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Cision Canada
08-08-2025
- Business
- Cision Canada
Oncolytics Biotech® Reports Second Quarter Financial Results and Details Clinical Program Plans for Pelareorep
Key opinion leader event and pancreatic cancer clinical data validate decision to engage with regulators on plans for a registration-enabling study New members of the management team bring expertise in progressing clinical programs and executing successful biotech transactions Translational data further elucidate pelareorep's mechanism of action and ability to prime the tumor microenvironment for treatment Commitment to limiting dilution evidenced by termination of At-the-Market and Equity Line of Credit facilities SAN DIEGO, Aug. 8, 2025 /CNW/ -- Oncolytics Biotech ® Inc. (NASDAQ: ONCY) (TSX: ONC) ("Oncolytics" or the "Company"), a clinical-stage immunotherapy company developing pelareorep, today reported financial results and recent highlights for the second quarter of 2025. All dollar amounts are expressed in Canadian currency unless otherwise noted. "We have turned the corner from proof-of-concept studies and will be sprinting toward regulatory clarity for the remainder of the year," said Jared Kelly, Chief Executive Officer of Oncolytics. "As we shore up our intellectual property, get a clear registration path for pelareorep, and allow our GOBLET data to mature, we will establish our position as the only platform immunotherapy in gastrointestinal tumors." Poster presentation at the American Society of Clinical Oncology Annual Meeting features translational data further demonstrating pelareorep's mechanism of action. Additional analyses of the combination of pelareorep, gemcitabine, nab-paclitaxel, and atezolizumab in first-line ("1L") metastatic pancreatic ductal adenocarcinoma ("mPDAC") patients enhance the understanding of pelareorep's ability to stimulate the immune system and enable treatment regimens to be effective in a traditionally hostile tumor microenvironment (click here for the PR, click here for the poster). Pelareorep expands reovirus-specific T cells, increases cytokines and chemokines, and increases tumor-infiltrating lymphocytes ("TILs") in the blood. New Chief Executive Officer Jared Kelly and Chief Business Officer Andrew Aromando hired to optimize pelareorep's development path. Both are experienced biotech executives with decades of experience advising companies, advancing clinical programs, and navigating successful transactions. They were both instrumental in guiding the sale of Ambrx Biopharma to Johnson & Johnson. Analyses of clinical data show pelareorep's ability to improve survival, and translational data confirming how the intended benefits are achieved. Recently highlighted survival data in mPDAC and breast cancer point to meaningful survival benefits for patients treated with pelareorep-based regimens compared to either control arms or historical data (click here for the PR). In 1L mPDAC, a review of landmark studies shows a historical benchmark of 9.2% two-year survival for chemotherapy regimens, in contrast to the 21.9% two-year survival rate recorded for 100 patients receiving pelareorep and chemotherapy. Translational data from multiple studies and tumor types provide evidence as to how these impressive results have been achieved (click here for the PR). In the GOBLET and AWARE-1 studies, pelareorep converted immunologically "cold" tumors to "hot" ones as a result of the upregulation of interferons, CXCL9/10/11, and PD-L1 in addition to the expansion and mobilization of TILs in the blood, which is correlated with a reduction in tumor size. Key Opinion Leader ("KOL") webinar discussion solidifies pelareorep's opportunity in mPDAC and other gastrointestinal cancers. Presentations from KOLs and a roundtable discussion of pelareorep's clinical data in mPDAC and gastrointestinal cancers point to a potentially significant opportunity for an immunotherapeutic drug candidate that already has shown the ability to extend survival for patients (click here for the PR). Specifically, 1L mPDAC would be ideal for pelareorep as there are no immunotherapies approved for that line of treatment, multiple 1L studies have already demonstrated pelareorep's ability to improve survival in that patient population, and it is backed up by translational data showing the ability to activate the immune system and alter the tumor microenvironment so it is more amenable to therapeutic intervention. Strategic decision to pursue registration-enabling pivotal study for pelareorep in 1L mPDAC. Discussions with regulators are underway to finalize the approval pathway for pelareorep in 1L mPDAC (click here for the PR). This includes