Burcon Nutrascience Corp Stock Price, News & Analysis

Burcon NutraScience has formed an alliance with a strategic investor group to acquire and operate a commercial protein production facility. The investor group, led by a Burcon board member, will fund the acquisition while Burcon will operate the facility. The acquisition is expected to close in Q1 2025, with production starting in H1 2025.

This strategic move will enable Burcon to launch its entire portfolio of plant-based protein ingredients. The company has built a pipeline of over 80 prospective customers evaluating its protein ingredients, with several in late-stage product trials for hemp and canola proteins. The facility acquisition aims to accelerate new protein launches and increase market share in the protein ingredient market.

Burcon NutraScience reported fiscal Q2 2024 results with revenues of $40,000, compared to $184,000 in the same period last year. The company posted a net loss of $2.4 million ($0.02 per share), versus $1.4 million ($0.01 per share) year-over-year. Key operational highlights include first commercial production of canola protein isolate and building a pipeline of over 80 prospective customers. R&D expenses increased to $1.3 million from $0.9 million, while cash balance stood at $1.0 million as of September 30, 2024, down from $4.2 million at March 31, 2024.

Burcon NutraScience (TSX: BU) (OTCQB: BRCNF), a plant-based protein technology company, announces a virtual investor presentation scheduled for November 20, 2024, at 5:00 p.m. Eastern time. The presentation will replace the previously announced Fiscal 2025 Q2 Conference Call. Management will discuss the company's capital-light business strategy, commercial production, customer demand, and provide a technology commercialization update and financial outlook. The event will include a Q&A session, and financial results for Fiscal 2025 Q2 will be released on November 14, 2024.

Burcon NutraScience has successfully completed a process scale-up project for a new contract research customer. The project involved multiple pilot-scale extractions using commercial equipment to validate and scale up the manufacturing process, producing representative samples of food ingredients for evaluation. This achievement demonstrates Burcon's technical expertise in processing solutions and aligns with their strategy of supporting food innovators through contract services, utilizing available capacity at their pilot facility.

Burcon NutraScience (TSX: BU) (OTCQB: BRCNF), a plant-based protein technology company, has scheduled its fiscal 2025 second quarter financial results conference call for November 13, 2024, at 5:00 p.m. Eastern time. CEO Kip Underwood highlighted the quarter's significant progress in their go-to-market strategy, emphasizing their commitment to a capital-light business plan focused on production ramp-up, new product line launches, and recurring sales growth. The financial results will be released via press release before the call, which will be accessible through both toll-free and international dial-in numbers.

Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) and HPS Food and Ingredients Inc. will be showcasing their high-purity 95% hempseed protein isolate at the upcoming SupplySide West show in Las Vegas, NV, from October 30th - 31st. The companies aim to highlight the taste, color, and functional benefits of this new-to-the-world protein ingredient.

Kip Underwood, Burcon's CEO, emphasized that their hempseed protein outperforms competing products and enables the creation of clean-label, sustainable, and delicious food and beverage products. Burcon and HPS report building a strong customer funnel for the isolate, which has received positive feedback. Commercial samples are available, and interested parties can visit HPS at Booth #1841 during the show or contact their sales team directly for more information.

Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) has launched its Puratein® canola protein for the egg replacement market. This product offers food manufacturers a sustainable and cost-effective alternative to eggs, particularly for use in baked goods. The launch comes amid surging egg prices due to supply challenges and avian influenza outbreaks.

Burcon's canola protein isolate, with over 90% protein purity, has demonstrated the ability to replace up to 100% of powdered and shelled eggs, delivering cost-in-use savings of 20-30%. The product not only provides superior functionality and price stability but also offers a vegan-friendly option for consumers. This development opens up new possibilities for creating superior, more sustainable plant-based alternatives in the food industry.

Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) has successfully completed the process validation phase of a contract research project for a leading industry peer. This achievement showcases Burcon's technical capabilities and expertise in plant-based proteins. The project, which involved validating a food ingredient process, is now ready for scale-up.

Kip Underwood, Burcon's CEO, emphasized that collaboration is part of their market engagement strategy and creates new business opportunities. Randy Willardsen, Senior VP of Process, expressed readiness for further collaborations in the plant-based protein market.

Burcon continues to leverage its expertise through contract services, with additional projects in the pipeline. The company offers innovative processing solutions to companies looking to innovate and scale in the alternative protein market.

Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) held its 2024 annual general and special meeting on September 18, 2024. All eight nominees proposed for the board of directors were elected. Shareholders approved the appointment of KPMG LLP as auditors, the warrants issued to John A. Vassallo, and authorized the board to effect a potential share consolidation.

James Pekar, with over 30 years of experience in the dairy and food industry, was elected as a new director. Pekar founded First Choice Ingredients, which he sold to DSM for US$460 million in 2021. He currently holds approximately 2.2% of Burcon's outstanding common shares. Dr. Lorne Tyrrell retired from the board and did not stand for re-election.