setting revenue guidance for 2020 at more than $10 million.
Key Quote:“I believe the best of SinglePoint is yet to come. I believe we are currently undervalued compared to our historical valuation range over the past three years, but our continued focus on the fundamentals of acquiring great businesses in emerging markets is starting to show results that should increase our shareholder value. I started SinglePoint over 13 years ago as LifeStyle Wireless. I have been the CEO of this public entity since 2011, working every day to increase shareholder value. Through revenue and profit we expect our share price to follow suit. I believe our acquisitions have the ability to create sustainable revenue growth and profitability. I am committed to continuing to improve the Company’s profile as evidenced by SinglePoint achieving fully reporting status with the SEC and listing to the OTCQB. There is more work to do and SinglePoint is up to the challenge. I am looking forward to more positive results this year and appreciate the continued support of our shareholders.” – Greg Lambrecht, CEO
The Backstory: Founded in 2011, SinglePoint invests in and acquires brands and companies that will benefit from injection of growth capital and the sales and marketing expertise of SinglePoint. The company's portfolio currently includes solar renewables, Hemp and distribution tobacco products. SinglePoint is working to grow the company to a multi-national brand.
Disclosure
SinglePoint, Inc. (SING) is a client of RedChip Companies, Inc. SING agreed to pay RedChip Companies, Inc. a $10,000 monthly cash fee, beginning in June 2019, for RedChip investor awareness services and consulting services.
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| Quote of the Week |
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"Look at what you can afford to lose, it’s a numbers game."
- Buzz Heidkte, Owner MidSouth Investor Fund |
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