STRATA Skin Sciences Secures additional $12 Million Financing

 STRATA Skin Sciences, Inc. (NASDAQ: SSKN), a medical technology company dedicated to developing, commercializing and marketing innovative products for the treatment of dermatologic conditions, today announced that it has completed the refinancing of its existing debt agreement with a new facility from MidCap Financial (MidCap). The new debt facility consists of a refinancing of the existing $8.0 million term loan and an additional $7.0 million tranche funded at closing. The Company also has the option to receive an additional $5 million tranche in 2024.

“We are pleased to complete this debt refinancing and enter into a new term agreement with MidCap,” commented Chris Lesovitz, Chief Financial Officer of STRATA Skin Sciences. “We have increased our cash position to approximately $10 million, further strengthening our balance sheet and providing the liquidity required to execute our strategic growth initiatives and mitigate the need for an interim equity raise.”

The facility matures on June 1, 2028, and shall be payable monthly in arrears at an annual rate of Adjusted Term Secured Overnight Financing Rate (SOFR) plus 7.50%, subject to a SOFR floor of 3.50%. The term provides for interest only-payments until June 1, 2026, and straight-line amortization for the remaining term. “Adjusted Term SOFR '' means the per annum rate equal to the sum of (i) 30-day forward-looking secured overnight Term SOFR, as published by CME Group Benchmark Administration Limited from time to time, plus 0.10% reset monthly. The Company also amended and restated the existing warrant previously issued so that it has an exercise price of $0.88 per share to purchase 800,000 shares of the Company’s common stock to MidCap. The Company agreed to register the shares underlying this warrant for resale.

https://finance.yahoo.com/news/strata-skin-sciences-secures-additional-115300174.html

ABCAM PLC: Prelim results, outlook

 Abcam plc ("Abcam," "Company," "Group") (Nasdaq: ABCM), a global leader in the supply of life science research tools, today provides the following preliminary trading update for the half ending 30 June 2023.

Preliminary results

Period	Estimated Reported Revenue	Estimated Adjusted Operating Profit %
H1 2023	>£203 million	>26%

 

First half 2023 estimated revenues grew approximately 10% on a reported basis or 5.5% on a constant exchange rate basis as compared to 20% growth on a constant exchange rate basis in the comparable prior period. Adjusted operating profit margin is up by approximately 300 basis points to >26% for the half. Total revenue and adjusted operating profit are trending in-line with first half and full year 2023 Board expectations.

The company continues to see improvements in transactional Net Promoter Score, exiting H1 at +37 for June.

Note:

This trading update is based upon unaudited management accounts and has been prepared solely to provide additional information on trading to the shareholders of Abcam plc. All figures are provisional and subject to further review. It should not be relied on by any other party for other purposes. tNPS score reflects June 2023 month end, the six-month average was +13.

FY2023 Outlook

The Company is reiterating reported revenue guidance of £420 million to £440 million, representing 15% to 20% constant exchange rate revenue growth and adjusted operating profit margins of 27% to 28% with expected adjusted EBITDA margins of 36.5% to 37%.

Adjusted operating profit margins will exclude exceptional costs related to the suspended EGM, strategic review and the ongoing cost refinement program.

The Company will present half-year 2023 results on 31 August 2023 at 4:30pm EDT.

FY2024 Outlook

The Company is reiterating 2024 reported revenue outlook of £475 million to £525 million[1], adjusted operating profit margins of 32% to 36%, and adjusted EBITDA margins of 42% to 46%.

https://finance.yahoo.com/news/abcam-plc-trading-201500499.html

Reata started at Outperform by TD Cowen

 Target $140

https://finviz.com/quote.ashx?t=RETA&ty=c&ta=1&p=d

'Congressional Psychedelics Caucus Chairs Applaud FDA For Releasing Research Guidance'

 The bipartisan co-chairs of a congressional psychedelics caucus are touting the Food and Drug Administration’s (FDA) new draft guidance on researching substances like psilocybin and MDMA.

