EV Biologics Briefs Shareholders on Market Cap Peer Comparison

Rhea-AI Summary

EV Biologics Corp (OTC Pink: YECO) has updated shareholders on its market capitalization in comparison to peers, highlighting that its value is less than half that of its closest competitor. The company aims to increase its market cap by 20 times within the next 24 months. In its quarterly report for June 30, 2021, EV Biologics reported $600,000 in cash, recent revenue, and a fully funded $5 million line of credit for biomanufacturing development. The firm plans to up-list to OTCQX by year's end.

Positive

• Company aims for a 20X increase in market cap within 24 months.
• Reported $600,000 in cash and recent revenue in Q2.
• Fully funded with a $5 million line of credit for developing biomanufacturing processes.

Negative

• None.

NASHVILLE, TN / ACCESSWIRE / August 12, 2021 / EV Biologics Corp, OTC Pink:YECO, today briefed shareholders on its current value compared to other public biotechnology companies in its peer group.

Please view the chart at: https://www.evbiologics.com/marketcap/.

CEO Daniel Mckinney commented: 'Our market cap is less than half that of our closest listed peer. Our goal is to continue to build value and become the largest listed company by market cap in our space within the next 24 months. This target represents a 20X increase from our current market cap.'

The Company filed its June 30, 2021 quarterly report today showing $600,000 in cash, posted revenues in Q2, and that it is fully funded with its $5 million line of credit to develop its EVP producer cell lines and scalable biomanufacturing process.

EV Biologics is building a world-class team of biotechnology experts specializing in cell and EV biology, biomanufacturing, biochemical engineering, bioinformatics and systems biology.

Please visit our website: www.evbiologics.com

EV was previously a Nasdaq listed company and intends to apply to up-list to OTCQX before the end of 2021.

About the Company

EV Biologics (formerly Yulong Eco-Materials Limited) is a Wyoming, USA domiciled Biotechnology Company, intent on developing and enhancing the intrinsic therapeutic activity of mesenchymal stromal cell (MSC) secreted factors, as well as targeted delivery of bioactive molecules using engineered exosomes. The company is working to optimize cell lines for production of native bioactive nanoparticles and to establish an exosome engineering platform to enhance specific therapeutic activity. Initially, these novel regenerative products will be produced for preclinical research on a number of clinical indications. Using proprietary and patentable technologies, the Company is creating exclusive IP and IT inherent in these bioengineered products. Further product development will be focused on investigation of novel stem cell-derived biopharmaceuticals designed for specific clinical conditions.

Forward-Looking Statements

This news release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases 'plans,' 'would be,' 'will allow,' 'intends to,' 'may result,' 'are expected to,' 'will continue,' 'anticipates,' 'expects,' 'estimate,' 'project,' 'indicate,' 'could,' 'potentially,' 'should,' 'believe,' 'think,' 'considers' or similar expressions are intended to identify 'forward-looking statements.' These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

YECO has 7.22 million shares issued and outstanding with a float of 1,016,375 shares.

Contact:

Dennis Burns
Investor Relations
Tel(567)237-4132
dburns@nvestrain.com

For more information on EV Biologics please visit: www.evbiologics.com

SOURCE: EV Biologics Corporation

View source version on accesswire.com:
https://www.accesswire.com/659469/EV-Biologics-Briefs-Shareholders-on-Market-Cap-Peer-Comparison

FAQ

What is the current market cap of EV Biologics Corp (YECO)?

EV Biologics Corp's market cap is less than half that of its closest listed peer, but the exact figure is not disclosed in the press release.

When does EV Biologics plan to up-list to OTCQX?

EV Biologics intends to apply for up-listing to OTCQX before the end of 2021.

What were the revenues reported by EV Biologics in Q2?

The press release indicates that EV Biologics posted revenues in Q2, but exact figures are not provided.

What is the purpose of the $5 million line of credit for EV Biologics?

The $5 million line of credit will be used to develop EVP producer cell lines and scalable biomanufacturing processes.

How many shares are issued and outstanding for EV Biologics (YECO)?

EV Biologics has 7.22 million shares issued and outstanding, with a float of 1,016,375 shares.