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Medicrea Reports First Quarter 2019 Financial Results

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  • Significant Improvement in Gross Margin Up 7 Points at 78%
  • Positive Ebitda (1)
  • Tight Control Over Operating Expense
  • Reduction of Operating Loss

LYON, France & NEW YORK–(BUSINESS WIRE)–The Medicrea Group (Euronext Growth Paris: FR0004178572-ALMED ; OTCQX
Best Market –MRNTF), pioneering the transformation of spinal surgery
through artificial Intelligence, predictive modeling and patient
specific implants with its UNiD™ ASI (Adaptive Spine Intelligence)
proprietary software platform, services and technologies, reports its
unaudited results for the first quarter of 2019.

                     
€’million       Q1 2019    

Q1 2018 (2)
Restated

   

Q1 2018

Published

Sales
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Gross margin – % of sales

EBITDA (1)

Operating income

Other operating income and expense

Share-based payments

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Cost of net financial debt

Income before taxes

Net Income

      7.7

78%

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0.3

(1.6)

(0.2)

(0.5)

(1.4)

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(3.6)

(3.6)

    8.2

71%

0.3

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(1.9)

(0.1)

(0.2)

(0.7)

(2.8)

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(2.8)

    8.2

71%

(0.2)

(1.9)

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(0.1)

(0.2)

(0.6)

(2.8)

(2.7)

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(1) : Operating income before interest depreciation and
amortization
(2) : after IFRS 16 “Leases” adjustments
applicable since January 1, 2019

             

Sales for the first quarter of 2019 amounted to 7.7 million euros, up
10% (+6% at constant exchange rates) compared to 2018 on a pro-forma
basis, thanks to growth in the USA, the Group’s priority market.

The discontinuation of two non-strategic distribution activities of
third-party products (mainly biologics) and services (surgical motors
maintenance and repairs) accounts for the 6% overall and temporary
decline in sales compared to prior year. Starting from the second half
of the year, these changes will no longer impact sales growth.

The strategic activity of predictive modeling and personalized implants
(UNiD ASI™) is expanding strongly, mainly in the USA, with the number of
patient-specific UNiD® surgeries up 68% in Q1 2019. As of March 31,
2019, UNiD ASI™ sales represent 42% of total sales (33% in Q1 2018). For
the US market alone, these figures stand at 67% and 55% respectively. To
date, 3,750 patient-specific surgeries have been performed.

As previously announced, gross margin for the first quarter improved
significantly compared to the same period last year, amounting to 78%
(+7 points) thanks to 1 / a favorable mix of sales and improved
manufacturing efficiency (+5 points), 2 / the discontinuation of
non-strategic distribution activities (+1 point) and 3 / some positive
currency impact (+1 point). The improvement is also visible
sequentially, gross margins for the 3rd and 4th quarter amounting
respectively to 73% and 77%. The ratio should gradually move closer to
the 80% normative level, which is the Group’s target.

Operating expenses including research and development, marketing and
administration expenses amounted to € 7.6 million in the first quarter,
down € 0.4 million compared to the first quarter of 2018, after
neutralization of currency effects. Operating income before interest
depreciation and amortization (EBITDA), after taking into account IFRS
16 changes, is positive at € 0.3 million.

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Operating loss thus improved by € 0.3 million to € -1.6 million thanks
to the increase in gross margin and the control of operating expenses,
despite the temporary adverse effects of the discontinuation of the
distribution and service activities described above.

Expenses of 0.5 million euro relating to share-based payments arise from
free shares and stock options granted in the last quarter of 2018.
Accounting rules in force for these instruments, in particular IFRS 2,
will result in recording a charge of approximately 2 million euros for
the full year.

The cost of net financial debt increased by € 0.8 million compared to
the first quarter of 2018, as a result of:

– interest expense on the $30 million bond issued in December 2018

some unrealized foreign exchange losses of 0.4 million euros on this
same loan due to the strengthening of the dollar since the beginning of
the 2019 financial year
– interest expense of € 0.1 million due to
IFRS 16 accounting changes

It is likely that the cost of net financial debt will fluctuate quite
significantly over the coming quarters depending on the euro / dollar
parity, should the Company not be successful in hedging both the
exchange rate and the interest rate attached to the $30 million bond.

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Cash on hand amounted to € 6.9 million at March 31, 2019, not including
a € 1 million research tax credit receivable expected to be cashed in
the 2nd quarter of 2019.

Outlook

“The increase in our gross margin and the control of our costs are very
positive signs for the start of this year. Our sales growth should
accelerate in coming quarters thanks to the expansion of our portfolio
products. We have just obtained the FDA’s approval to market our new
Tulip pedicle screw in the United States. These implants available from
June onwards and widely used by American surgeons should, in parallel to
the continued deployment of our UNiD ASI ™ offer, strengthen the Group’s
presence on its priority market,” comments Denys Sournac, President and
CEO of Medicrea.

Next publication: 2019 Half-Year sales: July 8th 2019,
after market.

