Business

Neuralstem Shares Up as 2014 Loss Matches Expectations

Neuralstem shares rose Monday after the stem-cell development company reported a 2014 loss that matched analysts’ expectations while its revenue for the year was above the Street view.

Shares of CUR were up 7.4% at $2.75 in recent trading shortly after the open, in a 52-week range of $2.12 to $4.81.

The company reported a net loss of approximately $22.6 million, or $0.26 per share, for 2014, compared with a loss of approximately $19.8 million, or $0.27 per share, in 2013. The per-share comparison was skewed by a 20% jump in the number of shares outstanding. Two analysts polled by Capital IQ had expected a GAAP loss of $0.26 per share, on average.

The company’s operating loss was approximately $17.4 million, compared with a loss of approximately $12.5 million in the previous year. The widening of the operating loss was primarily attributable to an increase of approximately $3.7 million in general-and-administrative expenses coupled with an increase of approximately $1.0 million in research-and-development expenses.

Total revenue plunged to $18,833 for 2014 from $110,000 in the previous year, but was above three analysts’ average expectation for about $10,000 in revenue.

“In 2015, we plan to begin clinical development of our NSI-189 small molecule drug in a second indication for the treatment of cognitive deficit from schizophrenia, and we plan to initiate a Phase II clinical trial for the ongoing development program for the treatment of major depressive disorder (MDD),” said CEO Richard Garr. “The cell-therapy programs in amyotrophic lateral sclerosis (ALS), chronic spinal cord injury (cSCI) and stroke will also move forward.”

March 16, 2015
Technology

Endo International Launches Nasal Gel Testosterone Treatment

Endo International Monday reported it launched Natesto, which it described as the market’s first nasal gel for testosterone-replacement therapy in adult males diagnosed with hypogonadism, or lack of testosterone.

Endo noted the nasal gel was approved by the Food and Drug Administration in May 2014 for adult men with deficiency or absence of endogenous testosterone, including conditions both congenital or acquired.

Endo also makes and sells other testosterone gels and implantable testosterone pellets, but it said the nasal gel reduces the risk of transference via intranasal application.

The company said it obtained rights to the nasal gel for sale in the U.S. and Mexico from Trimel Pharmaceuticals for $25 million, plus additional payments related to regulatory and sales milestones. ENDP was up 0.9% in recent pre-market trading at $88.11, in a 52-week range of $53.62 to $92.80.

March 16, 2015
Science, Stocks

Apricus Biosciences Q4 Loss Widens, But Adjusted Loss Is Narrower Than Expected

Apricus Biosciences, a biopharmaceutical company focused on urology and rheumatology, on Monday reported a wider Q4 loss on a large in-licensing charge, but shares edged higher in the pre-market session as its loss excluding that charge was narrower than two analysts had expected. Shares of APRI were up 1.5% recently at $2.10, within a 52-week range of $0.92 to $2.75.

The company reported a Q4 net loss of $17.3 million, or $0.40 per share, compared with a net loss of $1.3 million, or $0.04 per share for Q4 2013. The company noted the widening in the quarterly net loss was primarily due to the in-licensing of fispemifene, a selective estrogen receptor modulator.

Excluding a $13.6 million charge related to the in-licensing, the company’s loss for the latest quarter was $0.09 per share. Two analysts polled by Capital IQ had predicted a loss of $0.12 for the quarter, on average.

Total revenue surged to $1.9 million from $362,000 in Q4 2013, topping one analyst’s prediction of $850,000.

In 2015, APRI expects to generate cash from milestone payments and royalty revenue from partner sales of Vitaros, its product for the treatment of erectile dysfunction. The company also said it will continue to pursue out-license opportunities for Vitaros in Asia Pacific and Latin America.

APRI plans to advance the pipeline with clinical trial progress of RayVa and fispemifene in 2015. The company expects to complete the enrollment of the RayVa Phase 2a clinical trial in Raynaud’s phenomenon in Q2 2015 with the goal of establishing proof-of-concept and the optimal dose required to advance the program into to late-stage clinical trials. APRI plans to begin a Phase 2b clinical trial for fispemifene in Q2 2015, with results expected in Q12016. The company believes its current cash will support its operating plan through 2015.

March 16, 2015
Science, Stocks

MacroGenics Begins Phase 1 Study of MGD010 for Treatment of Autoimmune Disorders

MacroGenics, a clinical-stage biopharmaceutical company, said Monday it has begun its Phase 1 study with MGD010, the company’s first Dual-Affinity Re-Targeting molecule being developed for patients with autoimmune disorders.

This Phase 1 clinical trial is a first-in-human, double-blind, placebo-controlled, single ascending dose study to evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics and immunogenicity of MGD010 in healthy subjects.

MGD010 is a bi-specific molecule that simultaneously targets CD32B and CD79B, two B-cell surface proteins, for the treatment of autoimmune disorders. MGD010 is designed to inhibit B-cell activation by exploiting the inhibitory function of CD32B, a checkpoint molecule expressed by B cells.

