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Kane Biotech Inc. (KNBIF) is a biotechnology company dedicated to researching, developing, and commercializing technologies and products that prevent and eliminate microbial biofilms. With a robust portfolio of intellectual property and products like StrixNB™, DispersinB®, Aledex™, coactiv+™, DermaKB™, and revyve™, the company is at the forefront of biofilm research. Recently, Kane Biotech announced the sale of its interest in STEM Animal Health, entered new licensing and distribution agreements, and received US FDA clearance for its revyve™ Antimicrobial Wound Gel. The company is listed on the TSX Venture Exchange under the symbol 'KNE' and on the OTCQB Venture Market under the symbol 'KNBIF'.
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.
Kane Biotech Inc. (OTCQB: KNBIF) announced a new credit agreement with Pivot Financial, increasing its credit facility from $1.48 million to $2.5 million. The funds will support research and development, cover expenses related to STEM Animal Health Inc., and provide working capital. CFO Ray Dupuis emphasized that this facility enhances the company's liquidity during ongoing partnership discussions. Pivot Financial's President, Dan Flaro, noted the improved terms, which facilitate the commercialization of Kane Biotech's intellectual property, comprising 52 patents and trademarks.
Kane Biotech Inc. has announced the shipment of its first order of bluestem™ oral care products to PetSmart Canada. These products will be available in all 150 PetSmart stores and online, aimed at improving pet oral health by combating harmful biofilms like plaque and tartar.
Developed by STEM Animal Health Inc., a joint venture between Kane Biotech and Animalcare Group PLC, bluestem™ utilizes coactiv+™ technology to effectively reduce tartar without harsh chemicals. Kane Biotech is traded under the symbols KNE on TSX and KNBIF on OTCQB.
Kane Biotech (KNBIF) reported its Q2 2021 results, showcasing a revenue increase to $278,741, up from $267,493 in Q2 2020. However, gross profit fell to $83,584 compared to $115,570 in the previous year, while operating expenses surged to $1,090,396 from $711,448. This led to a loss from operations of ($1,006,812), compared to ($595,878) in Q2 2020. The CEO expressed optimism about growth in animal health, OTC/dermatology, and wound care, and highlighted recent patent grants and new partnerships. The company has also raised $1,116,000 in warrant exercises this year.
Kane Biotech is set to announce its Q2 2021 financial results on August 26, 2021, after market close. A conference call will be held at 4:30 p.m. ET to discuss these results and recent business developments. The company focuses on technologies aimed at preventing and removing microbial biofilms and boasts a solid portfolio with 54 patents. Kane Biotech operates under the stock symbols KNE on TSX Venture and KNBIF on OTCQB.
Kane Biotech has received two Decisions to Grant from the European Patent Office for its coactiv+™ technology, enhancing patent coverage for its wound and skin infection treatments. The granted patents cover proprietary formulations, expanding the scope and term of protection significantly. CEO Marc Edwards emphasized the technology's versatility across various applications, including personal care and wound healing. The coactiv+™ technology destabilizes biofilms to promote healing and is recognized as safe by the FDA, positioning Kane for commercialization opportunities.
Kane Biotech Inc. is expanding its wound care portfolio with a new antimicrobial hydrogel utilizing its coactiv+™ technology, aiming for quicker market access via the 510(k) regulatory pathway. The US market for wound care hydrogels is estimated at US$200M. This initiative aligns with Kane's strategy to leverage its biofilm research and intellectual property for developing treatments for biofilm-related infections.
Laboratory tests suggest coactiv+™ effectively inhibits bacterial biofilm formation, making it a promising addition to wound healing products.
Kane Biotech has announced the cancellation of 8,470,555 stock options held by directors, officers, and employees, while simultaneously issuing 10,739,488 restricted share units (RSUs). These RSUs can be converted into common shares over a ten-year period following their grant. This action is part of the company's performance and restricted share unit plan dated April 21, 2021. Kane Biotech focuses on developing technologies to combat microbial biofilms and holds 54 patents and pending patents.
Kane Biotech Inc. has developed a new stable topical hydrogel formulation of DispersinB® for wound care, marking a significant milestone in its product development. The company partnered with Dow Development Laboratories for clinical manufacturing, planning a randomized study in 2022 to assess safety and efficacy on chronic wounds. This initiative is backed by financial support from Western Economic Diversification Canada and MTEC. DispersinB® targets biofilm, a major barrier to wound healing, potentially revolutionizing treatment for resistant infections.
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