Welcome to our dedicated page for Edesa Biotech news (Ticker: EDSA), a resource for investors and traders seeking the latest updates and insights on Edesa Biotech stock.
Edesa Biotech Inc (NASDAQ: EDSA) is a clinical-stage biopharmaceutical company advancing novel therapies for inflammatory and immune-related diseases. This news hub provides investors and healthcare professionals with timely updates on clinical developments, regulatory milestones, and scientific breakthroughs across its dermatology and respiratory pipelines.
Access authoritative updates on EDSA's monoclonal antibody candidates and topical formulations, including progress in vitiligo treatment and Acute Respiratory Distress Syndrome (ARDS) research. Our curated news collection features verified press releases, trial result announcements, and partnership developments directly from the company.
Key content categories include clinical trial phases, FDA communications, research publications, and strategic collaborations. Bookmark this page for streamlined access to EDSA's progress in developing alternatives to conventional immune therapies. Check regularly for updates on government-funded studies and pipeline advancements that demonstrate the company's commitment to host-directed treatment innovation.
Edesa Biotech (Nasdaq:EDSA) announced a strategic investment agreement with an entity affiliated with its CEO and Founder, Par Nijhawan, MD, for up to $5.0 million, including an immediate investment of $1.5 million. The investment involves purchasing Series A-1 Convertible Preferred Shares at $10,000 per share, convertible into common shares at $3.445, and warrants exercisable for 75% of the convertible common shares. The warrants will expire in five years. The company also terminated a previous $10 million revolving credit agreement with the purchaser, from which no funds were drawn.
Edesa Biotech's drug paridiprubart has been selected by BARDA for a U.S. government-funded Phase 2 clinical trial to treat ARDS. The trial will evaluate the drug's effectiveness in hospitalized patients with ARDS from various causes.
The study is part of Edesa's broader effort to develop host-directed therapeutics for immuno-inflammatory diseases. Paridiprubart aims to modulate the immune system's response to public health threats like pandemics and other emergencies.
A previous Phase 2 trial showed that paridiprubart reduced mortality by 84% among critically ill ARDS patients. An ongoing Phase 3 study in North America is also evaluating the drug for COVID-19 ARDS.
This trial, managed under a BARDA contract with PPD Development, will be double-blinded and placebo-controlled. Edesa will provide the drug and technical support. The data could support further regulatory and commercialization efforts.
Edesa Biotech, Inc. (Nasdaq: EDSA) reported its fiscal 2nd quarter 2024 results, showcasing financial stability and strategic growth initiatives. The company is focused on developing host-directed therapeutics for immuno-inflammatory diseases. Edesa expanded site selection activities for a Phase 3 study of its ARDS drug candidate, EB05, and received up to C$23 million from the Canadian government. The company also plans to evaluate EB05 in a broader ARDS population and file an IND for a Phase 2 study in pulmonary fibrosis. Additionally, Edesa is seeking regulatory approval for a Phase 2 study of its anti-CXCL10 monoclonal antibody in patients with nonsegmental vitiligo. Financially, the company demonstrated operational efficiency, with total operating expenses decreasing, while total other income increased. Edesa reported a net loss of $1.9 million for the quarter and $3.5 million for the six months ended March 31, 2024. With a focus on executing strategic milestones, Edesa aims to enhance its product pipeline and strengthen its position in the market.
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