| Can-Fite BioPharma (NYSE American: CANF) Reports Q3 Results and Provides Clinical Update |
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Can-Fite BioPharma (NYSE American: CANF), a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory, cancer and liver diseases, announced financial results for the nine months ended September 30, 2019 and provided an update on recent clinical activity.
Highlights:
- Reached Agreement with U.S. FDA on Phase III Study Design for Namodenoson in Liver Cancer
- Treating Liver Cancer Patients Under Compassionate Use Program
- Completed Patient Enrollment in Phase II NASH Study
- Signed Distribution Deal for Piclidenoson in South Korea & Received Upfront Payment
- Enrolling Patients in Phase III Studies for Piclidenoson in Rheumatoid Arthritis and Psoriasis
- Entered Collaboration Agreement to Develop Cannabinoid-Based Pharmaceuticals and Assays
- Granted Patents for Sexual Dysfunction Drug, Evaluating Strategic Partnerships
- Revenues for the nine months ended September 30, 2019 were $1.84M
Key Quote: “We are very pleased with the outcome of our End-of-Phase II meeting with FDA regarding Namodenoson in the treatment of liver cancer. As we advance towards a pivotal Phase III study in liver cancer, HCC patients in Israel now have access to Namodenoson through our approved compassionate use program. We look forward to several milestones in 2020, including topline results from our Phase II NASH study, initiation of our Phase III liver cancer study, ongoing enrollment in our Phase III studies for Piclidenoson, as well as our development agreement with Univo, to develop cannabis derived pharmaceuticals and screening based assays.” – Dr. Pnina Fishman, CEO
The Backstory: CANF’s lead drug candidate, Piclidenoson, is currently in Phase III trials for rheumatoid arthritis and psoriasis. CANF’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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| Piedmont Lithium (NASDAQ: PLL) Receives Federal Permit to Develop Mine |
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Piedmont Lithium (NASDAQ: PLL) received its Clean Water Act Sections 404 and 401 permit approvals, enabling the company to accelerate development activities for its integrated lithium chemical business. Piedmont now expects to complete a preliminary feasibility study (PFS) for its lithium hydroxide plant in Q2 2020 and a definitive feasibility study (DFS) for the Company’s integrated project by the end of 2020.
Why It Matters: Securing a Section 404 Individual Permit is a major milestone for any natural resource project in the US. The 404 and 401 permit approvals were achieved on the Company’s planned permit timeline originally announced in April 2018 and are a major milestone in the development of the Project.
Key Quote: “We will now move forward with the permitting of our chemical plant operations during 2020. Our project is unique in being the only spodumene-to-hydroxide project in the United States, and now also stands out as the most advanced American lithium project from a permitting perspective. We are very excited about the important milestones ahead of us as we look to deliver a DFS for a fully permitted integrated project by the end of 2020.” – Keith Phillips, President & CEO
The Backstory: PLL holds a 100% interest in the Piedmont Lithium Project located within the world-class Carolina TinSpodumene Belt (TSB) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the Western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.
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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| Paringa Resources (NASDAQ: PNRL) Closes $9M Royalty Financing |
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Paringa Resources (NASDAQ: PNRL), developer of the Poplar Grove mine in western Kentucky, secured $9 million in financing through a royalty agreement with SP2 Royalty Co, LLC for the company’s Buck Creek Mining Complex.
Why It Matters: Proceeds from the Royalty Financing have been received and will be used to fund Poplar Grove's mine ramp-up to positive cashflow. The key terms of the Royalty Financing are 2.0% of gross revenue from all coal leases within the Buck Creek Mining Complex for the life of the mine. PLL also executed an amendment to its Term Loan Facility (TLF) with Tribeca to further strengthen the company’s financial position.
The Backstory: PNRL operates the new low cost, high quality Poplar Grove thermal coal mine, part of the Buck Creek Complex located in western Kentucky. The Buck Creek Complex includes: (1) the operating Poplar Grove Mine with production capacity ramping up to 2.8 million tons per annum (Mtpa); and (2) the permitted Cypress Mine with planned production capacity of 3.8 Mtpa. Construction of the Poplar Grove Mine was completed in March 2019 and coal sales to customers commenced in April. Full production capacity at Poplar Grove is targeted for 2021, and the Company is also assessing plans to develop the Cypress Mine. Western Kentucky, which is within the Illinois Coal Basin, is one of the world's most coal mining friendly jurisdictions.
Disclosure
Paringa Resources Limited (PNRL) is a client of RedChip Companies, Inc. PNRL agreed to pay RedChip Companies, Inc., a $10,000 monthly cash fee, beginning in July 2019, for RedChip investor awareness services.