About Medicrea (www.medicrea.com)

Through the lens of predictive medicine, Medicrea leverages its
proprietary software analysis tools with big data and machine learning
technologies supported by an expansive collection of clinical and
scientific data. The Company is well-placed to streamline the efficiency
of spinal care, reduce procedural complications and limit time spent in
the operating room.

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Operating in a $10 billion marketplace, Medicrea is a Small and Medium
sized Enterprise (SME) with 200 employees worldwide, which includes 50
who are based in the U.S. The Company has an ultra-modern manufacturing
facility in Lyon, France housing the development and production of 3D-
printed titanium patient-specific implants.

For further information, please visit: Medicrea.com.

Connect with Medicrea
FACEBOOK
| INSTAGRAM
| TWITTER
| WEBSITE
| YOUTUBE

Medicrea is listed on
EURONEXT Growth Paris
ISIN:
FR 0004178572

Ticker: ALMED
LEI:
969500BR1CPTYMTJBA37

Medicrea is traded on
OTCQX Best Market
Ticker:
MRNTF

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Contacts

Medicrea
Denys SOURNAC
Founder, Chairman and CEO
[email protected]

Fabrice
KILFIGER
Chief Financial Officer
[email protected]
Tel:
+33 (0)4 72 01 87 87

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Cannabis

Rodedawg (OTC: RWGI) Launches TikTok Shop to Expand into Global E-Commerce Market

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Billion

Industrial Hemp Market Soars from $6.6 Billion to $25.7 Billion by 2034, Fueled by Sustainable Innovation

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industrial-hemp-market-soars-from-$66-billion-to-$25.7-billion-by-2034,-fueled-by-sustainable-innovation

Industrial Hemp Playing Key Role in Carbon Sequestration and Soil Remediation Aligning with Sustainable Farming Practices

ROCKVILLE, Md., June 12, 2024 /PRNewswire/ — Based on a new research report by Fact.MR, worldwide sales of Industrial Hemp Market are estimated to reach US$ 6.6 billion in 2024. By 2034, this market is anticipated to skyrocket to a staggering US$ 25.7 billion, driven by a steady CAGR of 14.5% from 2024 onward.

Demand for industrial hemp is skyrocketing as more and more industries recognize its versatile and sustainable properties. Once overlooked, this remarkable crop is now being embraced for its myriad uses across various sectors. From textiles and construction materials to biofuels and nutritional supplements, hemp’s applications are seemingly endless.

Environmentally conscious consumers are driving much of this demand, as hemp requires minimal pesticides and herbicides, making it an eco-friendly choice for sustainable farming. Its ability to sequester carbon dioxide and remediate contaminated soil further adds to its appeal. Moreover, hemp’s durability, lightweight nature, and renewable qualities make it an attractive alternative to traditional materials in manufacturing.

Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=3989

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As awareness of hemp’s benefits continues to spread, industries are investing in research and development to unlock its full potential. With its multi-faceted applications and sustainable credentials, industrial hemp is poised to become a cornerstone of the green economy, meeting the growing demand for environmentally responsible products and practices.

Key Takeaways from the Market Study:

  • Based on nature, sales of organic hemp are estimated to reach a valuation of $3.2 billion in 2024.
  • The market in Mexico is evaluated to expand at a CAGR of 13.6% from 2024 to 2034.
  • Revenue from sales of industrial hemp in East Asia is projected to reach $5.9 billion by the end of 2034.
  • The South Korean market is evaluated to reach a valuation of $1.4 billion by the end of 2034.
  • North America is analyzed to hold a global market share of 24.3% by 2034.

“Use of industrial hemp in textiles, medicines, and food, coupled with global sustainability trends, is creating opportunities for suppliers. Governments worldwide are collaborating to boost global hemp distribution,” says a Fact.MR analyst.

Increasing Awareness of Therapeutic Potential of Hemp in Medical Applications

Once relegated to the fringes, industrial hemp is rapidly emerging as a sustainable wonder crop, fueling a wave of cutting-edge innovations across diverse industries. As researchers and entrepreneurs unlock its vast potential, hemp is proving to be a versatile and eco-friendly resource, paving the way for exciting new products and applications.

The automotive industry is also exploring the use of hemp fibers as a reinforcement material for lighter, stronger, and more sustainable car parts. These natural fiber composites could reduce vehicle weight, improving fuel efficiency and reducing emissions.

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In the field of biotechnology, scientists are harnessing the unique properties of hemp to develop innovative products. For instance, researchers are exploring the use of hemp-derived compounds, such as cannabidiol (CBD), for their potential therapeutic applications in various medical conditions.

Japan’s Industrial Hemp Market Poised for Rapid Growth

The industrial hemp market in Japan is projected to grow at a compound annual growth rate (CAGR) of 15.1% from 2024 to 2034, with the country expected to hold a 29.4% market share by the end of the period.

