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BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) is a pioneering biotechnology company with a focus on Botanical Synthesis. The company leverages its patented technology platform to produce plant-based molecules without the need to grow the underlying plant. BioHarvest is actively engaged in developing science-based and clinically proven therapeutic solutions in nutraceutical health and wellness products, including dietary supplements, and the creation of plant cell-based Active Pharmaceutical Ingredients (APIs) for specific medical indications. With a strong emphasis on innovation and research, BioHarvest aims to revolutionize the health and wellness industry with its cutting-edge products.
BioHarvest Sciences announced record preliminary Q3 2024 financial results with revenue reaching $6.5 million, representing a 100% increase from Q3 2023. The company provided Q4 2024 revenue guidance of at least $7.2 million, projecting 60% year-over-year growth. Q3 gross margins are expected at 53-56% with net losses of $2.5-2.8 million. The company is in final stages of its Nasdaq Global Market uplisting application, targeting completion by year-end. Growth is driven by VINIA subscriptions and new product launches, including a functional VINIA SuperFood Tea line planned for November 2024.
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF), a pioneer in Botanical Synthesis technology, has announced its participation in the LD Micro Main Event XVII Conference on October 30, 2024. CEO Ilan Sobel will host one-on-one meetings with institutional investors and deliver a virtual presentation at 3:00 p.m. Eastern time.
Sobel expressed enthusiasm for the event, highlighting the company's recent Q2 financial results showing steady growth in both their high-margin Products business unit and the newly launched CDMO Services business unit. He also mentioned plans to introduce new products in Q4 2024 and the company's goal of achieving a Nasdaq listing by the end of the year.
Interested parties can join the online presentation via the provided webcast link. For more information or to schedule a meeting with management, contact MZ Group at BHSC@mzgroup.us.
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) has announced the resignation of David Ryan from its Board of Directors. This move is part of the company's efforts to meet Nasdaq requirements for a majority of independent directors, as BioHarvest prepares to apply for listing on the Nasdaq Stock Market.
Despite stepping down from the board, Mr. Ryan will continue to play a important role in the company's management as Vice President of Investor Relations. Board Chair Zaki Rakib expressed gratitude for Ryan's directorship, which has been instrumental in the company's development, and acknowledged his ongoing support and commitment to BioHarvest's mission.
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF), a pioneer in Botanical Synthesis technology, has been invited to present at the iAccess Alpha Buyside Best Ideas Investor Conference on September 24-25, 2024. CEO Ilan Sobel will host virtual one-on-one meetings with institutional investors and deliver a presentation on Tuesday, September 24, 2024, at 1:00 p.m. Eastern time.
The presentation will be accessible via a live audio webcast, with registration required for conference participation. Interested media and investors are encouraged to join the online presentation at least five minutes before the start time. For more information or to schedule a meeting with management, contact MZ Group at BHSC@mzgroup.us.
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF), a pioneer in Botanical Synthesis technology, will participate in the H.C. Wainwright 26th Annual Global Investment Conference on September 9-10, 2024, in New York City. CEO Ilan Sobel will conduct 1-on-1 meetings with institutional investors and deliver a company presentation on Monday, September 9, at 2:30 p.m. Eastern time.
The presentation will be available for live streaming and on-demand viewing via webcast. In-person attendance is by invitation only. Interested parties can contact H.C. Wainwright representatives or email BHSC@mzgroup.us to schedule meetings with BioHarvest management.
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) reported record Q2 2024 financial results, with revenue increasing 119% year-over-year to $6.03 million. Gross margins improved to 52%, up from 40% in the same quarter last year. The company expects Q3 2024 revenues of at least $6.5 million with a gross profit margin of 52%+.
Key highlights include:
- Total VINIA® subscribers increased by 135% compared to Q2 2023
- Set new records for monthly sales orders in May and June 2024
- Completed a $4.3 million private placement in June 2024
- Executed a 35-1 share consolidation to meet Nasdaq listing requirements
The company's growth is driven by strong VINIA® subscription rates and the launch of new 'VINIA® Inside' products. BioHarvest is also making progress in its Contract Development and Manufacturing Organization (CDMO) Services Business Unit.
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) has announced that its VINIA® Superfood Coffee and Decaf Coffee product line has surpassed USD $1.0 million in cumulative sales since its launch in December 2023. The coffee pods, compatible with Keurig® systems, contain the company's flagship VINIA® Red Grape Superfood, which claims to improve physical energy and mental alertness through increased blood flow.
Key highlights include:
- 4.8/5.0 customer rating with over 136 verified reviews
- 59% of coffee drinkers prefer VINIA® Superfood Coffee in blind taste tests
- 68% prefer VINIA® Superfood Decaf over a leading Amazon decaf brand
- Q1 2024 gross profit of US$3.0 million (56% of total Product revenues)
- Plans to launch Nespresso® compatible pods before year-end
The company sees this milestone as validation of its strategy to enter major categories with innovative, functional health and wellness solutions.
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF), a pioneer in Botanical Synthesis technology, has announced a corporate update call scheduled for August 29, 2024, at 2:30 p.m. Eastern Time. CEO Ilan Sobel will discuss:
- Commercial progress and new product marketing initiatives
- Second quarter 2024 financial results
- Third quarter 2024 forecasts
- Update on the company's targeted Nasdaq listing in 2024
The webinar will include a live Q&A session. Sobel expressed enthusiasm about sharing updates on the ongoing 'scale up' of both Products and Services business units, recent commercial performance, new Products pipeline, and the CDMO Services division.
BioHarvest Sciences reported strong Q1 2024 financial results, with revenue increasing by 147% year-over-year to $5.34 million, surpassing previous guidance. Gross margins improved to 56% from 37% the previous year. The company launched a CDMO business unit, signing two significant contracts and securing a new corporate campus. Management forecasts Q2 2024 revenue between $5.7-$6.0 million and expects to achieve EBITDA break-even in the second half of 2024. Net loss widened to $6.6 million, up from $0.8 million the prior year, with cash reserves at $3.4 million as of March 31, 2024.
BioHarvest Sciences Inc. will host a corporate update call on May 2nd to discuss milestone achievements, including full year 2023 financial results and the recent acquisition of an expanded corporate campus. The call will feature CEO Ilan Sobel and Chairman Zaki Rakib, providing comments on financial results, the corporate campus acquisition, and the path towards Nasdaq listing requirements.
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