| Annovis Bio (NYSE American: ANVS) Issued European Patent for Method of Treating Alzheimer’s Disease with ANVS401 |
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Annovis Bio Inc. (NYSE American: ANVS), a clinical-stage drug platform company addressing Alzheimer’s disease (AD), Parkinson’s disease (PD) and other neurodegenerative diseases, announced the European Patent Office (EPO) granted the Company’s patent for a method of treating Alzheimer’s disease in humans by administering its lead compound, ANVS401.
Why It Matters: ANVS401 can work in AD and PD because nerve cells die by the same mechanism in both diseases, and ANVS401 stops the toxic cascade leading to nerve cell death in both diseases. Capitalizing on that knowledge, Annovis Bio is running two Phase 2 studies to show in both patient populations that what was demonstrated in animals can be reproduced in humans and that ANVS401 protects the nerve cells from dying, and by doing so, preserves the associated function.
Key Quote: “We now have two patents covering our primary disease targets, AD and PD, both originating from a patent family that claims ANVS401 for the treatment of neurodegenerative diseases. Pursuant to our discussions with the US Patent and Trademark Office (USPTO), we split the original application into a number of patents, each one covering individual diseases that our drug targets. Based on these discussions, we have filed additional patent applications for each individual neurodegenerative disease and expect to receive additional patent allowances in the coming months. We will continue to provide further updates as we execute on this process.” – Maria Maccecchini, Ph.D., CEO
The Backstory: Headquartered in Berwyn, Pennsylvania, Annovis Bio is a clinical-stage, drug platform company addressing neurodegeneration, such as Alzheimer’s disease (AD), Parkinson’s disease (PD) and Alzheimer’s in Down Syndrome (AD-DS). We believe that we are the only company developing a drug for AD, PD and AD-DS that inhibits more than one neurotoxic protein and, thereby, improves the information highway of the nerve cell, known as axonal transport. When this information flow is impaired, the nerve cell gets sick and dies. We expect our treatment to improve memory loss and dementia associated with AD and AD-DS, as well as body and brain function in PD. We have an ongoing Phase 2a study in AD patients and plan to commence a second Phase 2a study in PD and AD patients.
Disclosure
Annovis (ANVS) is a client of RedChip Companies, Inc. ANVS agreed to pay RedChip Companies, Inc. a $8,500 monthly cash fee, beginning in February 2020, for RedChip investor awareness services and consulting services.
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| Piedmont Lithium (NASDAQ: PLL) Appoints Lithium Industry Veteran as VP Sales & Marketing |
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Piedmont Lithium (NASDAQ: PLL) appointed Mr. Austin Devaney as Vice President – Sales & Marketing.
Why it Matters: Devaney will play a broad strategic role with Piedmont and will drive relationships with the global automotive, battery and cathode companies that are the prospective customers for the battery-grade lithium hydroxide we plan to produce in the United States.
Key Quote: “We are very pleased to welcome Mr. Devaney to our senior management team. Austin is one of the world’s most experienced lithium marketing professionals, having played a senior role with industry-leader Albemarle for most of the past decade. His relationships with important players in the EV supply chain will be instrumental in positioning Piedmont to secure lithium sales agreements with customers of the highest caliber.” – Keith Phillips, President
The Backstory: Location is one of the standout features of the Piedmont project, with access to excellent infrastructure and transport options, close proximity to existing lithium chemical processing facilities operated by Livent (NYSE: LTHM) and Albemarle (NYSE: ALB), and within reach of 13 auto manufacturing facilities. Compared to Australian- and Canadian-based projects, North Carolina offers a significantly lower-cost operating environment (labor, power/gas/diesel, transport), which is further boosted by the absence of government royalties and a low tax rate environment. Lithium is on the US Government’s Critical Minerals list, giving the project significant strategic value as being the only conventional US lithium development project.
Disclosure
Piedmont Lithium (PLL) is a client of RedChip Companies, Inc. PLL agreed to pay RedChip Companies, Inc. a quarterly cash fee of $20,000, beginning in April 2019, for 12 months of RedChip investor awareness services.
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| Esports Entertainment Group (NASDAQ: GMBL) Appoints Industry Veteran Magnus Leppäniemi as VP of Marketing and Head of Esports at Vie.gg |
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Esports Entertainment Group (NASDAQ: GMBL), a licensed online gambling company with a focus on esports wagering and 18+ gaming, announced that Magnus Leppäniemi has joined the Company as Vice President of Marketing and Head of Esports at Vie.gg. Mr. Leppäniemi is a gaming industry veteran and brings more than 20 years of sales and marketing experience.