decisions on which treatment regimens will be involved, whether to collaborate with a third party on the study, and formalizing overall survival as the primary endpoint. The prioritization of the pancreatic cancer program is based on the compelling survival and translational data from previous studies involving over 100 patients, and the particularly high unmet medical need in this indication. Pelareorep has already received Fast Track and Orphan Drug designation from the U.S. Food and Drug Administration (the "FDA") for mPDAC. If discussions with regulators proceed as expected and the feedback is positive, start-up activities for the study are expected to commence as early as Q4 2025. Commitment to limiting dilutive financing and maximizing shareholder value. Oncolytics intends to terminate its At-the-Market financing facility with Cantor Fitzgerald and Equity Line of Credit with Alumni Capital. The Company believes it has sufficient capital to reach critical regulatory and clinical milestones this fall and pursue strategic opportunities that demonstrate pelareorep's potential without the need for near-term dilutive financings at this time. Additionally, as separately announced, the Company has given formal notice to delist from the Toronto Stock Exchange (the "TSX"). Once delisted from the TSX, the Company's common shares will continue to trade under the symbol "ONCY" on the Nasdaq. Financial Highlights As of June 30, 2025, the Company reported $14.6 million in cash and cash equivalents, projecting a cash runway through key milestones and into the first quarter of 2026. The net loss for the second quarter of 2025 was $6.2 million, compared to a net loss of $7.3 million for the second quarter of 2024. The basic and diluted loss per share was $0.07 in the second quarter of 2025, compared to a basic and diluted loss per share of $0.10 in the second quarter of 2024. Research and development ("R&D") expenses for the second quarter of 2025 were $2.8 million, compared to $4.6 million for the second quarter of 2024. The decrease was primarily attributable to lower clinical trial expenses as the Company focused its R&D efforts on Cohort 5 of the GOBLET study, which is supported by the Pancreatic Cancer Action Network ("PanCAN") Therapeutic Accelerator Award. General and administrative expenses for the second quarter of 2025 were $2.9 million, compared to $3.4 million for the second quarter of 2024. The decrease was primarily due to lower public company-related expenses, and partially offset by higher personnel-related expenses associated with changes to the management team. Net cash used in operating activities for the six months ended June 30, 2025, was $12.0 million, compared to $14.3 million for the six months ended June 30, 2024. The decrease reflected lower operating activities in 2025, partially offset by higher non-cash working capital changes. Anticipated Milestones Q3 2025: Provide an updated clinical timeline for the registration-enabling pivotal study for pelareorep in 1L mPDAC. As early as Q4 2025: Initiate start-up activities for the registration-enabling study for pelareorep in 1L mPDAC. End of 2025: Updated clinical data regarding safety and efficacy in Cohort 4 of the GOBLET study investigating pelareorep combined with atezolizumab in anal carcinoma. Q4 2025: Initial responses from the U.S. Patent and Trademark Office ("PTO") regarding the company's application to extend patent protection for pelareorep. Annual General Meeting and Conference Call Change Management is hosting the Annual General Meeting later today at 10:00 a.m. ET, August 8, 2025. Oncolytics' Chief Executive Officer, Jared Kelly, will provide a brief update after the formal portion of the meeting. To access the meeting as a guest (i.e., a non-voting shareholder): Visit the webcast site: Click the button "I am a Guest" and complete the form If necessary, provide the case-sensitive password: onc2025 Information on how to vote your shares by proxy and attend the meeting as a shareholder is available in the Company's most recent Management Information Circular (the "Circular") dated June 18, 2025. The Circular is available on the Reports page of the investor relations section of the Company's website at and in Canadian and American securities filings. Going forward, Oncolytics will continue to announce quarterly financial results via press releases and in securities filings, but will no longer host quarterly conference calls with the management team. As at June 30, 2025 December 31, 2024 Assets Current assets Cash and cash equivalents $ 14,626 $ 15,942 Other receivables 72 68 Prepaid expenses 3,174 1,885 Warrant derivative 1,024 980 Total current assets 18,896 18,875 Property