On March 12, 2020 Kitov Pharma Ltd. ("Kitov") (NASDAQ/TASE: KTOV), a clinical-stage company advancing first-in-class therapies to overcome tumor immune evasion and drug resistance, reported pricing of a public offering of 20,000,000 units at a price to the public of $0.30 per unit, for gross proceeds of $6.0 million, before deducting placement agent fees and other offering expenses payable by Kitov (Press release, Kitov Pharmaceuticals , MAR 12, 2020, View Source [SID1234555545]). Each unit contains one American Depositary Shares ("ADS") (or ADS equivalent) and one warrant to purchase one ADS. Each ADS represents one ordinary share, no par value, of Kitov. The ADSs (or ADS equivalents) and warrants included in the units can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance.

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H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The warrants will have an exercise price of $0.325 per ADS and will be exercisable at any time after the date of issuance and will expire five years from the date of issuance.

The closing of the sale of the securities is expected to take place on or about March 16, 2020, subject to satisfaction of customary closing conditions.

Kitov intends to use the net proceeds of this offering to fund the development of its oncology drug candidates, acquisition of new assets and for general working capital purposes.

The offering is being made under an effective registration statement on Form F-1 (File No. 333-235729) filed with the Securities and Exchange Commission (the "SEC") and declared effective on March 11, 2020. The offering is being made only by means of a prospectus forming part of the effective registration statement. The final terms of the offering will be disclosed in a final prospectus to be filed with the SEC and made available on the SEC’s website at www.sec.gov. When available, electronic copies of the final prospectus relating to the offering may also be obtained by contacting H.C. Wainwright & Co., 430 Park Avenue, New York, NY 10022, by telephone at (646) 975-6996 or by email at [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 the registration or qualification under the securities laws of any such state or jurisdiction.

On March 12, 2020 Helix BioPharma Corp. (TSX: "HBP") ("Helix" or the "Company"), an immuno-oncology company developing innovative drug candidates for the prevention and treatment of cancer, reported it has closed a private placement financing of 5,042,016 units of the Company ("Units") at a price of $1.0332 per Unit, and the concurrent disposition of 1,708,023 shares of the Company’s Polish subsidiary, Helix Immuno-Oncology S.A. ("HIO"), to a third-party purchaser, representing an 15.5% equity stake in HIO (together with the Units, the "Purchased Securities"), for aggregate gross proceeds of CAD $6,000,000, or $1.19 per Purchased Security (Press release, Helix BioPharma, MAR 12, 2020, View Source [SID1234555544]).

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Each Unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share at an exercise price of $1.67 and have an expiry of five years from the date of issuance. The terms of the private placement also included the concurrent disposition by the Company of 1,708,023 shares of HIO, representing 15.5% of the outstanding shares of HIO. Following the disposition, the Company owns 51% of the outstanding shares of HIO.

The Company intends to use the net proceeds of the private placement for working capital and research and development activities.

ACM Alpha Consulting Management AG provided financial advisory services to Helix in connection with the private placement.

On March 12, 2020 Galmed Pharmaceuticals Ltd. (Nasdaq: GLMD) ("Galmed" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of Aramchol, a liver targeted, oral, SCD1 modulator, currently in a Phase 3 clinical trial for the treatment of nonalcoholic steatohepatitis (NASH) and fibrosis provides reported financial results for the three and twelve months ended December 31, 2019 (Press release, Galmed Medical Research, MAR 12, 2020, View Source [SID1234555521]). The Company will host a conference call and webcast at 08:30 ET today.

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Financial Summary – Full Year 2019 vs. Full Year 2018; 4Q19 vs. 4Q18:

For the three and twelve months ended December 31, 2019, the Company recorded a net loss of $8.3 and $20.5 million or $0.39 and $0.97 per share, respectively, compared with a net loss of $3.7 million and $9.9 million, or $0.18 and $0.54 per share, for the three and twelve months ended December 31, 2018.

Research and development expenses were $18.2 million for the twelve months ended December 31, 2019, compared with $8.3 million for the twelve months ended December 31, 2018. For the three months ended December 31, 2019, research and development expenses totaled $7.4 million, which compares with $2.7 million for the same period in 2018. The increase during the three and twelve months is mainly due to the preparation and initiation of the ARMOR study.

The Company incurred general and administrative expenses of $4.2 million for the twelve months ended December 31, 2019, compared with $4.4 million for the twelve months ended December 31, 2018. For the three months ended December 31, 2018, general and administrative expenses totaled $1.3 million, which compares with $1.5 million for the same period in 2018. The decrease primarily resulted from a decrease in salaries and benefits expenses of approximately $0.5 million due to lower year-end bonuses.

During the three and twelve months ended December 31, 2019, the Company recognized a net financial income of $0.3 million and $1.9 million, respectively, compared with $0.5 and $0.9 million, respectively, during 2018. The increase during the twelve months ended December 31, 2019 is mainly due to an increase in interest income from marketable debt securities and short-term deposits, as compared to such income in 2018.

