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ImmunoPrecise Antibodies Ltd. (IPATF) has provided an update on its NSERC-funded partnership with the University of Victoria to develop a real-time mobile-based COVID-19 antibody diagnostic test. The test, designed for saliva samples, utilizes a colorimetric mechanism detectable via a smartphone camera. A prototype has shown a successful color change indicating the presence of SARS-CoV-2 antibodies. Upon commercialization, ImmunoPrecise will pay 5% of global net revenue to the University. The company's B cell Select™ platform leverages rabbit monoclonal antibodies to enhance diagnostic precision.
ImmunoPrecise Antibodies Ltd. (TSXV: IPA, OTCQB: IPATF) reported Q1 fiscal 2021 revenues of $3.8 million, a 39% increase from $2.7 million in Q1 2020. Gross profit rose to 64% of revenue, marking a significant improvement from 51% a year prior. Adjusted EBITDA turned positive at $932,000, up from a loss of $481,000 in the previous year. The company also maintained $6.0 million in cash and raised $9.7 million through warrant exercises after the quarter. Despite these positive metrics, a net loss of $549,318 was recorded, albeit improved from last year’s $2.0 million loss.
ImmunoPrecise Antibodies Ltd. (IPATF) announced that CEO Dr. Jennifer Bath will appear on Bloomberg Technology on Sept. 28, 2020, to discuss the company's anti-COVID-19 initiatives, including its innovative Polytope™ Therapy and Vaccines. IPA claims to have developed the world's most comprehensive antibody cocktail program aimed at providing long-lasting protection against COVID-19 and its mutations. The company leverages advanced technologies to support therapy development efficiently.
ImmunoPrecise Antibodies Ltd. (OTCQB: IPATF) announced on September 25, 2020 the initiation of pre-clinical vaccine trials against SARS-CoV-2, in collaboration with LiteVax BV. The vaccine candidates are formulated using data from IPA's therapeutic programs, focusing on safety and efficacy. The study, conducted at IRTA in Spain, aims to assess a single-low-dose administration. Results are expected by November 2020. The research is supported by the EU's TRANSVAC2 project, which aims to enhance vaccine research.
ImmunoPrecise Antibodies Ltd. (OTCQB: IPATF) announced a significant investment in its B-Cell Select™ platform through its subsidiary, IPA Europe. This investment involves automation and innovation at their research division in The Netherlands, aimed at accelerating the identification of diverse therapeutic antibodies. The platform integrates with IPA's antibody development workflow and can efficiently select clones from various antibody sources. The launch of the second-generation B Cell Select platform will be showcased in a webinar on September 23, 2020.
ImmunoPrecise Antibodies (IPATF) has announced a research collaboration with Zymeworks Inc. to enhance its COVID-19 antibody candidates. This agreement allows ImmunoPrecise to utilize Zymeworks' innovative Azymetric™ and EFECT™ platforms to develop bispecific and multispecific antibodies targeting SARS-CoV-2. The pre-clinical studies, utilizing spike proteins provided by the National Research Council Canada, will not disrupt ongoing research on traditional antibody formats. Both companies aim to leverage their expertise to create effective therapies for COVID-19.
ImmunoPrecise Antibodies Ltd. (OTCQB: IPATF) has initiated the application process to dual list on the NASDAQ Capital Market. This strategic move aims to enhance visibility and attract a broader base of retail and institutional investors. The company believes it meets the necessary requirements for NASDAQ and anticipates that this listing will increase shareholder liquidity, broaden its shareholder base, and provide greater access to key indexes and ETFs. ImmunoPrecise is actively advancing its therapeutic pipeline, including upcoming milestones in its COVID-19 programs.
ImmunoPrecise Antibodies Ltd. (OTCQB: IPATF) will present at the H.C. Wainwright Annual Global Investment Conference from September 14-16, 2020. CEO Jennifer Bath will give an overview of the company's business on September 15 at 12:30 PM (EDT) and will be available for one-on-one meetings with institutional investors. The conference will be held virtually, allowing registered participants to engage directly with the company's leadership.
ImmunoPrecise Antibodies Ltd. (OTCQB:IPATF) announced that CEO Jennifer Bath will present at the LD 500 investor conference on September 4, 2020, at 1:00 PM EST. She will also hold one-on-one meetings with investors on September 2 and September 4. The company, a leader in the $40B therapeutic discovery market, aims to share updates on its COVID-19 research and expanding pipeline. The conference runs from September 1-4, offering an accessible platform for investors. For more information, visit the provided links.
ImmunoPrecise Antibodies Ltd. (TSXV: IPA, OTCQB: IPATF) reported record revenue of $14,057,927 for fiscal year 2020, a 29% increase from the previous year. The net loss improved by $2,670,041, totaling $4,947,426. The gross profit rose 52% to $8,033,984. Notable advancements include the development of COVID-19 antibodies achieving nearly complete neutralization of SARS-CoV-2 and collaborations with various organizations. The revenue outlook for Q1 2021 remains positive.
