Abvc Biopharma Inc - ABVC STOCK NEWS

ABVC Biopharma, Inc. (NASDAQ: ABVC) reported significant progress in the Phase II part 2 clinical trial of its ADHD medication, ABV-1505. As of June 1, 2022, a total of 14 subjects have begun treatment out of 100 expected participants. This randomized, double-blind, placebo-controlled study is conducted at five major hospitals in Taiwan and UCSF. The Phase I part of this study was successful and approved by the FDA in October 2020. The ADHD drug market is projected to grow from $16.4 billion in 2018 to $24.9 billion by 2025, indicating promising market potential for ABVC's product.

ABVC Biopharma, Inc. (NASDAQ: ABVC) has partnered with Orion BioTech, Inc. to identify candidates for out-licensing Orion's medical devices, including the FDA-approved "Lamina Cover". This engagement allows ABVC to leverage its global relationships to find licensing partners, earning a monthly retainer and 15% of licensing income. ABVC aims to enhance revenue streams to support its oncology and CNS drug development. The company has six drugs and one medical device in clinical development, collaborating with prominent research institutions.

ABVC BioPharma (NASDAQ: ABVC) has appointed Dr. Maurizio Fava and Dr. Thomas Laughren as consultants for its clinical studies focusing on treatments for Major Depression Disorder (MDD) and Adult Depression Hyperactive Disorder (ADHD). The MDD treatment completed Phase II studies accepted by the FDA in October 2020, while the ADHD treatment is advancing to Phase II, part 2 at UCSF and five sites in Taiwan. This collaboration boosts the company's clinical expertise as it navigates the regulatory process.

ABVC BioPharma reported first-quarter 2022 results, revealing a significant revenue decline to $25,660 from $263,150 in Q1 2021, attributed to COVID-19's impact on its CDMO business. Operating expenses surged to $6,242,485, up from $1,514,650, driven mainly by stock-based compensation costs. Net loss for the quarter expanded to $6,087,615 compared to $1,195,323 in the prior year. The company has engaged FreeMind Group for funding opportunities and initiated Phase II studies for its ADHD medication.

WallachBeth Capital announced the completion of a registered direct offering for ABVC BioPharma (Nasdaq: ABVC) on May 16, 2022. The offering involved 2,000,000 shares of common stock at a price of $2.11 per share, generating total gross proceeds of $4.22 million. Additionally, investors received warrants to purchase 2,000,000 shares at an exercise price of $2.45 per share, expiring in five years. Co-placement agents were WallachBeth Capital and Viewtrade Securities.

ABVC BioPharma (NASDAQ: ABVC) has engaged FreeMind Group to identify non-dilutive funding opportunities, including grants from organizations like NIH and DOD. The collaboration aims to secure funding for three clinical projects: a Phase II study for pancreatic cancer, another for major depression in cancer patients, and a preclinical program for pancreatic enzyme replacement therapy. Dr. Howard Doong expressed optimism that this partnership could accelerate the development of promising oncology medicines, particularly those derived from maitake mushrooms.

WallachBeth Capital LLC has announced that ABVC BioPharma (Nasdaq: ABVC) will sell 2,000,000 shares at $2.11 each, alongside warrants to purchase an additional 2,000,000 shares at an exercise price of $2.45. The offering is expected to generate approximately $4.22 million before fees, targeted for working capital. The closing is anticipated on or around May 16, 2022, pending customary conditions. The offering is conducted under a shelf registration statute, with all documents available through the SEC and WallachBeth Capital.

ABVC BioPharma (NASDAQ: ABVC) has entered into securities purchase agreements with institutional investors to issue 2 million shares of common stock and warrants to purchase an additional 2 million shares. The purchase price is set at $2.11 per share, with warrants exercisable at $2.45, expiring in five years. The company expects to raise approximately $4.22 million, which will be used for working capital. The offering is being facilitated by WallachBeth Capital and ViewTrade Securities, and will close around May 16, 2022, pending customary conditions.

ABVC Biopharma, a clinical-stage biopharmaceutical company, announced the initiation of treatment for the first subject in the Phase II part 2 clinical study of its ADHD medication, ABV-1505, at Cheng Hsin General Hospital. This trial involves approximately 100 patients across the U.S. and Taiwan and is a continuation of Phase II part 1, which received FDA acceptance in October 2020. The ADHD drug market, valued at USD 16.4 billion in 2018, is projected to reach USD 24.9 billion by 2025.