BARD1 Life Sciences Limited (ASX:BD1), a health sector company and biotechnology colonist, is focussed at commercialising and developing a blood test for the detection of lung cancer. This revolution that the company aims to process is technology centred and based on therapeutic applications and potential diagnosis of multiple cancers. It has been awarded with new patents for the test of ovarian and lung cancer.
Today, 1 May 2019, BARD1 Life Sciences Limited announced that it has received Issue notification from the United States Patent and Trademark Office (USPTO), which confirms the issue of US Patent no 10,273,475. The patent (Regulation of BARD1 expression by non-coding RNA) is directed towards siRNA to focus and reduce the expression of BARD1 9’L . Filed on 12 July 2015, the patent would be expiring on 12 July 2035.
Apart from this, the company either owns or licenses 5 patent families and has 11 granted and 19 pending patents covering its realm of technology, products and uses across the prime market locations, inclusive of the US, Europe, China and Japan.
BD1 published its quarterly reports for the quarter ending March 2019 on April 30, 2019. The consolidated highlights of this report are discussed below:
- The net cash used in operating activities stood at A$697k.
- Cash and cash equivalents at the end of quarter amount to a total of A$3,011k as against A$3,708k in the previous quarter.
- Total estimated cash outflows for the next quarter is projected to be A$845k.
On 1st April 2019, the BD1 stock price witnessed an increment by 37.5% to AUD 0.022 with shares worth 58.11 million traded.
Further this year in February, BD1 had undertaken a cancer vaccine study in collaboration with the Institute for Respiratory Health and shared the following results:
- A 5-peptide BARD1 vaccine depicted delayed tumour growth and better survival.
- The vaccine had no effect on the lung, colon or breast cancer mouse models.
- With an optimistic approach and encouraging results, further research would be conducted to evaluate the doses and vaccinations.
In its half -yearly comprehensive income statement, released for the year ended 31 December 2018, the Net loss for the period after income tax expense was A$879,642.
In its half yearly report, published in February, the revenue of the company was $27,567 which was 4.6% less when compared to the prior period of 2017 ($28,884). The net loss for the period after income tax expenses was $879,642. The total assets were valued at 3,750,025 as on 31 December 2019. The liabilities stand at $389,721. Taking the reference from the same statement, below are the highlights of the cash flow statement for this half year (ended 31 December 2018):
The net cash used in the operating activities was $827,138. The net amount from financing activities was reported at $3,094,693, while the cash and cash equivalents at the end of the period were noted at $3,713,212.
Share price information:
As at 2:35 PM AEST on May 1, 2019, the shares of BD1 are priced at A$0.020 and is up by 17.647% compared to its last trade.
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