and equipment 351 411 Right-of-use assets 727 901 Total assets $ 19,974 $ 20,187 Liabilities and Shareholders' Equity Current liabilities Accounts payable and accrued liabilities $ 5,285 $ 4,792 Other liabilities 982 1,618 Lease liabilities 291 277 Total current liabilities 6,558 6,687 Contract liability 6,730 6,730 Lease liabilities 597 787 Total liabilities 13,885 14,204 Commitments Shareholders' equity Share capital Authorized: unlimited Issued: June 30, 2025 – 97,407,903 December 31, 2024 – 80,020,131 451,142 438,193 Contributed surplus 44,792 44,542 Accumulated other comprehensive income 720 961 Accumulated deficit (490,565) (477,713) Total shareholders' equity 6,089 5,983 Total liabilities and shareholders' equity $ 19,974 $ 20,187 ONCOLYTICS BIOTECH INC. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) (in thousands of Canadian dollars) Share Capital Contributed Surplus Accumulated Other Comprehensive Income Accumulated Deficit Total As at December 31, 2023 $ 430,906 $ 42,116 $ 544 $ (446,003) $ 27,563 Net loss and other comprehensive income — — 178 (14,150) (13,972) Issued pursuant to incentive share award plan 3 (3) — — — Issued pursuant to "At the Market" Agreement 3,840 — — — 3,840 Share issue costs (202) — — — (202) Share-based compensation expense — 1,082 — — 1,082 As at June 30, 2024 $ 434,547 $ 43,195 $ 722 $ (460,153) $ 18,311 As at December 31, 2024 $ 438,193 $ 44,542 $ 961 $ (477,713) $ 5,983 Net loss and other comprehensive loss — — (241) (12,852) (13,093) Issued pursuant to incentive share award plan 1,481 (1,481) — — — Issued pursuant to "At the Market" Agreement 8,714 — — — 8,714 Issued pursuant to share purchase agreement 3,841 — — — 3,841 Share issue costs (1,087) — — — (1,087) Share-based compensation expense — 1,731 — — 1,731 As at June 30, 2025 $ 451,142 $ 44,792 $ 720 $ (490,565) $ 6,089 Six Months Ended June 30, 2025 2024 Operating Activities Net loss for the period $ (12,852) $ (14,150) Depreciation - property and equipment 51 56 Depreciation - right-of-use-assets 140 165 Share-based compensation expense 1,731 1,082 Interest expense on lease liabilities 74 57 Unrealized foreign exchange loss (gain) 1 (576) Change in fair value of warrant derivative (44) (1,104) Net change in non-cash working capital (1,070) 182 Cash used in operating activities (11,969) (14,288) Investing Activities Acquisition of property and equipment — (201) Cash used in investing activities — (201) Financing Activities Proceeds from "At the Market" equity distribution agreement, net 8,386 3,638 Proceeds from share purchase agreement, net 3,082 — Payment of lease liabilities (205) (168) Cash provided by financing activities 11,263 3,470 Decrease in cash and cash equivalents (706) (11,019) Cash and cash equivalents, beginning of period 15,942 34,912 Impact of foreign exchange on cash and cash equivalents (610) 957 Cash and cash equivalents, end of period $ 14,626 $ 24,850 About Oncolytics Biotech Inc. Oncolytics is a clinical-stage biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. Pelareorep has demonstrated promising results in multiple first-line pancreatic cancer studies, two randomized Phase 2 studies in metastatic breast cancer and early-phase studies in anal and colorectal cancer. It induces anti-cancer immune responses by converting immunologically "cold" tumors "hot" through the activation of innate and adaptive immune responses. The Company is advancing pelareorep in combination with chemotherapy and/or checkpoint inhibitors in metastatic pancreatic and breast cancers, both of which have received Fast Track designation from the FDA, and other gastrointestinal tumors. Oncolytics is actively pursuing strategic partnerships to accelerate development and maximize commercial impact. For more about Oncolytics, please visit: or follow the Company on social media on LinkedIn and on X @ oncolytics. Forward-looking statements This press release contains forward-looking statements, within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended and forward-looking information under applicable Canadian securities laws (such forward-looking statements and forward-looking information are collectively referred to herein as "forward-looking statements"). Forward-looking statements contained in this press release include statements regarding Oncolytics' belief as to the potential, mechanism of action and benefits of pelareorep as a cancer therapeutic; its upcoming milestones; its belief that we will establish our position as the only platform immunotherapy in gastrointestinal tumors; its plans for a potential registration-enabling pivotal study in 1L mPDAC; the anticipated potential timing of commencement of start-up activities and