Increased investment in research is crucial for unlocking the full potential of industrial hemp. Research efforts may focus on improving hemp genetics for higher yield and quality, optimizing cultivation practices, and exploring innovative applications such as advanced nanomaterials or pharmaceuticals. This investment fosters innovation and establishes a foundation for the hemp industry’s long-term growth and competitiveness in an ever-evolving market.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=3989

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Expanding Opportunities in the United States Industrial Hemp Market

The industrial hemp market in the United States offers abundant opportunities for stakeholders to broaden their product portfolios. Beyond traditional uses like textiles and oils, there is significant potential for hemp-based products to evolve into biodegradable polymers, eco-friendly packaging, and even biofuels. This diversification, a prominent trend in the industrial hemp market, not only targets emerging markets but also positions hemp as a versatile and sustainable resource with applications across various industries.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the industrial hemp market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on nature (organic, conventional), product type (fiber, seeds), and end use (food & beverages, consumer textiles, personal products, industrial applications, hemp CBD, supplements, other consumer products), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).

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Check out More Related Studies Published by Fact.MR Research:

Hemp-Based Products Market is expected to reach $1.8 billion in 2023 and jump to a size of $16.2 billion by 2033.

Cannabis Infused Drinks Market is predicted to race ahead and end up at US$ 8.7 billion by 2032.

Ready-to-use Therapeutic Food Market to surge from $459.9M in 2024 to $800.6M by 2034, driven by 5.7% CAGR, marking substantial growth.

Specialty Fat and Oil Market will hit $85.94 billion by 2034 with a 4.6% Annual Growth Rate.

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Baking Ingredient Market is set to reach $41.48 billion by 2034, Driven by 6.5% Annual Growth Rate.

Infant Milk Formula Market: From Growth Spurts to Baby Boom – Projected Surge to $22.35 Billion by 2034.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape. 

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Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team[email protected]
Follow Us: LinkedIn | Twitter | Blog

 

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Innocan

Innocan Pharma Announces Successful Preliminary Safety Evaluation of LPT-CBD in Minipigs

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innocan-pharma-announces-successful-preliminary-safety-evaluation-of-lpt-cbd-in-minipigs

HERZLIYA, Israel and CALGARY, AB, June 11, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce the success and conclusion of a preliminary safety evaluation of Innocan’s single injection and sustained-release LPT-CBD conducted on minipigs. The animals demonstrated excellent drug tolerance and did not exhibit any drug-related adverse events.

 

 

Recognized by the FDA as an excellent model for toxicology, small breeds of miniature domestic pigs known as minipigs share strong similarities with humans in crucial aspects such as drug metabolism, skin structure, genetics, and physiological mechanisms. In this preliminary safety study, minipigs received a single subcutaneous injection of LPT-CBD and were closely monitored for pharmacokinetics and basic safety parameters over one month. Encouragingly, the animals all exhibited good drug tolerance and did not manifest any drug-related adverse reactions.

“We are thrilled with these findings, which further underpin the safety profile of LPT-CBD following a single injection,” commented Dr. Eyal Kalo, the R&D Director of Innocan Pharma. “With each new data point collected for LPT-CBD, we make significant strides in our quest to revolutionize patient care through sustained-release therapy. Our efforts to continuously gather data to fully characterize LPT-CBD are paramount in our journey towards its ultimate approval.”

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Professor Chezy Barenholz the CSO of Innocan Pharma added, “These results are immensely gratifying and hold significant promise as they highlight the characteristics of LPT-CBD in a physiological setting similar to humans.”

The study involved administering three ascending doses of LPT-CBD via subcutaneous injection in minipigs, followed by comprehensive monitoring of pharmacokinetics and safety parameters for 28 days. Throughout the study, the minipigs demonstrated excellent drug tolerance, as evidenced by blood clinical parameters whithin normal range, healthy appetite, and normal behavior. These findings are consistent with prior safety evaluations conducted with LPT-CBD on diverse animal models including goats and dogs, affirming the drug’s favorable tolerability profile following both single and repeated use.

Grant of Restricted Share Units                                                                                                 

The Company has granted an aggregate of 290,000 restricted share units (each, an “RSU“) to consultants. Each RSU entitles the recipient to receive one common share of the Company (a “Common Share“) on vesting. A total of 150,000 RSUs vest on May 30, 2024, and 140,000 RSUs vest on September 30, 2024. The RSUs and the underlying Common Shares are subject to a statutory hold period of four months and one day expiring on October 1, 2024.

Innocan also announces that it granted 2,380,000 stock options to employees and consultants to the Company. These options have a strike price of $0.28, with various vesting periods up to 12 months. All options expire on May 30, 2029.

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About Innocan Pharma:

Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/

Contact Information:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1 5162104025
+972-54-3012842
+442037699377
[email protected] 

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Caution Regarding Forward-Looking Information

Certain information set forth in this news release, including, without limitation, the Company’s plans for human trials of its LPT-CBD platform, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties that could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: global and local (national) economic, political, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and potential disruption of relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import/export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner). The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release. A comprehensive discussion of other risks that impact Innocan can be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedarplus.ca.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

Logo: https://mma.prnewswire.com/media/2046271/3968398/Innocan_Pharma_Corporation_Logo.jpg

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