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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 Inc. (Nasdaq: JAN) has sold the majority of its subsidiary, GeoTraq Inc., to SPYR Technologies Inc. for $13.5 million. The transaction involves cash and 30 million shares of SPYR's common stock. CEO Tony Isaac emphasized that this sale enables JanOne to concentrate on its primary business of developing non-addictive pain-relief drugs, particularly JAN101, aimed at treating peripheral artery disease (PAD). The sale is expected to assist in funding necessary clinical trials for JAN101.
JanOne Inc. (Nasdaq: JAN) is advancing research on treatments for methamphetamine use disorder through a novel strategy involving the Translocator Protein 18 kDa (TSPO). Despite a decline in meth use among younger individuals, usage has surged by 13% annually in those over 26, leading to over 150,000 new users each year. The overdose death rate has increased by 300% in the last decade. With a market projected at $500M and no FDA-approved drugs for treatment, JanOne's initiatives could significantly impact the opioid crisis, as over 40% of meth users also abuse opioids.
ARCA Recycling, a subsidiary of JanOne (NASDAQ: JAN), secured a $1.6 million contract for appliance recycling services in Virginia and North Carolina. This program aims to retire low-efficiency refrigerators and freezers and will continue until 2023. ARCA will recycle the collected appliances at its Northeastern U.S. centers, adhering to EPA guidelines. As the largest implementer of appliance recycling initiatives in North America, ARCA operates over 100 programs.
JanOne Inc. (NASDAQ: JAN) announced an option agreement with LSU Health Shreveport for a novel strategy to combat methamphetamine use disorder (MUD) by activating the Translocator Protein 18 kDa (TSPO). This agreement allows JanOne to explore new drug compounds targeting TSPO, aiming to reduce cravings for meth. The company's drug discovery program is set to begin in 2022, with a preclinical candidate expected in 2023. JanOne also plans to initiate a Phase 2b trial for its pain treatment drug, JAN101, by late 2022.
ARCA Recycling, a subsidiary of JanOne (NASDAQ: JAN), has launched two new appliance recycling programs in Northern California aimed at reducing greenhouse gas and ozone-depleting emissions. These initiatives are expected to recycle 10,000 appliances, diverting over 1.2 million lbs. of recyclable materials and preventing the release of over 1,000 ODP-weighted kg. of harmful substances. The recycling process adheres to U.S. EPA standards, ensuring the safe removal of hazardous materials.
ARCA Recycling, a subsidiary of JanOne (NASDAQ: JAN), has experienced significant growth in its appliance replacement programs, securing contracts worth over $3 million this year. These contracts could boost revenue to approximately $20 million in 2021. The programs aim to replace inefficient appliances with ENERGY STAR®-certified models for income-qualified customers across multiple states. Operating over 40 programs and replacing around 30,000 appliances annually, ARCA is focused on reducing energy costs and greenhouse gas emissions in disadvantaged communities.
ARCA Recycling, a subsidiary of JanOne (NASDAQ: JAN), has launched a new recycling facility in Grand Rapids, Michigan. This expansion is driven by recent contracts with major Michigan electric utilities for appliance recycling, aiming to process 70,000 appliances by the end of 2022, generating $2 to $3 million in revenue. All operations comply with EPA guidelines. As the largest appliance recycling program implementer in North America, ARCA Recycling is actively pursuing additional contracts in the region.
ARCA Recycling, a subsidiary of JanOne (NASDAQ: JAN), has secured multiple contracts to operate appliance recycling programs in Pennsylvania through 2026. The contracts are valued at approximately $20 million and aim to recycle over 30,000 refrigerators and freezers annually. ARCA currently operates three recycling centers in the state, located in Pittsburgh, Philadelphia, and Mechanicsburg. JanOne focuses on developing non-addictive pain treatments and is preparing for Phase 2b trials of its lead candidate, JAN101, for peripheral artery disease.
ARCA Recycling, a subsidiary of JanOne, has opened a new appliance recycling center in Pennsauken, New Jersey. This center will process appliances from new programs with electric utilities, aiming to recycle approximately 17,000 refrigerators and freezers annually. The initiative supports energy efficiency programs and is expected to divert over 800 tons of materials from landfills while minimizing ozone-depleting emissions. ARCA Recycling is the largest executor of appliance recycling services in North America, operating more than 90 utility-sponsored programs.
JanOne Inc. (Nasdaq: JAN) has revised its development strategy for its lead drug candidate, JAN101, after receiving feedback from the FDA regarding its Phase 2b clinical trial for treating Peripheral Artery Disease (PAD). Previous studies showed improved vascular function and reduced pain in patients, prompting the development of clinical protocols for the upcoming trial. The FDA's recommendations are expected to enhance the study's effectiveness, with the goal of reducing reliance on opioids for PAD pain management, which affects over 8.5 million Americans.
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