Why It Matters: Since beginning his career in the gaming industry in 1996, Leppäniemi has sold and managed global esports partnerships for major brands and partners like Intel, BenQ Zowie, Electronic Arts, Activision, ESL, and the NBA. Prior to joining Esports Entertainment Group, Leppäniemi was Global Sales Director for Wehype. Previously, he served as Sales Director North America at DreamHack, a Swedish production company specializing in esports tournaments and other gaming conventions.
Key Quote: “Magnus is a proven marketing executive with invaluable knowledge of the gaming and esports industry. Over more than two decades in gaming, Magnus has built an extensive network of relationships that could provide tremendous value as we execute on our global growth strategy.” - Grant Johnson, CEO
The Backstory: Esports Entertainment Group is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers fantasy, pools, fixed odds and exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience at vie.gg. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in Curacao, Kingdom of the Netherlands.
Disclosure
Esports Entertainment Group, Inc. (GMBL) is a client of RedChip Companies, Inc. GMBL agreed to pay RedChip Companies, Inc. a $4,000 monthly cash fee, beginning in June 2018, and 225,000 shares of Rule 144 stock for RedChip investor awareness services.
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| Genetic Technologies (NASDAQ: GENE) Announces Closing of $8.0 Million Public Offering |
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Genetic Technologies Limited (NASDAQ: GENE), a leader in the development of genetic risk assessment tests, announced the closing of its previously announced public offering of 3,500,000 American Depositary Shares (“ADSs”), each representing six hundred (600) of the Company’s ordinary shares, at an effective purchase price of $2.00 per ADS, and 500,000 pre-funded warrants, at an effective purchase price of $1.9999 per pre-funded warrant, for aggregate gross proceeds of approximately $8.0 million. Each pre-funded warrant sold in this offering is exercisable into one ADS at an exercise price of $0.0001 per ADS.
Why It Matters: The gross proceeds from this offering are expected to be $8.0 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to support the introduction and distribution of our new products in the United States, for general product research and development, including the development of polygenic risk tests, and reimbursement studies with TGen in the United States, for implementation of our consumer initiated testing platform, preparation for potential COVID-19 testing and COVID-19 risk test for developing serious disease from contracting COVID-19 and for working capital and new equipment purchases.
The Backstory: Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. GTG offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company’s lead products GeneType for Breast Cancer for non-hereditary breast cancer and GeneType for Colorectal Cancer are clinically validated risk assessment tests and are first in class. Genetic Technologies has capacity for COVID-19 testing and is developing a pipeline of risk assessment products including a COVID-19 risk test for the risk of developing serious disease if a person were to contract COVID-19.
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. The Company renewed its Agreement with RedChip for an additional 12 months under the same terms of the previous Agreement.
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| Can-Fite BioPharma (NYSE American: CANF) Reports First Quarter 2020 Financial Results & Provides Clinical Update |
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Can-Fite BioPharma (NYSE American: CANF), a biotechnology company advancing a pipeline of proprietary small molecule drugs that address inflammatory, cancer and liver diseases, announced financial results for the three months ended March 31, 2020.
Key Highlights:
- Company to host conference call at 8:30 a.m. ET today, June 1
- Achieved efficacy and safety endpoints in Phase II NASH trial, with all cases of NASH significantly resolved after 12 weeks of treatment with 25 mg Namodenoson
- Pre-IND filed with FDA for clinical study of Piclidenoson in treatment of COVID-19
- Interim results from Phase III Piclidenoson trial for psoriasis and rheumatoid arthritis expected Q4 2020
Key Quote: “I am happy to report that our operations have not been materially impacted by the COVID-19 outbreak to date. Our ongoing clinical trials and clinical trial preparation work remain on track. We have implemented remote working and workplace protocols for our employees in accordance with Israel Health Ministry guidelines and we continue to closely evaluate the pandemic as it unfolds.” – Dr. Pnina Fishman, CEO
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 COVID-19. The Company's lead drug candidate, Piclidenoson, is currently in Phase III trials for rheumatoid arthritis and psoriasis. Piclidenoson has been approved for a pilot clinical trial in Israel to treat COVID-19 infected patients with moderate-to-severe symptoms. Can-Fite's liver drug, Namodenoson, is headed into a Phase III trial for hepatocellular carcinoma (HCC), the most common form of liver cancer, and successfully achieved its primary endpoint 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. These drugs have an excellent safety profile with experience in over 1,500 patients in clinical studies to date.
