Kane Biotech Inc - KNBIF STOCK NEWS

Kane Biotech Inc. announces that STEM Animal Health Inc. has received the Veterinary Oral Health Council (VOHC) Seal of Acceptance for its pet oral care water additive, which helps control tartar. This certification will trigger approximately $1.3 million in milestone payments from STEM's licensing partners and is expected to boost royalty revenues. The global pet oral care market is estimated to be underdeveloped but poised for growth, with a projected value of $24.5 billion by 2027. Kane holds a significant equity interest in STEM, enhancing its position in the animal health sector.

Kane Biotech Inc. has appointed Gregory Schultz, PhD, as its new Chief Scientific Officer. Dr. Schultz is renowned for his expertise in biofilms and wound care. His leadership is anticipated to enhance the development of Kane's technologies, including DispersinB^® and coactiv+™, aimed at combating biofilm-related infections. Outgoing CSO Gordon Guay will remain involved as Chairman of the Scientific Advisory Board, ensuring continuity in the company’s operations. The company's strategy focuses on addressing critical healthcare challenges linked to biofilms.

Kane Biotech reported a total revenue increase of 60% for Q4 2021, reaching $411,693, driven by enhanced pet retail sales. Gross profit rose 82% to $187,315. However, operating expenses increased 28% to $1,490,686, primarily due to R&D for the DispersinB® program. The Q4 loss was $(1,257,173), up from $(945,795) in Q4 2020. For the full year, total revenue grew 20% to $1,607,775, with a net loss of $(4,849,912), reflecting a 26% increase in losses compared to 2020. Kane Biotech is focused on growth in animal health and dermatology.

Kane Biotech (TSX-V:KNE; OTCQB:KNBIF) announced promising results from pre-clinical studies of DispersinB® wound gel, which demonstrated safety and efficacy in accelerating the healing of dermal wounds. The product has shown significant potential against biofilm-mediated antimicrobial resistance that hampers wound recovery. With $2.7 million in funding from the U.S. Department of Defense for clinical trials, Kane aims to address chronic wounds that pose serious health risks. The gel is formulated to disrupt biofilm structure, promoting a moist healing environment.

Kane Biotech has entered into collaborations with Dr. James Doub and the University of Texas Medical Branch to investigate the application of DispersinB® for treating Prosthetic Joint Infections (PJI). Supported by funding from the National Institutes of Health (NIH), the research aims to address crucial challenges in treating PJIs, which affect 1-2% of prostheses and are projected to cost the U.S. healthcare system $1.62 billion in 2020 alone. CEO Marc Edwards emphasized the importance of these collaborations for advancing treatment strategies, highlighting the distinct advantages of DispersinB®.

Kane Biotech announces a new video blog series aimed at enhancing investor communication, a part of their 2022 commitment. CEO Marc Edwards emphasized the company's 20-year expertise in biofilm research, positioning it favorably in the wound care market, with significant opportunities for commercialization. Key milestones to watch include the start of human clinical trials for DispersinB^® wound gel in Q2 2022, the anticipated launch of coactiv+™ wound gel, and the establishment of a commercial partnership to boost market access.

Kane Biotech reported third quarter 2021 financial results with revenue of $438,016, a 53% increase from $286,934 in Q3 2020, driven by new major pet retail customer sales. License revenue soared 114% compared to the previous year. However, total operating expenses rose 38% to $1,721,305, leading to a net loss of ($1,582,959), up 53% from the prior year. As of September 30, 2021, cash reserves were $1,292,623, reflecting growth from $1,007,923 at year-end 2020.

Kane Biotech Inc. (OTCQB: KNBIF) will announce its third quarter 2021 financial results on November 16, 2021, after market close. The conference call to discuss the results and business developments will occur at 4:30 p.m. ET. Kane Biotech focuses on research and commercialization of technologies to combat microbial biofilms and holds 52 patents, as well as trademarks for several products. Investors can access the call via telephone or webcast, with the details provided in the press release.