NEW YORK, Oct. 7, 2020
FinancialBuzz.com News Commentary
NEW YORK, Oct. 7, 2020 /PRNewswire/ -- The economy shows signs of recovery, but fears that the pandemic will hit with a second wave may cause further devastations in the months to come. Besides the research necessary to develop a vaccine, the World Health Organization (WHO) has published a list of medical devices needed at this time, broken down into several categories including personal protective equipment (PPE), medical equipment, medical consumables, single use devices, laboratory and test-related devices. When it comes to testing, there has been a lot of progress in how the virus can be detected. For example, researchers around the world are racing to develop antibody tests, also called serological tests, that can confirm whether someone was infected even after their immune system has cleared the virus. Optec International, Inc. (OTC: OPTI), Dynavax Technologies Corporation (NASDAQ: DVAX), Vaxart, Inc. (NASDAQ: VXRT), BioSig Technologies, Inc. (NASDAQ: BSGM), OPKO Health, Inc. (NASDAQ: OPK)
In the meantime, the importance and utilization of personal protective equipment (PPE) by the public has helped prevent even higher numbers of infected. PPEs are protective clothing, helmets, gloves, face shields, goggles, facemasks and/or respirators. When used properly, PPE acts as a barrier between infectious materials such as viral and bacterial contaminants and your skin, mouth, nose or eyes. Some PPEs are reviewed by the FDA before they can be legally sold in the United States. The manufacturers have to show they meet specific criteria for performance, labeling, and intended use to demonstrate substantial equivalence. The global personal protective equipment (PPE) market was valued at USD 52.7 Billion in 2019 and is expected to reach USD 92.5 Billion by 2025 while growing at a CAGR of 8.7% during 2020-2025, according to VynZ Research.
Optec International, Inc. (OTC: OPTI) announced breaking news that, "the company surpassed the financial income projections for the Quarter ending September 30, 2020.
Interim (unaudited) financial overview can be found at these links:
In summary, the Company surpassed its $4,000,000 projection for this quarter and, in fact, showed revenue and income totaling $6,284,609 and a net income of $3,381,730. In addition, the Company has paid in full all previous convertible institutional notes and the interest and liabilities associated with those notes. The only commercial promissory note remaining will be the premium to market loan when fully funded from financial partner, RB Capital Partners, Inc.
The company has been involved in the sale of larger wholesale transaction quantities of 3M KN 95 masks during this period, adding significantly to the company's revenues and profitability. OPTEC is currently in additional negotiations for significantly larger wholesale mask transactions and due to the size of these transactions will publicly announce upon closing/completion of the same.
The two provisional patents assigned to the company by the "Inventor" company CEO Roger Pawson, are presently being assessed as to a valuation by a professional established patent appraisal group. The professional valuation will be published upon receipt. A conservative estimated valuation was displayed in the valuation statement under the asset's category, and not included as a financial value in the total assets tab. The professional valuation should be included in the official quarterly report published on OTC Markets by November 15th, 2020.
All Previously reported Institutional convertible notes have been fully paid as of September 30, 2020."
For our latest "Buzz on the Street" Show featuring Optec International, Inc., Ltd. recent corporate news, please head over to:
Dynavax Technologies Corporation (NASDAQ: DVAX) reported ack in August a grant from the Bill & Melinda Gates Foundation of $3.4 million to scale up production batch size to allow for increased capacity of Dynavax's CpG 1018 advanced adjuvant to support the global COVID-19 response. These efforts will support capacity of up to 750 million adjuvant doses annually, which can be further increased if needed. "We are honored to receive this funding from the Bill & Melinda Gates Foundation to support development of a much-needed vaccine for COVID-19. This grant facilitates scale up of production capacity to ensure the availability of CpG 1018 for collaboration partners developing adjuvanted vaccines for COVID-19," commented Ryan Spencer, Chief Executive Officer of Dynavax. "We believe adjuvants will play an important role in developing effective vaccines for COVID-19, including for those patients at greatest risk for severe disease. The ability of CpG 1018 to potentially provide an improved immune response and also reduce the amount of vaccine antigen necessary will help provide more vaccine doses to meet the global need."
OPKO Health, Inc. (NASDAQ: OPK) announced back in July that it will accept an Indefinite Delivery Indefinite Quantity (IDIQ) contract award to provide Commercial Surge Capacity Testing for COVID-19 Emergency Response to the Centers for Disease Control and Prevention (CDC). Under the contract with the CDC, BioReference will perform antibody testing to determine COVID-19 seroprevalence, and will provide results with key demographic information and analysis in collaboration with the CDC. The agreement's period of performance began July 20th, 2020, and is ongoing through November 19th, 2020. "Working with the CDC underscores the importance of public, private partnership to achieve a worthwhile COVID-19 response," said Jon R. Cohen, M.D., Executive Chairman of BioReference Laboratories. "Many studies suggest that the majority of the public has not been infected with COVID-19, but multiple factors limit these findings. Together with the leading public health authority, we are leveraging extensive depth and breadth of testing expertise to increase overall understanding of the disease burden of the virus."
Vaxart, Inc. (NASDAQ: VXRT) announced back in September that the U.S. Food and Drug Administration (FDA) has completed its review of the Company's Investigational New Drug (IND) application for its Phase 1 clinical trial evaluating its oral COVID-19 vaccine candidate. The Company also provided an update on its COVID-19 program. "Our goal is to deliver the best, most elegant solution for conferring mass protection against COVID-19. Our oral tablet vaccine offers a much more attractive mode of administration than injectables and may confer superior protection against COVID-19 due to activation of mucosal immunity. Importantly, our room-temperature stable tablet is significantly easier and cheaper to store and distribute to the farthest corners of the US and the globe, as it does not require the very costly and complex refrigerated cold chain needed for injectable vaccines.," said Andrei Floroiu, chief executive officer of Vaxart. "The IND clearance and the initiation of our Phase 1 clinical trial moves us a step closer to proving the superiority of our convenient oral COVID-19 solution in the clinic. We are thus excited to start enrollment for our Phase 1 this month."
BioSig Technologies, Inc. (NASDAQ: BSGM) and its majority owned subsidiary, ViralClear Pharmaceuticals, Inc. reported back in September that it conducted an investor update call on Viral Clear's merimepodib drug development program for the treatment of COVID-19. The size of the ongoing randomized, double-blind, placebo-controlled Phase 2 trial of merimepodib in combination with remdesivir is being increased from 40 to 80 subjects. When the trial was first initiated, it was thought that COVID-19 patients with National Institute of Allergy and Infectious Disease (NIAID) 8-point ordinal scores of 3 and 4 (i.e., hospitalized patients who require non-invasive ventilation and patients who require high flow oxygen devices and supplemental oxygen, respectively) would have similar outcomes in terms of their disease. However, based on a review of blinded data from the ongoing trial, subjects with scores of 3 and 4 are showing distinct differences. All subjects who were admitted with a score of 4 have had an uneventful course of disease and were rapidly discharged from the hospital due to improvement in clinical condition. The subjects who were admitted with a score of 3 fared differently: one group of subjects improved and were discharged from the hospital and are doing well at long-term follow-up, while others have not improved.
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