Welcome to our dedicated page for Kane Biotech news (Ticker: KNBIF), a resource for investors and traders seeking the latest updates and insights on Kane Biotech stock.
Kane Biotech Inc. (KNBIF) is a leader in biofilm-disrupting technologies for advanced wound and scalp care. This page aggregates all official company announcements, providing stakeholders with timely updates on regulatory progress, product developments, and strategic initiatives.
Investors and industry professionals will find comprehensive coverage of FDA clearances, manufacturing partnerships, and global licensing agreements. Our curated news stream includes earnings reports, clinical advancements, and distribution expansions, ensuring you never miss critical developments affecting KNBIF's market position.
Key focus areas include updates about antimicrobial wound care solutions, scalp health innovations, and quality certifications like ISO 13485:2016. Bookmark this page for direct access to primary-source information about Kane Biotech's progress in combating biofilm-related health challenges worldwide.
Kane Biotech Inc. announced the approval of key compensation plans at its shareholder meeting on May 26, 2021. The Performance and Restricted Share Unit Plan (PRSU Plan) allows for the issuance of restricted and performance share units to employees and directors, with a cap of 10% of total outstanding shares. Additionally, the Amended and Restated Stock Option Plan reserves a maximum of 10% of common shares for stock options, removing previous aggregation requirements with other share plans. Details are available on SEDAR.
Kane Biotech reported first quarter 2021 financial results, with revenue from product sales at $254,448, down 4% from 2020 due to COVID-related shutdowns. However, sales to other pet retailers increased by approximately 27%. Total revenue grew by 58% compared to the previous quarter. Gross profit decreased 7% to $165,876, while operating expenses dropped 29% to $1,149,611. The company saw a net loss of ($1,010,892), a 26% improvement year-over-year. CEO Marc Edwards expressed optimism about future growth opportunities and partnerships.
Kane Biotech Inc. will release its Q1 2021 financial results on May 27, 2021. A conference call is scheduled for 4:30 p.m. ET to discuss the results and business developments. The company specializes in technologies to prevent and remove microbial biofilms, holding a portfolio of 53 patents and various trademarks. Kane Biotech is listed on TSX-V under the symbol KNE and on OTCQB under KNBIF. Risks include financial instability, reliance on equity financing, and potential impacts from COVID-19.
Kane Biotech Inc. has announced positive results from a significant consumer trial of its DermaKB™ products, conducted from November 2020 to January 2021. Of over 4,500 participants, 1,402 completed questionnaires, revealing that 82% saw symptom improvement after using Detoxifier and Shampoo, with an average 33% reduction in symptom severity from just a 3 oz. sample. Remarkably, 63% of users preferred DermaKB™ over their previous leading dandruff shampoo. This trial highlights the market need for these products, suggesting strong consumer interest and potential growth for the company.
Kane Biotech Inc. (OTCQB: KNBIF) announced the engagement of Dr. Allan Mandelzys as an advisor to its Board of Directors, with a nomination for board directorship at the upcoming Annual and Special Meeting on May 26, 2021. Dr. Mandelzys brings extensive experience in the biotechnology sector, having held key roles in various companies, including Searchlight Pharma and Matrizyme Pharma. His expertise is expected to enhance Kane's strategic growth, especially in addressing challenges like microbial biofilms and antibiotic resistance.
Kane Biotech Inc. (OTCQB:KNBIF) will release its fourth quarter and full year 2020 financial results on March 25, 2021, after market close. The management team will hold a conference call at 4:30 p.m. ET to discuss these results and business developments. The call can be accessed at 1-877-268-9044 (Canada) or 1-706-679-2995 (International), with replay available at 1-404-537-3406. Kane Biotech specializes in biotechnology focused on microbial biofilm solutions and holds a substantial portfolio of intellectual property.
Kane Biotech Inc. (OTCQB: KNBIF) announced that CEO Marc Edwards will present at the Emerging Growth Virtual Conference on March 17-18, 2021. The event will feature discussions and presentations from various leaders in the Biotech and Healthcare sectors. Edwards expressed excitement about sharing the company's growth story, highlighting successes in commercializing products across three markets and securing government funding. Kane Biotech specializes in technologies that prevent and remove microbial biofilms, holding a robust portfolio of intellectual property.
Kane Biotech Inc. (OTCQB: KNBIF) announced that preliminary analysis of efficacy trials for STEM Animal Health's pet oral care additive has successfully met its primary endpoint. This achievement opens the door for two milestone payments from STEM's licensing partners, contingent on positive clinical efficacy data. STEM's products utilize Kane’s patented Coactiv+™ technology aimed at combating plaque and tartar biofilm in pets. The collaboration between Kane and Animalcare Group focuses on advancing biofilm-related treatments in animals.
Kane Biotech Inc. (OTCQB:KNBIF) announced leadership changes, with Mark Nawacki becoming Chairman of the Board, while Philip Renaud transitions to Vice Chair. Renaud, the outgoing Chairman, emphasized the need for experienced leadership as the company approaches crucial advancements in Wound Care. Nawacki, with a background in pharmaceutical commercialization, expressed gratitude to Renaud and committed to guiding Kane Biotech's growth. The company specializes in technologies that combat microbial biofilms and holds 52 patents, indicating its strong research foundation.
Kane Biotech Inc. announces that Kevin Cole will be the new President and CEO of STEM Animal Health Inc., its subsidiary formed through a joint venture with Animalcare Group PLC. Cole has extensive experience in the pet care industry, previously serving as President of True Leaf Pet. His focus will be on expanding STEM's reach in the $150 billion global pet care market, intent on leveraging the company's innovative biofilm-targeting technology. Additionally, a new Board of Directors has been established to support STEM, with Kane Biotech’s CEO Marc Edwards as Chairman.