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| SinglePoint (OCTQB: SING) Reaffirms Positive 2020 Outlook |
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SinglePoint (OTCQB: SING) reported its largest third quarter in its history in November as the company continues to expand in hemp and solar markets.
Why It Matters: SinglePoint recently launched 1606 hemp which will have its major debut at the December 11-13, 2019 MJBIZCON where thousands will converge at the Las Vegas Convention Center to see the latest products in the industry. SinglePoint expects the sale of 1606 to be a large contributor in 2020 to overall company growth.
Key Quote: “We have an exceptional strategic plan in making SinglePoint one of the biggest publicly traded companies in the smokable hemp space. We believe we offer investors and our current shareholders tremendous value given our leadership position in several explosive markets including ecommerce, Hemp and Solar. As SinglePoint continues to grow revenue and profit we continue to strive for meeting the qualifications to apply for a listed exchange.” – Greg Lambrecht, CEO
The Backstory: SING is a technology and acquisition company with a focus on acquiring companies that will benefit from management, capital and technology integration. The company’s portfolio includes mobile payments, industrial hemp and renewable energy solutions. Through acquisitions into horizontal markets, SING is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base.
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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| Medalist Diversified REIT (NASDAQ: MDRR) Announces Cash Dividend of $0.125 per Share |
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Medalist Diversified REIT (NASDAQ: MDRR), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing value-add commercial real estate in the Southeast region of the U.S., announced a dividend for the fourth quarter of 2019 of $0.125 per share of its common stock.
The Q4 2019 Dividend will be payable in cash on March 10, 2020 to holders of record of the Common Stock as of February 11, 2020.
The Backstory: MDRR’s strategy is to focus on value-add and opportunistic commercial real estate which is expected to provide an attractive balance of risk and returns. Medalist utilizes a rigorous, consistent and replicable process for sourcing and conducting due diligence of acquisitions. The Company seeks to maximize operating performance of current properties by utilizing a hands-on approach to property management while monitoring the middle market real estate markets in the southeast for acquisition opportunities and disposal of properties as considered appropriate. This is the company’s fifth consecutive quarterly dividend since its November 2018 IPO.
Disclosure
Medalist Diversified REIT (MDRR) is a client of RedChip Companies, Inc. MDRR agreed to pay RedChip Companies, Inc. a monthly cash fee of $4,250 for four (4) months followed by a monthly cash fee of $8,500 for eight (8) months of RedChip investor awareness services, beginning in August 2019.
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| eMARINE Global (OTC: EMRN) Reports 56% Revenue Growth for Q3 |
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eMARINE Global (OTC: EMRN), a leading provider of information and communications technology (ICT) for the maritime industry, generated 56% year-over-year revenue growth in the third quarter ended September 30, 2019. Net income for Q3 increased 394% year-over-year to $532,000, driven by increased sales of higher-margin products and reduced related SG&A expenses.
Why It Matters: Founded in 2001 and based in South Korea, EMRN is working with a growing base of marquee customers to achieve maritime ICT convergence through fully integrated products and services, offering state-of-the-art e-navigation, marine Internet of Things (IoT), and marine big data solutions, primarily in Korea with near-term expansion into U.S. and Chinese markets.
Key Quote: “We are very pleased with our third quarter performance and expect to report positive net income in the fourth quarter driven by substantial year-over-year revenue growth. We are confident of this guidance as we’ve already secured contracts for our ECDIS technology, an Autopilot Monitoring Simulator project, and installation of the Incheon Vessel Traffic System, all of which will generate recognized revenue in the fourth quarter.” - Ung Gyu Kim, Chairman and CEO
The Backstory: EMRN is an established player in the world-leading South Korean shipbuilding industry, working with nearly all major builders. In November, the company announced a new contract with Hanjin Heavy Industry to supply the Company’s e-Navigator system for four new build Republic of Korea Navy (ROKN) ships. EMRN currently provides ongoing maintenance for the same product on 215 other ROKN vessels on an annually contracted basis.
Disclosure
eMARINE Global (EMRN) is a client of RedChip Companies. EMRN agreed to pay RedChip Companies a monthly cash fee of $3,500, beginning in July 2017, for RedChip investor awareness services. RedChip Companies, Inc. was paid 613,000 shares of EMRN Rule 144 stock for consulting services.
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| Quote of the Week |
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"Microcaps are not for the casual investor."
- Greg Sichenzia, Sichenzia Ross Friedman Ference LLP |
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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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