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CNS Pharmaceuticals Announces Closing Of Initial Public Offering of Common Stock

On November 13, 2019 CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) ("Company"), a pre-clinical stage biotechnology company specializing in the development of novel treatments for brain tumors, reported the closing of its initial public offering of 2,125,000 shares of common stock at an initial public offering price of $4.00 per share (Press release, CNS Pharmaceuticals, NOV 13, 2019, View Source [SID1234551226]). The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, were $8.5 million. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 318,750 shares of common stock at the initial price to the public less underwriting discounts and commissions. The Company’s common stock is listed on the NASDAQ Capital Market under the symbol CNSP.

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The Benchmark Company, LLC acted as sole Book Running Manager for the offering.

A registration statement on Form S-1 (File No. 333-232443) relating to the shares was filed with the Securities and Exchange Commission ("SEC") and became effective on November 7, 2019. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from The Benchmark Company, LLC, Attn: Prospectus Department, 150 E 58th Street, 17th floor, New York, NY 10155, 212-312-6700, Email: [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Berubicin
Berubicin is an anthracycline, a class of drugs among the most powerful chemotherapy drugs and effective against more types of cancer than any other class of chemotherapeutic agents. Anthracyclines are designed to damage the DNA of targeted cancer cells by interfering with the action of the topoisomerase II, a critical enzyme enabling cell proliferation. Berubicin was developed at the MD Anderson Cancer Center (MDACC), the world’s largest cancer research facility. Berubicin appeared to demonstrate one Durable Complete Response in a Phase I human clinical trial conducted by a prior developer.

China Biologic Reports Financial Results for the Third Quarter of 2019

On November 13, 2019 China Biologic Products Holdings, Inc. (NASDAQ: CBPO, "China Biologic" or the "Company"), a leading fully integrated plasma-based biopharmaceutical company in China, reported its unaudited financial results for the third quarter of 2019 (Press release, China Biologic Products, NOV 13, 2019, View Source [SID1234551225]).

Third Quarter 2019 Financial Highlights

Total sales in the third quarter of 2019 increased by 17.5% in RMB terms and 14.3% in USD terms to $136.1 million from $119.1 million in the same quarter of 2018.
Gross profit increased by 9.1% to $88.6 million from $81.2 million in the same quarter of 2018. Gross margin decreased to 65.1% from 68.2% in the same quarter of 2018.
Income from operations increased by 84.7% to $53.0 million from $28.7 million in the same quarter of 2018. Operating margin increased to 38.9% from 24.1% in the same quarter of 2018.
Non-GAAP adjusted income from operations increased by 64.1% in RMB terms and 59.7% in USD terms to $61.5 million from $38.5 million in the same quarter of 2018.
Net income attributable to the Company increased by 42.9% to $47.0 million from $32.9 million in the same quarter of 2018. Diluted net earnings per share increased to $1.21 compared to $0.94 in the same quarter of 2018.
Non-GAAP adjusted net income attributable to the Company increased by 66.0% in RMB terms and 61.4% in USD terms to $54.4 million from $33.7 million in the same quarter of 2018. Non-GAAP adjusted net earnings per diluted share increased to $1.40 from $0.96 in the same quarter of 2018.
NOTE: Detailed financial statements and information are available through this link: View Source

"We were pleased to achieve another quarter of strong financial results, driven primarily by the higher-than-expected IVIG sales in the distributor channel following the successful reorganization of our sales and marketing team," said Joseph Chow, Chairman and CEO of China Biologic. "Looking into the fourth quarter and beyond, our new sales and marketing talent will be dedicated to the further pursuit of medical marketing strategies to enhance doctors’ awareness about the benefits of IVIG, PCC, and other coagulation factor products in treating chronic diseases. As a result of stronger than expected albumin sales for the first nine months of the year combined with this quarter’s rebound in IVIG sales, we are raising guidance for the full year 2019."

Financial Outlook

For the full year of 2019, the Company is raising its full year forecast of growth of non-GAAP adjusted income from operations to 11% to 13% from 4% to 6% and non-GAAP adjusted net income growth to 16% to 18% from 4% to 6% in RMB terms over the Company’s full year 2018 financial results. The raising of guidance was primarily due to the combined effect of stronger than expected albumin sales for the first nine months of the year, a rebound in IVIG sales in the third quarter, and higher than anticipated interest income for the full year.

This guidance does not factor in any potential foreign currency translation impact. Having previously adopted an exchange rate of approximately RMB6.59 = $1.00 based on weighted average quarterly exchange rates in 2018 in translating 2018 financial results, the Company expects that the total sales and non-GAAP adjusted net income in USD terms in 2019 could be affected by the foreign currency translation impact.

