Ceres provides update on Northgate canola crush plant project
Ceres Global Ag Corp. (TSX: CRP) ("Ceres" or the "Corporation") today announced its financial and operating results for its first quarter ended September 30, 2021. All dollar amounts are in U.S. currency unless otherwise noted. First Quarter Highlights:
"A very strong first quarter has Ceres off to an excellent start to our fiscal year. Diversification over the past few years, relentless focus on our customers, and our ability to successfully navigate through a generational drought and volatile grain markets contributed to our strongest quarter on record," said Robert Day, President and Chief Executive Officer of Ceres. "In addition to the record financial performance, we made significant progress on our growth and development; specifically, advancing the transformational canola crush project that was announced in May 2021." "Meanwhile, we continue to make steady progress on plans to build a one million metric ton integrated canola processing facility in Northgate, Saskatchewan. We have made deposits with major equipment suppliers, continued our progress on design and engineering, and will shortly begin to evaluate proposals from potential strategic partners." For more details on Ceres' plans to build an integrated canola crush facility in Northgate, Saskatchewan, click here. Source: Ceres Global Ag Corp.
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Appili Therapeutics Provides Update on Phase 3 PRESECO Clinical Trial Evaluating Avigan®/Reeqonus™11/12/2021 Infectious disease-focused biopharmaceutical company, Appili Therapeutics Inc., today announced that the Phase 3 PRESECO clinical trial evaluating oral antiviral Avigan®/Reeqonus™(favipiravir) for the treatment of mild-to-moderate COVID-19 did not achieve statistical significance on the primary endpoint of time to sustained clinical recovery. Additional analyses of the trial data are ongoing. The clinical trial enrolled 1,231 patients with mild-to-moderate COVID-19 from 38 study sites across the United States, Mexico, and Brazil.
“While we are disappointed by the topline results of the PRESECO trial, we remain steadfast in our belief that safe and effective oral antivirals are urgently needed for patients who are still struggling to overcome COVID-19. We wish to thank all the patients who participated, and hope that information obtained from our trial can help guide research and development around more potential treatment options for COVID-19,” said Dr. Armand Balboni, Chief Executive Officer, Appili Therapeutics. “Appili remains committed to addressing the challenges posed by infectious diseases and we will continue developing our pipeline to improve patient lives around the world.” The Phase 3 PRESECO (PREventing SEvere COVID-19 Disease) study is a double-blind, placebo-controlled, randomized, multi-center, global superiority trial investigating the safety and efficacy of oral Avigan/Reeqonus in the early treatment for adults infected with COVID-19 and showing mild-to-moderate symptoms. Participants were enrolled at multiple clinical trial sites in the United States, Brazil and Mexico. Participants were outpatients with mild-to-moderate symptoms who have had a recent positive COVID-19 test (within 72 hours of enrollment). Participants self-administered the drug regimen in their homes, with clinical investigators monitoring patients remotely. Avigan/Reeqonus is a broad-spectrum antiviral in oral tablet form. It is a selective inhibitor of viral RNA-dependent RNA polymerase (RdRP) with potent antiviral activity against single-stranded RNA viruses, including coronaviruses. Developed by FUJIFILM Toyama Chemical Co., Ltd. (FFTC) and approved in Japan as a treatment and stockpile countermeasure for pandemic influenza. Unlike most other interventions that researchers are evaluating in COVID-19, Avigan/Reeqonus has already been thoroughly studied in human trials and has a well-known safety profile, with over 3,000 subjects receiving at least one dose of the drug. Avigan/Reeqonus’ oral tablet form is shelf-stable and has an established commercial manufacturing process, which may provide advantages over other COVID-19 interventions, which often require temperature-controlled storage and/or injection or intravenous administration. Source: Appili Therapeutics Inc. DRI Healthcare Trust Doubles Quarterly Distribution to Unitholders Following Third Quarter Results11/8/2021 DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) ("DRI" or "the Trust") today announced its results for the quarter ended September 30, 2021.
"We had a very active third quarter, executing multiple transactions and demonstrating our commitment and ability to build our cash flows and asset base," said Behzad Khosrowshahi, Chief Executive Officer of DRI Healthcare Trust. "Our existing assets continued to perform well during the quarter, and our recent transactions contribute meaningfully to our objective of generating sustainable growth in cash flow. We are pleased that this has allowed us to increase our quarterly distribution to unitholders." Third Quarter Highlights
Subsequent to Quarter End
Asset Performance During the third quarter, the Trust's portfolio included 17 royalty streams on 13 products that address medically necessary therapeutic areas, such as oncology, rare diseases, ophthalmology, endocrinology, autoimmune and vaccines. On September 30, 2021, the royalty asset portfolio had a book value, net of accumulated amortization, of US$306.6 million and generated Total Cash Royalty Receipts of US$15.4 million in the third quarter, on a pro forma basis. In addition, the Trust held a loan receivable with an outstanding gross principal balance of US$50.0 million at September 30, 2021. Liquidity and Capital On September 30, 2021, the Trust had cash on hand of US$33.8 million and an additional US$7.4 million funds held in trust. The Trust's secured notes had an outstanding balance of US$47.1 million on September 30, 2021, which was subsequently reduced with a principal payment of US$4.2 million made on October 15, 2021 from the funds held in trust, following which the remaining balance in funds held in trust was released to the Trust. On October 22, 2021 the remaining secured notes were fully retired using proceeds of a new credit facility as described below. The Trust had units outstanding of 40,107,407 on September 30, 2021, all of which were issued in connection with the IPO and concurrent private placement on February 19, 2021. On September 30, 2021, the Trust was granted approval by the Toronto Stock Exchange for the proposal to acquire, from time to time, if considered advisable, up to 1,500,000 units of the Trust for cancellation between October 5, 2021 and October 4, 2022. As at November 1, 2021, the Trust had acquired 70,152 units at an average unit price of US$6.64. About DRI Healthcare Trust DRI Healthcare Trust provides unitholders with differentiated exposure to the anticipated growth in the global pharmaceuticals and biotechnology markets. Our business model is focused on managing and growing a diversified portfolio of pharmaceutical royalties with the aim to deliver attractive growth in cash royalty receipts over the long term. DRI Healthcare Trust is an unincorporated open-ended trust governed by the laws of the Province of Ontario, externally managed by its manager, DRI Capital Inc. DRI Healthcare Trust's units are listed and trade on the Toronto Stock Exchange in Canadian dollars under the symbol "DHT.UN" and in U.S. dollars under the symbol "DHT.U". Source: DRI Healthcare Trust |
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