Research and telemedicine company Braxia Scientific Corp. (OTC:BRAXF) has filed its financial statements for the third quarter ended Dec. 31, 2022, and shared an update on its proposed acquisition by Irwin Naturals (OTCQB:IWINF).
Financial results for the period show:
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Total revenue of $359.444 (CA$488,973) and $1 million for the three and nine months ended Dec. 31, 2022, as compared to revenue of $238.835 and $821.475 of the same periods in 2021.
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By Dec. 31, 2022 the company held $1.1 million in cash, as compared to $6.4 million in March 31, 2022.
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Total operating expenses of $1.6 and $3.9 million for the three and nine months ended Dec. 31, 2022, similar to the $1.9 million and $4.0 million corresponding to the same periods in 2021.
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Net loss of $1.6 million and $4.0 million for the three and nine months ended Dec. 31, 2022, as compared to $1.9 million and $3.9 million for the same periods in 2021.
Business And Development Highlights
Braxia's CEO Dr. Roger McIntyre says during the quarter the company continued progressing on its priorities, including scaling clinics, technology and people to meet the increasing treatment demand, as well as completing and funding a psilocybin clinical trial.
The company's three new clinics in Ottawa, Toronto and Kitchener-Waterloo are ramping up operations with new technology providing ketamine-assisted therapy and, in the case of the Ottawa center, psilocybin treatments under the Canadian Special Access Program.
Proprietary telemedicine platform KetaMD has continued its initial pilot program of ketamine therapy and progressed in building a pipeline of potential clinic partnerships.
See also: Telehealth Market News: Braxia Scientific Enters Industry By Acquiring Ketamine Treatment Platform In Florida
"Looking ahead, we are focused on accelerating our strategic initiatives with Irwin to create the market leader in North American mental health treatment," Dr. McIntyre said. "Together, we are aiming to build a large network of clinics, enhanced by our KetaMD telehealth platform, that will provide access to innovative treatments while also serving pharmaceutical sponsors by carrying out in-human clinical trials to assist in the development of novel therapeutics for potential future marketing authorization from FDA and other health regulators globally."
At a corporate level, Braxia's definitive acquisition by Irwin is expected to take place before March 31, 2023.
Irwin's chain of clinics has grown both extensively and rapidly. The companies have said the combination of their businesses will create a new market leader, with operations in nearly 40 US multiple markets and in Canada across business verticals regarding clinics, clinical research services and telehealth.
Particularly for the latter, KetaMD is available in Florida and the plan would be to expand to an estimated 40 states.
Photo: Benzinga edit with photo by Spotmatik Ltd on Shutterstock and Wikimedia Commons.
研究和遠端醫療公司布拉夏科學公司。(場外交易代碼:BRAXF)已經提交了截至2022年12月31日的第三季度財務報表,並分享了爾文自然(OTCQB:IWINF)擬議收購的最新情況。
該期間的財務業績顯示:
截至2022年12月31日的三個月和九個月的總收入為359.444美元(488,973加元)和100萬美元,而2021年同期的收入為238.835美元和821.475美元。
截至2022年12月31日,該公司持有110萬美元現金,而2022年3月31日為640萬美元。
截至2022年12月31日的三個月和九個月的總運營費用分別為160萬美元和390萬美元,與2021年同期的190萬美元和400萬美元類似。
截至2022年12月31日的三個月和九個月的淨虧損分別為160萬美元和400萬美元,而2021年同期分別為190萬美元和390萬美元。
業務和發展亮點
BraxiaCEO羅傑·麥金太爾博士該公司表示,在本季度,該公司在其優先事項上繼續取得進展,包括擴大診所、技術和人員規模,以滿足日益增長的治療需求,以及完成並資助裸蓋菇素臨床試驗。
該公司在渥太華、多倫多和基奇納-滑鐵盧的三家新診所正在擴大運營,採用新技術提供氯胺酮輔助治療,就渥太華中心而言,還根據加拿大特別準入計劃(Canada Special Access Program)提供裸蓋菇素治療。
專有遠端醫療平臺KetaMD繼續其氯胺酮治療的初始試點計劃,並在建立潛在的臨床合作夥伴關係方面取得了進展。
另見:遠端醫療市場新聞:BraxiaScience通過收購佛羅裡達州的氯胺酮治療平臺進入行業
麥金太爾博士說:“展望未來,我們將致力於加快我們與爾文公司的戰略合作,打造北美精神健康治療領域的市場領導者。”我們的共同目標是建立一個龐大的診所網路,並通過我們的KetaMD遠端健康平臺得到加強,該網路將提供獲得創新治療的途徑,同時通過進行人體臨床試驗為製藥贊助商提供服務,以幫助開發新的療法,以便未來可能獲得FDA和全球其他衛生監管機構的營銷授權。“
在企業層面,爾文對Bracia的最終收購預計將在2023年3月31日之前進行。
爾文的診所連鎖店已經廣泛而快速地增長。兩家公司表示,兩家公司的業務合併將創造一個新的市場領先者,在近40個美國多個市場和加拿大的診所、臨床研究服務和遠端醫療等垂直業務領域開展業務。
特別是對於後者,KetaMD在佛羅裡達州可用,計劃擴展到大約40個州。
圖片:Benzinga在Shutterstock和Wikimedia Commons上編輯的照片由Spotmatk Ltd提供。