enrollment in a study; the focus of its discussions with the FDA in respect of the study; the anticipated trial design; its plan to delist from the Toronto Stock Exchange; its plans with respect to shareholder communications; and its plan to continue actively pursuing strategic partnerships; its goals, strategies and objectives; its belief in the clinical promise of pelareorep in mPDAC and other gastrointestinal cancers; financial projections and the sufficiency of capital to reach critical milestones and pursue strategic opportunities and its need for near-term dilutive financing. In any forward-looking statement in which Oncolytics expresses an expectation or belief as to future results, such expectations or beliefs are expressed in good faith and are believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will be achieved. These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those anticipated. These risks include, but are not limited to, regulatory outcomes, trial execution, financial resources, access to capital markets, and market dynamics. Please refer to Oncolytics' public filings with securities regulators in the United States and Canada for more information. The Company assumes no obligation to update forward-looking statements, except as required by law. Company Contact Jon Patton Director of IR & Communication [email protected] Investor Relations for Oncolytics Mike Moyer LifeSci Advisors +1-617-308-4306 [email protected]
Yahoo
07-08-2025
- Business
- Yahoo
QBTS Q2 Earnings Miss Estimates, Shares Fall Pre-Market
D-Wave Quantum QBTS reported second-quarter 2025 adjusted net loss per share of 8 cents, wider than the Zacks Consensus Estimate of a loss of 6 cents. Adjusted net loss, however, narrowed by 4 cents from the year-ago period. The quarter's one-time adjustments include non-cash, non-operating warrant remeasurement-related charges. The quarter's GAAP net loss per share was 55 cents, significantly wider than the year-ago net loss of 10 cents per share. Following the earnings announcement, QBTS shares dropped nearly 6% in pre-market trading today. QBTS Q2 Revenues D-Wave Quantum registered revenues of $3.09 million in the reported quarter, up 42% year over year. The figure topped the Zacks Consensus Estimate by 22.6%. Bookings (customer orders received that are expected to generate net revenues in the future) for the second quarter were $1.3 million, up 92% year over year. Over the past four quarters, D-Wave served more than 100 revenue-generating customers. QBTS' Q2 Margin Performance In the reported quarter, GAAP gross profit was $2.0 million, marking a 42% increase from the same period last year. This growth was primarily fueled by a rise in revenues. Meanwhile, GAAP gross margin expanded 20 basis points (bps) year over year to 63.8%. On an adjusted basis, which excludes non-cash stock-based compensation and depreciation and amortization, gross profit came in at $2.2 million, up 39% a year ago. Adjusted gross margin was 71.8%, a 130-bps contraction from the prior-year comparable quarter. Operating loss was $26.5 million in the second quarter, wider than the year-ago operating loss of $18.8 million. D-Wave Quantum Inc. Price, Consensus and EPS Surprise D-Wave Quantum Inc. price-consensus-eps-surprise-chart | D-Wave Quantum Inc. Quote QBTS' Financial Update D-Wave exited the second quarter of 2025 with cash and cash equivalents of $819.3 million compared with $177.9 million at the end of 2024. In the second quarter, D-Wave raised $400 million through its fourth ATM equity offering, $99.3 million from warrant exercises and $37.8 million via its Equity Line of Credit with Lincoln Park, completing the $150 million commitment secured in June 2022. The company ended the quarter with $694.3 million in stockholders' equity. Our Take on QBTS D-Wave Quantum exited the second quarter of 2025 with earnings missing estimates but revenues beating the same. The company delivered strong results across key technical and business metrics. Major highlights included the launch of its sixth-generation quantum computer, progress on an on-premises system agreement in South Korea, completion of system assembly at Davidson Technologies, and the release of new quantum AI and machine learning tools. However, the contraction in its adjusted gross margin and its wider operating loss are concerning. QBTS' Zacks Rank and Key Picks Currently, D-Wave carries a Zacks Rank #3 (Hold). Some better-ranked stocks that investors can consider in the broader Zacks Computer and Technology sector are Bumble BMBL, Arista Networks ANET and MongoDB MDB. Bumble sports a Zacks Rank #1 (Strong Buy) at present, while Arista Networks and MongoDB carry a Zacks Rank #2 (Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here. The Zacks Consensus Estimate for Bumble's 2025 earnings has been revised upward by a penny to $1.05 per share in the past 30 days, implying a strong improvement from a loss of $4.61 reported in 2024. Bumble shares have declined 17.9% year to date. The Zacks Consensus Estimate for Arista Networks' 2025 earnings has been revised downward by a penny to $2.57 per share over the past seven days and suggests a year-over-year increase of 13.2%. Arista Networks shares have rallied 25.7% year to date. The Zacks Consensus Estimate for MongoDB's fiscal 2026 earnings has been revised upward by 4 cents to $3.07 per share in the past 60 days, calling for a 16.1% year-over-year decline. MongoDB shares have risen 1.2% year to date. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Arista Networks, Inc. (ANET) : Free Stock Analysis Report MongoDB, Inc. (MDB) : Free Stock Analysis Report Bumble Inc. (BMBL) : Free Stock Analysis Report D-Wave Quantum Inc. (QBTS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
29-07-2025
- Business
- Globe and Mail
DeFi Dev Corp. Grows Treasury to 1.18M SOL, Raises $20M from Equity Line of Credit
BOCA RATON, FL, July 29, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the 'Company') the first public company with a treasury strategy built to accumulate and compound Solana ('SOL'), today announced it now holds approximately 1,182,685 SOL and SOL equivalents on its balance sheet, inclusive of rewards generated through staking and onchain activities. The increase follows the Company's purchase of 181,303 SOL between July 21 - July 28, at an average purchase price of $155.33, representing a total value of approximately $28 million. The purchases, primarily funded through proceeds from the Company's Equity Line of Credit, included both spot and discounted locked SOL. As a result, the Company's key performance metric, SOL per share ('SPS'), rose 12% week over week to 0.0575 as of July 28, 2025 – marking the second consecutive week of double-digit SPS growth. Below is a summary of DeFi Dev Corp.'s current SOL position and key per-share metrics as of July 28, 2025: Total SOL & SOL Equivalents Held: 1,182,685, representing a 182,686 increase vs. our previous balance of 999,999 Total SOL & SOL Equivalents Held (USD): approximately $218 million Total Shares Outstanding as of July 28, 2025: 20,556,103 SOL per Share ('SPS'): 0.0575, representing an approximate 12% increase week over week SPS (USD): $10.60 The newly acquired SOL will be held long-term and staked to a variety of validators, including DeFi Dev Corp.'s own Solana validators to generate native yield. Equity Line of Credit Usage During the period July 21-July 28, DeFi Dev Corp. raised approximately $20 million in net proceeds through its Equity Line of Credit facility ('ELOC'), issuing approximately 975,000 shares of common stock, bringing total month-to-date proceeds to $39 million. Approximately $10 million of the proceeds remains available primarily for future SOL purchases. To date, DeFi Dev Corp. has drawn 0.8% of the total available capacity under its ELOC. Approximately $4.96B remains available under the facility. SPS Calculator Investors can now use our new SPS Forecasting Calculator to model potential SOL-per-share growth based on capital raising, validator yield, and delegated stake assumptions: The Company will continue to provide suitable updates to our Treasury and underlying strategies, through public releases and regulatory filing(s), as available. About DeFi Development Corp. DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance ('DeFi') opportunities and continues to explore innovative ways to support and benefit from Solana's expanding application layer. The Company is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions, as well as value-add services, to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage. The Company currently serves more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders, including more than 10% of the banks in America, credit unions, real estate investment trusts ('REITs'), debt funds, Fannie Mae® and Freddie Mac® multifamily lenders, FHA multifamily lenders, commercial mortgage-backed securities ('CMBS') lenders, Small Business Administration ('SBA') lenders, and more. The Company's data and software offerings are generally offered on a subscription basis as software as a service ('SaaS'). Forward-Looking Statements This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," strategy," "future," "likely," "may,", "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated impairment charges that the Company may incur as a result of a decrease in the market price of