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 whose news flow centers on the development of host-directed therapeutics for immuno-inflammatory diseases. Company announcements frequently highlight progress in its two main therapeutic areas, Medical Dermatology and Respiratory, giving investors and observers insight into the status of key clinical programs and funding arrangements.
On this page, readers can follow updates on Edesa’s dermatology pipeline, including news about EB06, an anti-CXCL10 monoclonal antibody candidate being developed as a therapy for vitiligo, and EB01 (1.0% daniluromer cream), a Phase 3-ready asset for moderate-to-severe chronic Allergic Contact Dermatitis. Disclosures often cover manufacturing milestones, regulatory interactions and plans for Phase 2 and Phase 3 clinical studies in these indications.
The news feed also captures developments in Edesa’s respiratory portfolio. This includes clinical data and regulatory context for paridiprubart (EB05), a monoclonal antibody being developed for Acute Respiratory Distress Syndrome (ARDS), as well as information on the U.S. government-funded “Just Breathe” platform study and Canadian government funding from the Strategic Innovation Fund. Announcements may detail Phase 3 study outcomes, safety findings, and the company’s exploration of additional uses for paridiprubart in chronic respiratory diseases and pulmonary fibrosis via EB07.
In addition to clinical and scientific news, Edesa’s releases include financial results, equity financings, at-the-market offering updates, and executive or board changes. Visitors can use this page to monitor how Edesa reports on its operating expenses, government contribution agreements, capital raises and conference participation. For those tracking EDSA, the news section provides a centralized view of the company’s disclosed milestones, strategic priorities and regulatory progress over time.
Edesa Biotech (NASDAQ:EDSA) reported fiscal year 2024 results, highlighting a strategic pivot of its anti-TLR4 drug candidate (EB05) to a U.S. government-funded study for ARDS treatment. The company reduced operating expenses by over 20%, with total expenses decreasing to $7.0 million from $9.2 million year-over-year. Research and development expenses fell to $2.9 million from $4.8 million.
The company reported a net loss of $6.2 million ($1.93 per share) compared to $8.4 million ($2.93 per share) in the previous year. As of September 30, 2024, Edesa had $1.0 million in cash and negative working capital of $0.2 million. Post-fiscal year, the company secured $1.5 million from its CEO-affiliated entity and $0.6 million through an at-the-market offering.
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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