As a result of the study initiation, MGNX will receive a $3 million milestone payment from its partner, Takeda Pharmaceutical. The two companies entered into an option agreement for the development and commercialization of MGD010 in May 2014. Shares closed Friday at $34.77, with a 52-week range of $17.31 to $39.90, and was inactive pre-market.

March 16, 2015
Science, Stocks

AdLarge Media Signs Exclusive National Advertising Sales Agreement To Represent “The National Marijuana News” Radio Program

AdLarge Media has announced an agreement for exclusive, national advertising sales representation of The National Marijuana News (TNMNews), the unbiased news/talk program focused on the political, economic, medical, and social implications of the rapidly evolving marijuana industry.

“How marijuana fits into our culture is a conversation that is taking place across America, and the public wants the kind of balanced information that TNMNews delivers,” observed Jessica Sherman, Senior Director, Affiliate Marketing, AdLarge Media. “TNMNews is engaging listeners with guests who are experts in the legal and medical professions, and helping audiences find their position on marijuana by presenting the facts.”

Developed by seasoned news producers and media industry professionals, TNMNews takes a deep dive beyond the headlines to explore breaking cannabis news, including field segments, interviews, and roundtable discussions.

The driving force behind TNMNews has been Executive Producer Martin Wagmaister, whose background includes producer of Rick Dees In the Morning and On Air with Ryan Seacrest.

“It’s no longer a debate ‘for or against’,” Wagmaister stated. “Americans are looking for answers that will help them with their personal decisions.  Our goal at TNMNews is to present all the accurate information available, and to explore every viewpoint out there.”

About AdLarge Media (www.adlarge.com)
AdLarge Media is the fastest-growing independent audio advertising sales company in the U.S., representing radio, digital, and mobile content providers.  The company is at the forefront of advertising innovation, driving revenue at the intersection of content and technology with customized solutions that deliver a demonstrated return on investment in an ever-changing media landscape.  AdLarge serves a large portfolio of agencies and brands, and is widely recognized for its collaborative partnerships.  Founded in 2010 by industry leaders Gary Schonfeld and Cathy Csukas, AdLarge Media has offices in New York, Los Angeles, Chicago, and Detroit.

About The National Marijuana News
TNMNews examines the medicinal, political, scientific, professional, and social aspects of the controversial cannabis industry, which is legal in 23 states and the District of Columbia. The radio program goes deep and personal, exploring how cannabis has changed lives, and looks to the future with its potential to reshape the economy. TNMNews seeks to report and explore the subject of medical and recreational cannabis from diverse perspectives, with an open-minded, fact-based approach. For more information, go to www.tnmnews.com.  The National Marijuana News Corp., is a wholly owned subsidiary of DigiPath, Inc. (OTCBB and OTCQB: DIGP).

Information about Forward-Looking Statements
This press release contains “forward-looking statements” that include information relating to future events, and future financial and operating performance. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the in-demand for the Company’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in the Company’s filings with the United States Securities and Exchange Commission. An example of such forward-looking statements in this press release includes statements regarding the Company expanding into the botanical, nutraceutical, and cannabis industries. For a more detailed description of the risk factors and uncertainties affecting DigiPath, please refer to the Company’s recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

December 13, 2014
Business, Press Releases, Technology

CannaInsider.com Estimates 200,000 New Jobs in the Cannabis Industry by 2015

Colorado and Washington State are not the only states that have legalized adult use of cannabis. Oregon, Alaska, and Washington, D.C. ended prohibition during the November 2014 elections.

The benefits of legalizing cannabis are manifold. There are the most frequently noted and obvious benefits like the increased tax revenue for state and local governments, in addition to reduced stress on the criminal justice system. However the biggest advantage of legalizing adult use of cannabis is increased job growth.

CannaInsider.com has estimated that states that have passed adult use of cannabis will create over 200,000 new jobs in the cannabis field in 2015. CannaInsider.com provides a comprehensive list of some of these job descriptions created by the cannabis industry, allowing people to become familiar with these new opportunities.

One new job that is highly sought after is that of a “bud tender” — the term originally derived from “bar tender” — which describes the sommelier of the cannabis world. It is the job of the bud tender to help a medical marijuana patient or recreational user understand the best strain of cannabis for a specific desired effect. It is not uncommon for bud tenders to have huge tip jars filled by grateful patrons.

Other positions resulted from the cannabis industry hold the titles of: edible artisan, extraction technician, and dispensary manager. While a stigma remains associated with cannabis use in many parts of the country, it is fading fast – especially among young adults in the “Millennial” generation who are struggling to pay off student loans and may still be living with their parents.

Melissa Hopkins of Broomfield Colorado was recently hired in a cannabis-testing lab in Denver. “I graduated with a sociology degree last year, and it has been a struggle to find full-time work. I am excited by the job opportunities in the cannabis space, I feel like this industry is here to stay and I can work my way up the ladder.”

According to Matt Karnes, Founder and Managing Partner of GreenWave Advisors, LLC, an independent financial research and advisory firm for the marijuana industry, “By 2020, assuming the most likely progression of state by state legalization, we expect the combined (medical and adult use) retail marijuana market to reach $21 Billion. Jobs are just the beginning, a cultural shift towards the cannabis plant is taking place.”

 

December 12, 2014