SOL below the value at which the Company's SOL are carried on its balance sheet; (ii) the effect of and uncertainties related to the ongoing volatility in interest rates; (iii) our ability to achieve and maintain profitability in the future; (iv) the impact on our business of the regulatory environment and complexities with compliance related to such environment including changes in securities laws or other laws or regulations; (v) changes in the accounting treatment relating to the Company's SOL holdings; (vi) our ability to respond to general economic conditions; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (viii) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (ix) other risks and uncertainties more fully in the section captioned "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Yahoo
17-06-2025
- Business
- Yahoo
Scienture Holdings Announces Cancelation of ELOC
TAMPA, FL, June 17, 2025 (GLOBE NEWSWIRE) -- SCIENTURE HOLDINGS, INC. (NASDAQ: SCNX) (the 'Company'), a holding company for existing and planned pharmaceutical operating companies focused on providing enhanced value to patients, physicians and caregivers through developing, bringing to market, and distributing novel specialty products to satisfy unmet market needs, announced it has terminated its Equity Line of Credit ('ELOC') facility effective as of May 22, 2025. In connection with cancellation of the ELOC, on June 16, 2025, the Company filed a post-effective amendment to the Registration Statement on Form S-1 (File No. 333-283591) filed with the Securities and Exchange Commission on December 3, 2025, declared effective on February 14, 2025. The post-effective amendment deregisters all 310,488 unsold shares of the Company's common stock that had been registered under the registration statement. This strategic financial decision comes as the Company prepares to commercially launch its first FDA-approved product candidate, Arbli™, which is the first and only FDA-approved ready-to-use oral liquid losartan in the U.S. market. "This move allows management to focus more on our planned commercialization of Arbli™ upcoming in summer 2025,' said Shankar Hariharan, Co-Chief Executive Officer and Executive Chairman. 'We believe that it is in the Company's best interest to cancel the ELOC facility as we prepare for the commercial launch of Arbli™ and seek more favorable financing terms to support the Company's near and long-term growth strategy.' "We are at a critical moment in our Company's history as we quickly approach our target date for commercially lauunching Arbli™ this summer,' commented Naraismhan Mani, Co-Chief Executive Officer and President. 'Cancelling the ELOC facility represents a commitment by our management to focus on the commercial launch and finding more favorable funding opportunities to support our strategic plans.' The Company continues to expect that it will commercially launch Arbli™ by making it available to patients in the U.S. during Q3 2025. Arbli™ is indicated for the treatment of hypertension in patients greater than 6 years old, for the reduction of risk of stroke in patients with hypertension and left ventricular hypertrophy, and for the treatment of diabetic nephropathy in certain patients with type 2 diabetes. About Arbli™ Arbli™ is the first and only oral liquid formulation of losartan approved by the U.S. FDA. It comes in a 165 mL bottle as a peppermint flavored suspension that does not require refrigeration and has been approved for a shelf life of 18 months from the date of manufacture when stored at room temperature. Based on the additional stability data that has been obatined, the shelf-life of the product has been extended to 24-months at room temperature. About Scienture Holdings, Inc. SCIENTURE HOLDINGS, INC. (NASDAQ: 'SCNX'), through its wholly owned subsidiaries, Scienture, LLC and Integra Pharma Solutions, LLC, is a comprehensive pharmaceutical product company focused on providing enhanced value to patients, physicians and caregivers by offering novel specialty products to satisfy unmet market needs. Integra Pharma Solutions, LLC, is a licensed pharmaceutical wholesaler and sells brand, generic and non-drug products to healthcare markets including government organizations, hospitals, clinics and independent pharmacies nationwide. Scienture, LLC is a branded, specialty pharmaceutical company consisting of a highly experienced team of industry professionals who are passionate about developing and bringing to market unique specialty products that provide enhanced value to patients and healthcare systems. The assets in development at Scienture are across therapeutics areas, indications and cater to different market segments and channels. For more information please visit Cautionary Statements Regarding Forward-Looking Statements This press release contains certain statements that may be deemed to be 'forward-looking statements' within the federal securities laws, including the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Statements that are not historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to future events or our future performance or future financial condition. