Welcome to our dedicated page for Ainos news (Ticker: AIMD), a resource for investors and traders seeking the latest updates and insights on Ainos stock.
Ainos, Inc. (NASDAQ: AIMD) is a diversified healthcare company headquartered in San Diego, California, specializing in developing innovative medical technologies for point-of-care testing (POCT), low-dose interferon therapeutics, and synthetic RNA-driven preventative medicine. The company's flagship product is VELDONA®, a low-dose oral interferon-alpha formulation aimed at enhancing immune responses against a range of diseases. Ainos' VELDONA® has shown promise in treating human disease indications such as influenza, hepatitis C, thrombocytopenia, as well as HIV-related oral warts and Behçet's disease, both of which have received Orphan Drug Designation by the U.S. FDA.
Ainos recently announced the completion of manufacturing a GMP Clinical Batch of VELDONA® in collaboration with its contract manufacturer, Swiss Pharmaceutical Co., Ltd. (Taiwan). This milestone validates Ainos' capabilities in delivering high-quality, cost-effective therapeutics and advances the company's key programs.
In addition to human therapeutics, Ainos is making strides in animal health. The company has initiated clinical trials for a new VELDONA®-based drug aimed at treating feline chronic gingivostomatitis, a serious and chronic painful oral disease. This study builds upon VELDONA®'s extensive history in animal health, demonstrating its therapeutic potential across various animal species.
Ainos is also pioneering AI-powered POCTs through its AI Nose technology platform. The company's lead POCT candidate, Ainos Flora, is designed to be a telehealth-friendly solution for women's health and common sexually transmitted infections (STIs). Furthermore, Ainos has initiated a co-development program with Nisshinbo Micro Devices Inc. and Taiwan Inabata Sangyo Co. to create a volatile organic compound (VOC) sensing platform. This technology aims to revolutionize applications in telehealth, automotive, industrial, and environmental safety, expanding Ainos' market reach.
Financially, Ainos has secured significant growth capital, including a $9 million convertible note from an existing shareholder. This funding will propel the company's initiatives in scaling up VELDONA® and advancing its AI Nose technology.
With nearly four decades of dedication to healthcare innovation, Ainos continues to push the boundaries of medical science, striving to deliver effective, safe, and high-quality treatments for both humans and animals. Investors and stakeholders are encouraged to follow Ainos on social media platforms like X (formerly Twitter) and LinkedIn for the latest updates and developments.
Ainos announced a clinical study for a new VELDONA-based drug aimed at treating feline chronic gingivostomatitis (FCGS). The study will evaluate the efficacy of low-dose oral interferons and is expected to run from May 24, 2024, to March 31, 2025. This initiative follows a Memorandum of Understanding with SIDSCO Biomedical and aims to expand Ainos' presence in the pet care market. VELDONA, initially approved in 1985 for feline leukemia and canine parvovirus, has shown systemic effects in various species, making it a promising candidate for FCGS treatment. The trial will include 30 cats and assess health improvements and potential steroid dosage reductions.
Ainos, a diversified healthcare company, released its Q1 2024 financial results. The company reported a strategic shift from COVID-19 rapid test kits, affecting near-term revenues, with Q1 revenue dropping to $20,729 from $49,164 in Q1 2023. Cost of revenues also decreased to $26,754 from $100,848. Despite this, gross profit improved, narrowing the loss to $6,025 from a $51,684 loss a year ago. Total operating expenses rose to $3.11M, attributed to higher clinical trial fees and research costs. Net loss widened to $3.31M from $2.52M. Recent financing efforts secured $9M in growth capital and an additional $1.75M in January 2024, bolstering Ainos' position for continued growth. CEO Chun-Hsien Tsai emphasized the focus on AI Nose and VELDONA technologies, exploring new markets, and advancing clinical studies.
Ainos, Inc. raises $9 million in growth capital through a convertible note with an existing shareholder. The capital will be used to scale up the company's VELDONA and AI Nose growth initiatives. Ainos aims to advance its AI Nose platform and VELDONA investigational new drugs, propelling the company forward in advancing clinical studies and pursuing out-licensing opportunities.
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