Braxia Scientific's Q3 2023 Finances, Update On Upcoming Acquisition With Irwin Naturals
Braxia Scientific's Q3 2023 Finances, Update On Upcoming Acquisition With Irwin Naturals
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.
研究和远程医疗公司布拉夏科学公司。(场外交易代码:BRAXF)已经提交了截至2022年12月31日的第三季度财务报表,并分享了欧文自然(OTCQB:IWINF)拟议收购的最新情况。
该期间的财务业绩显示:
截至2022年12月31日的三个月和九个月的总收入为359.444美元(488,973加元)和100万美元,而2021年同期的收入为238.835美元和821.475美元。
截至2022年12月31日,该公司持有110万美元现金,而2022年3月31日为640万美元。
截至2022年12月31日的三个月和九个月的总运营费用分别为160万美元和390万美元,与2021年同期的190万美元和400万美元类似。
截至2022年12月31日的三个月和九个月的净亏损分别为160万美元和400万美元,而2021年同期分别为190万美元和390万美元。
业务和发展亮点
BraxiaCEO罗杰·麦金太尔博士该公司表示,在本季度,该公司在其优先事项上继续取得进展,包括扩大诊所、技术和人员规模,以满足日益增长的治疗需求,以及完成并资助裸盖菇素临床试验。
该公司在渥太华、多伦多和基奇纳-滑铁卢的三家新诊所正在扩大运营,采用新技术提供氯胺酮辅助治疗,就渥太华中心而言,还根据加拿大特别准入计划(Canada Special Access Program)提供裸盖菇素治疗。
专有远程医疗平台KetaMD继续其氯胺酮治疗的初始试点计划,并在建立潜在的临床合作伙伴关系方面取得了进展。
另见:远程医疗市场新闻:BraxiaScience通过收购佛罗里达州的氯胺酮治疗平台进入行业
麦金太尔博士说:“展望未来,我们将致力于加快我们与欧文公司的战略合作,打造北美精神健康治疗领域的市场领导者。”我们的共同目标是建立一个庞大的诊所网络,并通过我们的KetaMD远程健康平台得到加强,该网络将提供获得创新治疗的途径,同时通过进行人体临床试验为制药赞助商提供服务,以帮助开发新的疗法,以便未来可能获得FDA和全球其他卫生监管机构的营销授权。“
在企业层面,欧文对Bracia的最终收购预计将在2023年3月31日之前进行。
欧文的诊所连锁店已经广泛而快速地增长。两家公司表示,两家公司的业务合并将创造一个新的市场领先者,在近40个美国多个市场和加拿大的诊所、临床研究服务和远程医疗等垂直业务领域开展业务。
特别是对于后者,KetaMD在佛罗里达州可用,计划扩展到大约40个州。
图片:Benzinga在Shutterstock和Wikimedia Commons上编辑的照片由Spotmatk Ltd提供。
译文内容由第三方软件翻译。
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