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JanOne Inc. (Nasdaq: JAN) is a pioneering clinical-stage pharmaceutical and biopharmaceutical company headquartered in Las Vegas, Nevada. Since its inception in 1976, JanOne has been committed to developing innovative, non-addictive pain relief therapies to address severe pain conditions and ultimately reduce dependency on opioid prescriptions. Through its lead candidate Jan101, a slow-release formulation of sodium nitrite, the company targets the treatment of Peripheral Artery Disease (PAD). Another promising drug, Jan123, focuses on treating Complex Regional Pain Syndrome (CRPS), a debilitating orphan disease lacking FDA-approved treatments.
The company's mission is significantly impactful in light of the ongoing opioid crisis, one of the deadliest epidemics in U.S. history. JanOne’s unique approach targets the root causes of pain, providing non-opioid alternatives that could potentially mitigate the risks associated with opioid abuse.
In recent developments, JanOne has filed an international patent application for low dose naltrexone to treat chronic pain, which could bolster its intellectual property portfolio and help patients worldwide. The company has also made significant strides in the fintech sector by acquiring ALT 5 Sigma Inc., a blockchain financial technology provider, diversifying its operations into the digital asset market.
JanOne operates through two main segments: Biotechnology and fintech (through its subsidiary ALT 5). ALT 5 offers innovative blockchain-powered technologies like ALT 5 Pay and ALT 5 Prime, facilitating crypto-currency payments and electronic over-the-counter trading of digital assets.
JanOne has received accolades for its research, such as the
JanOne (Nasdaq: JAN), a biopharmaceutical company focused on non-addicting pain treatments, has entered a definitive securities purchase agreement to sell 361,000 common shares at $1.17 each in a registered direct offering. The anticipated gross proceeds are approximately $422,000, expected to close around March 24, 2023. Funds will support working capital and corporate purposes. The offering falls under a "shelf" registration statement effective since December 29, 2020. H.C. Wainwright & Co. is the exclusive placement agent.
On March 9, 2023, JanOne (NASDAQ: JAN) entered a Stock Purchase Agreement with VM7, resulting in the sale of its subsidiaries, ARCA Recycling, Customer Connexx LLC, and ARCA Canada Inc. This transaction reduced JanOne's liabilities by
JanOne (NASDAQ: JAN) is set to showcase its research at the upcoming ASIPP annual meeting in March 2023. The company will present findings from the Phase IIa trial of JAN 101 for painful diabetic peripheral neuropathy and data from in vitro studies of JAN 123, a low-dose naltrexone for complex regional pain syndrome. Notably, JAN 123 has been selected as a finalist for the Society's 'Best Research Abstract of the Year'. Dr. Amol Soin emphasized the honor of being recognized for their innovative approach to pain treatment, aiming to help patients avoid addictive opioids.
JanOne (NASDAQ: JAN) held strategic meetings at Nasdaq MarketSite to review its drug development programs targeting the opioid crisis with non-addictive pain relief solutions. Two late-stage clinical programs include JAN 123, for complex regional pain syndrome, and JAN 101, for peripheral artery disease, both nearing FDA trials. The company's efforts are underscored by the pressing need for alternatives given the CDC's report of over 110,000 overdose deaths linked to opioids. Integration of Soin Therapeutics aims to enhance development capabilities, with leadership from Dr. Amol Soin, inventor of JAN 123, emphasizing a commitment to safer pain management solutions.
JanOne Inc. (Nasdaq: JAN) has announced its acquisition of Soin Therapeutics LLC, valued at $13 million, with an additional $17 million contingent on revenue from a new product named Jan123. This product, a low dose naltrexone formulation, aims to treat Complex Regional Pain Syndrome (CRPS), a chronic pain condition without effective treatments. JanOne plans to advance Jan123 into clinical trials in 2023. This acquisition adds a significant clinical asset to JanOne's portfolio, complementing its existing product, JAN101, for Peripheral Artery Disease.
ARCA Recycling, a subsidiary of JanOne, has unveiled a new logo and website to reflect its commitment to innovative and environmentally responsible services. In the past year, ARCA recycled over 140,000 appliances, reducing carbon emissions by 136,600 metric tons. The new website features enhanced functionality for better user experience. ARCA aims to diversify its customer base while maintaining its core mission of energy efficiency and environmental protection. The branding update aligns with ARCA's expansion of appliance recycling services and underscores its dedication to a sustainable future.
JanOne Inc. (Nasdaq: JAN) announced an improved formulation of JAN101, developed by Dr. Maureen Donovan at the University of Iowa. This drug targets peripheral artery disease (PAD), affecting over 8.5 million in the U.S. Successful clinical trials demonstrated pain reduction and nerve function improvement. The new formulation aims to further enhance these benefits and will be used in upcoming pivotal clinical trials, with manufacturing by CoreRx set to begin soon.
ARCA Recycling, Inc., a subsidiary of JanOne, has announced the opening of three new recycling centers in Kent, Washington; Tulare, California; and Hainesport, New Jersey. These centers aim to enhance ARCA's recycling operations and customer service across North America. The Hainesport facility will feature advanced appliance processing technology for efficient material compaction, reducing transportation costs and carbon footprint. This expansion will also generate local jobs and support various recycling programs for both residential and commercial clients.
JanOne Inc. (Nasdaq: JAN) announced the issuance of U.S. Patent 11,247,902 B2 for a method to enhance nerve function using JAN101, a potential treatment for peripheral artery disease (PAD) affecting millions. This patent strengthens JanOne's position in the market by allowing JAN101 to address nerve damage from microvascular disease, a significant complication of PAD. The patent is exclusively licensed to JanOne and was co-discovered by leading researchers. The company continues to pursue innovations aimed at combating pain without addiction.
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