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about our company, our industry, our beliefs and our assumptions. Such forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future, including for the products we may launch and the success those products may have in the marketplace. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. In some cases, you can identify forward-looking statements by the following words: 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'ongoing,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' or the negative of these terms or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are subject to a number of risks and uncertainties (some of which are beyond our control) that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. These risks include risks relating to agreements with third parties; our ability to raise funding in the future, as needed, and the terms of such funding, including potential dilution caused thereby; our ability to continue as a going concern; security interests under certain of our credit arrangements; our ability to maintain the listing of our common stock on the Nasdaq Capital Market; claims relating to alleged violations of intellectual property rights of others; the outcome of any current legal proceedings or future legal proceedings that may be instituted against us; unanticipated difficulties or expenditures relating to our business plan; and those risks detailed in our most recent Annual Report on Form 10-K and subsequent reports filed with the SEC. Forward-looking statements speak only as of the date they are made. Scienture Holdings, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as otherwise provided by law. Contact: SCIENTURE HOLDINGS, INC.6308 Benjamin Rd, Suite 708Tampa, Florida 33634Phone: (866) 468-6535Email: IR@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
08-05-2025
- Business
- Business Upturn
Wellgistics Health Secures $50M Credit Facility and Launches XRP-Powered Payment Initiative
Tampa, FL, May 08, 2025 (GLOBE NEWSWIRE) — Wellgistics Health, Inc. (NASDAQ: WGRX), a technology-first pharmaceutical distribution and healthcare infrastructure company, today announced a new initiative to pioneer the use of XRP, a blockchain-based digital asset, as both a treasury reserve and a real-time payments infrastructure-which management believes, upon successful commercialization, would make Wellgistics among the first publicly traded healthcare companies to deploy XRP in this manner. This XRP payment initiative is supported by Wellgistics Health's $50 million Equity Line of Credit (ELOC), the proceeds of which may be utilized to further develop and unlock programmable liquidity and on-demand financial infrastructure designed to eliminate banking delays, reduce cost, and increase transparency across its national healthcare network. 'At Wellgistics Health, we challenge the idea that healthcare has to be tethered to legacy systems, bloated intermediaries, and slow-moving money,' said Brian Norton, CEO of Wellgistics Health. 'We are developing a platform that connects manufacturers directly to pharmacies and patients-bypassing the red tape and placing control back in the hands of those who deliver care. Our blockchain-enabled payment system and ledger is just the next logical step in healthcare evolution, allowing us to hardwire speed, liquidity, and transparency into a system that's long been starved of all three. I believe that the future winners in healthcare won't be the companies with the biggest buildings…they'll be those with the fastest rails, cleanest data, and most efficient platforms. We're betting on infrastructure…not inertia.' Why XRP? Why Now? We believe that there are certain advantages to integrating XRP and its related infrastructure into its healthcare ecosystem. These include, among others: Speed: XRP settles transactions in 3-5 seconds vs. 1-3 days for ACH or wire transfers, allowing for near real-time settlement among pharmacies, suppliers, and manufacturers. XRP settles transactions in 3-5 seconds vs. 1-3 days for ACH or wire transfers, allowing for near real-time settlement among pharmacies, suppliers, and manufacturers. Cost: Less than $0.0002 per transfer vs. $10-$30 for standard bank wires. Less