Cick Here: Investor Webinar with Can-Fite CEO this Thursday, June 4, at 11am ET – REGISTER NOW
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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| CytoDyn (OTCQB: CYDY) Files Request with FDA for Priority Review of BLA for First Approval |
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CytoDyn (OTCQB: CYDY), a late-stage biotechnology company developing leronlimab (PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications, announced today that it has filed with the U.S. Food and Drug Administration (FDA) a request seeking Priority Review designation for the Company’s Biologics License Application (BLA) for leronlimab as a combination therapy for HIV indication.
Why It Matters: A Priority Review designation means FDA’s goal is to take action on an application within 6 months (compared to 10 months under standard review). FDA informs the applicant of a Priority Review designation within 60 days.
Key Quote: “We look forward to the FDA’s decision on our important request and are hopeful that we can bring leronlimab therapy to highly treatment experienced HIV patients by late 2020. Leronlimab’s potential for many other indications could be expedited, should the Company receive its first approval. All other potential indications (and we believe there are many) could have a much faster approval process as label expansion approvals.” – Nader Pourhassan, Ph.D., President and CEO
The Backstory: CytoDyn is a late-stage biotechnology company developing innovative treatments for multiple therapeutic indications based on leronlimab, a novel humanized monoclonal antibody targeting the CCR5 receptor. CCR5 appears to play a critical role in the ability of HIV to enter and infect healthy T-cells. CytoDyn has successfully completed a Phase 3 pivotal trial with leronlimab in combination with standard antiretroviral therapies in HIV-infected treatment-experienced patients. CytoDyn filed its BLA in April 2020 to seek FDA approval for leronlimab as a combination therapy for highly treatment experienced HIV patients, and submitted additional FDA requested clinical datasets on May 11, 2020.
Disclosure
CytoDyn (CYDY) is a client of RedChip Companies, Inc. CYDY agreed to pay RedChip Companies, Inc., a $20,000 quarterly cash fee, beginning in February 2020, for RedChip investor awareness services. The CEO of RedChip Companies owns 3400 shares of CYDY.
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| Digital Ally (NASDAQ: DGLY) Prices $5.1M Underwritten Public Offering of Common Stock |
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Digital Ally (NASDAQ: DGLY) which develops, manufactures and markets advanced video recording products for law enforcement, emergency management, fleet safety and security, announced the pricing of an underwritten public offering of 3,090,909 shares of its common stock at a price of $1.65 per share, for gross proceeds to the Company of approximately $5.1 million, before deducting underwriting discounts and other offering expenses. The Company intends to use the net proceeds from this offering for working capital, product development, order fulfillment and for general corporate purposes.
The Backstory: Headquartered in Lenexa, KS, Digital Ally specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, and automatic recording technology. These products work seamlessly together and are simple to install and operate. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.
Disclosure
Digital Ally, Inc. (DGLY) is a client of RedChip Companies, Inc. DGLY agreed to pay RedChip Companies, Inc., a $7,500 monthly cash fee, beginning in September 2017, for RedChip investor awareness services.
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| Quote of the Week |
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"Small caps outperform not because of market capitalization alone but because the stocks in this category are least efficiently priced."
- James O'Shaughnessy, What Works on Wall Street |
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| About RedChip |
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| RedChip Companies, an Inc. 5000 company, is an international investor relations, media, and research firm focused on small-cap and mid-cap companies. Since 1992, RedChip has delivered concrete, measurable results for its clients through the most comprehensive service platform in the industry for small-cap and mid-cap companies. These services include a worldwide distribution network for its stock research written by analysts holding the CFA designation; retail and institutional roadshows in major U.S. cities; outbound marketing to stock brokers, RIAs, institutions, and family offices; a digital media investor relations platform that has generated over 2.3 million unique investor views; quarterly global online institutional and retail investor conferences that reach over 10,000 investors annually; "The RedChip Money Report" television show which airs in 100 million homes across the U.S. on The Family Channel; a weekly newsletter delivered to 60,000 investors; TV commercials in local and national markets; corporate and product videos; website design; and traditional investor relation services, which include press release writing, development of investor presentations, quarterly conference call script writing, strategic consulting, capital raising, and more. |
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| RedChip Disclosure |
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RedChip Companies, Inc. research reports, company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in RedChip reports, company profiles, or other investor relations materials and presentations are subject to change. RedChip Companies and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time.
RedChip Visibility is a division of RedChip Companies, Inc. and offers research services to paying clients. In the purview of Section 17(b) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention to the fact that the RedChip Companies Inc. is an investor relations firm hired by certain Companies to increase investor awareness to the small-cap equity community.
Stock market investing is inherently risky. RedChip Companies is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.
We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at www.sec.gov and view RedChip’s Disclosures. |
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