Reps. Lou Correa (D-CA) and Jack Bergman (R-MI), who founded the Psychedelics Advancing Therapies (PATH) Caucus last year, applauded the agency in a joint statement on Wednesday, commending FDA for “their considerable work in releasing the non-binding guidance for comment regarding the clinical study and development of psychedelic therapies for those suffering from mental and behavioral health conditions.”

They noted that FDA has already designated psilocybin and MDMA as “breakthrough therapies” for the treatment of severe depression and post-traumatic stress disorder (PTSD), respectively.

“As our country continues to suffer tragic rates of suicide and opioid overdose deaths, which disproportionately impact our Nation’s military Veterans, it is critical that policymakers such as those in our caucus pursue additional pragmatic measures—alongside the relevant agencies—to ensure that those who would benefit most from these potentially lifesaving therapies can get access as soon as possible,” the congressmen said.

The release of the draft guidance came just days after another set of bipartisan lawmakers filed a bill that specifically asked the agency to take that step.

Reps. Dan Crenshaw (R-TX), Mariannette Miller-Meeks (R-IA) and Ro Khanna (D-CA) also reacted to the FDA move last week, crediting it for making progress in a way that was responsive to their legislation.

FDA’s draft guidance provides scientists with a framework to carry out research that could lead to the development of psychedelic medicines. A 60-day public comment period is open for interested parties to submit feedback on how final guidance should be shaped.

Interest in psychedelics has grown exponentially over recent years as cities and states across the country have moved to promote research, remove criminal penalties and regulate access to entheogenic substances.

The agency’s draft guidance “describes basic considerations throughout the drug development process including trial conduct, data collection, subject safety and new drug application requirements,” FDA said.

The related bipartisan bill filed last week called on the secretary of the U.S. Department of Health and Human Services (HHS), acting through the FDA commissioner, to “issue for public comment draft guidance on considerations for conducting clinical trials for psychedelic assisted therapy, including how those seeking an investigational use exemption for such clinical trials should request interactive support by the Food and Drug Administration.”

If enacted, it would have required FDA to produce that draft guidance within 180 days. But the agency was evidently prepared to release it much sooner. The bill would also mandate FDA to finalize its guidance 180 days after the draft document’s publication, so lawmakers may still be interested in advancing the measure with that provision.

https://www.marijuanamoment.net/congressional-psychedelics-caucus-chairs-applaud-fda-for-releasing-research-guidance-to-develop-novel-medicines/

'Biotricity Reports Strong Start to Fiscal Year 2024'

 Company estimates Q1-FY24 revenue to grow YOY by over 40%

• Recurring technology fees, customer second-device sales, continue to trend higher

 Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitor sector of consumer healthcare, today reported a strong start to its Fiscal Year 2024 ending March 31, 2024 and provided a preliminary estimate of its revenue for its first quarter of fiscal year 2024.

For the first fiscal quarter ended June 30, 2023, the Company expects to report an approximate increase in revenue which represents growth of over 40% YOY from the corresponding prior year quarter and expects to achieve continued reduction in expenses.

Dr. Waqaas Al-Siddiq, Biotricity Founder & CEO, commented, "Based on robust first quarter revenue growth and our early read on the quarter's sales and operating metric trends - including customer retention -- I am fully confident our business will continue to scale as planned and show strong growth throughout fiscal year 2024.

"Our products and biosphere platform model, and vertical sales strategy of complementary products, continues to strengthen," Dr. Waqaas added. "Since launching our Biocare app in January of this year, we have had over 10,000 downloads. Our second product -- BiotresTM- is rapidly gaining traction industrywide with new and existing customer purchases exceeding our internal forecast. It will set a company record for the time to reach its $2 million run rate."

https://finance.yahoo.com/news/biotricity-reports-strong-start-fiscal-123500259.html

AstraZeneca cut to Hold by Deutsche Bank

 From Buy

https://finviz.com/quote.ashx?t=AZN&p=d

Neurocrine Bio: BMO Capital Markets upgrades to market perform from underperform.

  PT up 1.5% to $96.

https://www.marketscreener.com/quote/stock/NEUROCRINE-BIOSCIENCES-I-10163/