than $0.0002 per transfer vs. $10-$30 for standard bank wires. Transparency: All transactions are logged on the XRP Ledger for real-time compliance, rebate tracking, and auditability. All transactions are logged on the XRP Ledger for real-time compliance, rebate tracking, and auditability. Scope : Supports global vendor payouts with significantly low foreign exchange and wire transfer fees. : Supports global vendor payouts with significantly low foreign exchange and wire transfer fees. Flexibility: Allows for XRP-backed lines of credit to support independent pharmacy liquidity. These benefits will support faster vendor payments, performance-based rebates, and embedded liquidity tools for pharmacies and manufacturers in the Wellgistics ecosystem. Use Cases Across the Ecosystem Real-time settlement between pharmacies, suppliers, and manufacturers Smart rebates calculated automatically based on real-world data XRP-backed credit lines to enhance liquidity for independent pharmacies Global vendor payouts with near-zero foreign transaction and wire costs Immutable compliance layer supporting DSCSA reporting and pricing validation 'We're working to unlock capital velocity with surgical precision,' said Mark DiSiena, CFO of Wellgistics Health. 'We believe that our XRP-powered infrastructure will allow us to run leaner, faster, and with more control than any of our peers in pharma infrastructure.' The Market Is Moving-And Wellgistics Intends to Lead XRP is gaining momentum across global institutions, as demonstrated by the following: CME Group to launch XRP futures for institutional access → CME will launch cash-settled XRP futures contracts in May 2025 to meet rising institutional demand.¹ Mastercard identifies XRP as a bridge currency for cross-border payments → Mastercard's 2025 report highlights XRP as a top solution for global remittances and cost efficiency.² Ripple acquires prime brokerage firm Hidden Road for $1.25B → This landmark acquisition expands XRP's footprint in institutional liquidity and asset servicing.³ Ripple receives regulatory licensing in Dubai → Ripple became the first blockchain payment provider licensed by the DFSA to operate crypto-based financial services in the UAE.⁴ Ripple expands real-world cross-border payment corridors in Brazil and Portugal → Ripple now enables live XRP-powered remittances between LATAM and Europe through its partnership with Unicâmbio.⁵ 'Others are waiting for change. We're building it,' Norton added. 'I strongly believe that our XRP initiative positions Wellgistics Health years ahead of the curve-and squarely at the center of where healthcare and fintech converge.' About Wellgistics Health Wellgistics Health, Inc. (NASDAQ:WGRX) is a publicly traded healthcare infrastructure company transforming how medications move, get priced, and reach patients. The company operates across pharmaceutical distribution, prescription technology, and clinical fulfillment-connecting over 150 direct manufacturer contracts to a growing network of more than 6,000 independent pharmacies nationwide. Wellgistics Health delivers real-time prescription hub services, compliance-driven logistics, and patient-first fulfillment models, while equipping pharmacies with embedded financial, clinical, and digital tools. Its integrated platform supports a wide range of therapeutic categories-from specialty-lite to maintenance meds-by eliminating friction, accelerating reimbursements, and creating direct, transparent pathways between manufacturers, providers, pharmacies, and patients. For more information, visit: . Forward-Looking Statements This press release may contain forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When Wellgistics Health uses words such as 'may, 'will, 'intend,' 'should,' 'believe,' 'expect,' 'anticipate,' 'project,' 'estimate' or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, Wellgistics Health's statements regarding Wellgistics Health's strategy and descriptions of its future operations, prospects, and plans. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from Wellgistics Health's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other risks detailed in our reports and statements filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in Wellgistics Health's filings with the SEC, which are available for review at . Media Contact: [email protected] Investor Relations: [email protected] References CME Group Press Release: CME to Launch XRP Futures AInvest: Mastercard Identifies XRP as Bridge Currency Reuters: Ripple Acquires Hidden Road for $1.25B BusinessWire: Ripple Licensed by DFSA in Dubai PYMNTS: Ripple Launches Portugal-Brazil Corridor Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