This guidance excludes potential acquisitions, and necessarily assumes no significant adverse product price changes during 2019. This forecast reflects the Company’s current and preliminary views, which are subject to change.

Conference Call

The Company will host a conference call at 7:30 am Eastern Time on Thursday, November 14, 2019, which is 8:30 pm Beijing Time on November 14, 2019, to discuss its third quarter 2019 results and answer questions from investors. Listeners may access the call by dialing:

US:

1 888 346 8982

International:

1 412 902 4272

Hong Kong:

800 905 945

Mainland China:

400 120 1203

A telephone replay will be available one hour after the conclusion of the conference all through November 21, 2019. The dial-in details are:

US:

1 877 344 7529

International:

1 412 317 0088

Passcode:

10136730

A live and archived webcast of the conference call will be available through the Company’s investor relations website at View Source

Nektar to Webcast Presentation at Jefferies 2019 London Healthcare Conference

On November 13, 2019 Nektar Therapeutics’ (Nasdaq: NKTR) senior management is reported to present at the upcoming Jefferies 2019 Healthcare Conference in London on Wednesday, November 20, 2019 at 4:00 p.m. Greenwich Mean Time (Press release, Nektar Therapeutics, NOV 13, 2019, View Source [SID1234551224]).

The presentation will be accessible via a Webcast through a link posted on the Investor Events section of the Nektar website: View Source This Webcast will be available for replay until December 12, 2019.

Dragonfly Therapeutics Announces Celgene Chooses Third TriNKET ™ Immunotherapeutic Drug Candidate

On November 13, 2019 Dragonfly Therapeutics, Inc. ("Dragonfly" or the "Company"), reported that it has patented another TriNKET immuno-therapeutic drug for Celgene Corporation and its affiliated companies. ("Celgene") (Press release, Dragonfly Therapeutics, NOV 13, 2019, View Source;809642739.html [SID1234551223]). Today’s announcement marks Celgene’s third participation since the companies announced a malignant hematology tumor collaboration in June 2017, and follows the announcement in December 2018 by Dragonfly of the participation of Celgene to the first two immuno-therapeutic drug candidates TriNKET .

"We continue to be impressed by the quality of the candidates developed using Dragonfly’s TriNKET technology," said Rupert Vessey, FRCP DPhil, President of Research and Early Development for Celgene Corporation. "Since choosing the first two Dragonfly candidates in 2018, we have had the opportunity to further evaluate Dragonfly’s TriNKET drug candidates, and we continue to view encouraging potential therapeutic options for patients with of cancer by harnessing the power of NK cells. "

"We are pleased with the pace of our development efforts and the additional validation of our Celgene adoption adoption platform," said Bill Haney , CEO of Dragonfly. "As we move forward with our own programs, including our DF-1001 clinical stage asset, we look forward to seeing the continued progress of our partner programs. We are looking for new potential options for immuno-oncology treatment for cancer patients. "

Basser Center Launches LATINX & BRCA Awareness Initiative and Celebrates 25 Years Since the Cloning of BRCA1

On November 13, 2019 The Basser Center for BRCA at the Abramson Cancer Center of the University of Pennsylvania reported that it will host its third Basser Jean Bash on November 18th at Cipriani Wall Street (Press release, Basser Center for BRCA, NOV 13, 2019, View Source [SID1234551179]). This year’s Bash celebrates the remarkable progress made by the Basser Center for BRCA, the milestone of the cloning of BRCA1 25 years ago, and the scientific contributions that have advanced the understanding, treatment, and prevention of BRCA-related cancers.

As part of this year’s event, the Basser Center for BRCA will officially launch the LATINX & BRCA initiative, a comprehensive effort to raise awareness, provide education and resources, and build community around BRCA-related cancers. Among the honorees of this year’s event is Nina Garcia, editor-in-chief of Elle magazine, who announced this year that she has a BRCA mutation and underwent preventative treatment, bravely sharing her story publicly along the way.

The Basser Center is the world’s first comprehensive center to focus solely on the prevention and treatment of cancers associated with inherited mutations of the BRCA genes. Founded by University of Pennsylvania alumni Mindy and Jon Gray, President and Chief Operating Officer at Blackstone, the Basser Center was established in 2012 in honor of Mindy’s sister, Faith Basser, who passed away at the age of 44 of BRCA-related ovarian cancer. The Grays have contributed more than $55 million to fund the mission of the Center, and in total the Basser Center has raised $100 million.

The Basser Jean Bash, which is expected to draw 1100 guests, is being generously underwritten so that every dollar raised will support the life-saving mission of the Basser Center for BRCA. To date, this event has raised $8 million, and this year a limited edition denim tote, customized with the distinct Basser logo, will be available for purchase the evening of the event with 100 percent of the proceeds supporting the Basser Center for BRCA.