Cash and cash equivalents, restricted cash, short-term deposits and marketable debt securities totaled $75.6 million as of December 31, 2019, compared with $90.2 million as of December 31, 2018. The decrease is mainly attributable to our $14.9 million negative cash flow from operations during the twelve months ended December 31, 2019.
Conference Call & Webcast:

Thursday, March 12th @ 8:30am Eastern Time.

Toll Free:

1-877-425-9470

Toll/International:

1-201-389-0878

Israel Toll Free:

1-809-406-247

Conference ID:

13699345

Webcast:

View Source

Replay Dial-In Numbers

Toll Free:

1-844-512-2921

Toll/International:

1-412-317-6671

Replay Pin Number:

13699345

Replay Start:

Thursday, March 12, 2020, 11:30 AM ET

Replay Expiry:

Thursday, March 26, 2020, 11:59 PM ET

About Aramchol and Non-alcoholic Steatohepatitis (NASH)
Aramchol (arachidyl amido cholanoic acid) is a novel fatty acid bile acid conjugate, inducing beneficial modulation of intra-hepatic lipid metabolism. Aramchol’s ability to modulate hepatic lipid metabolism was discovered and validated in animal models, demonstrating downregulation of the three key pathologies of NASH: steatosis, inflammation and fibrosis. The effect of Aramchol on fibrosis is mediated by downregulation of steatosis and directly on human collagen producing cells. Aramchol has been granted Fast Track designation status by the FDA for the treatment of NASH.

NASH is an emerging world crisis impacting an estimated 3% to 5% of the U.S. population and an estimated 2% to 4% globally. It is the fastest growing cause of liver cancer and liver transplant in the U.S. due to the rise in obesity. NASH is the progressive form of non-alcoholic fatty liver disease that can lead to cardiovascular disease, cirrhosis and liver-related mortality.

On March 12, 2020 ViewRay, Inc. (Nasdaq: VRAY) reported financial results for the fourth quarter and full year ended December 31, 2019 (Press release, ViewRay, MAR 12, 2020, View Source [SID1234555520]). A supplemental presentation for today’s conference call is included on the Company’s website at View Source

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Full Year 2019 Highlights:

Total revenue of $87.8 million compared to 2018 revenue of $81.0 million, which is primarily from 15 revenue units including two system upgrades in each respective year.
Received 22 new orders for MRIdian systems, including three upgrades, totaling $118.5 million, compared to 23 new orders totaling $140.7 million in 2018.
Total backlog increased to $227.3 million as of December 31, 2019, compared to $212.3 million as of December 31, 2018.
Cash and cash equivalents were $226.8 million as of December 31, 2019. The Company received aggregate net proceeds of $138.4 million, after deducting underwriting discounts and commissions and offering expenses payable by the Company, from its December 2019 offering.
Fourth Quarter 2019 Summary:

Total revenue was $16.5 million in the quarter, primarily from three revenue units including one system upgrade, compared to $20.7 million, primarily from four revenue units including one system upgrade, for the same period last year.
Received four new orders for MRIdian systems totaling approximately $21.2 million in the fourth quarter of 2019, compared to eight new orders for MRIdian systems totaling approximately $48.7 million for the same period last year.
"In 2019 we built significant organizational expertise, made progress on our innovation and clinical pipelines, and fortified our balance sheet," said Scott Drake, President and CEO. "As we look at 2020, our commercial and operational activities are being impacted by the coronavirus and may be further impacted depending upon how the situation unfolds. As we look beyond the coronavirus uncertainty, we are confident in the capabilities we have built and how MRIdian is positioned to improve the paradigm of care."

Financial Results

Total revenue for the three months ended December 31, 2019 was $16.5 million compared to $20.7 million for the same period last year. Total revenue for the full year 2019 was $87.8 million compared to $81.0 million for the full year 2018.

Total cost of revenue for the three months ended December 31, 2019 was $20.4 million compared to $20.1 million for the same period last year. Total cost of revenue was $93.3 million for the full year 2019 compared to $74.4 million for the full year 2018.

Total gross (loss) profit for the three months ended December 31, 2019 was $(3.9) million, compared to $0.6 million for the same period last year. Total gross (loss) profit for the full year 2019 was $(5.5) million compared to $6.6 million for the full year 2018.

Total operating expenses for the three months ended December 31, 2019 were $28.4 million, compared to $22.1 million for the same period last year. Total operating expenses for the full year 2019 were $115.3 million for the full year 2019 compared to $81.7 million for the full year 2018.

Net loss for the three months ended December 31, 2019 was $35.2 million, or $0.31 per share, compared to $16.7 million, or $0.17 per share, for the same period last year. Net loss for the full year 2019 was $120.2 million, or $1.18 per share, compared to $79.1 million, or $0.98 per share, for the full year 2018.

ViewRay had total cash and cash equivalents of $226.8 million at December 31, 2019. From its December 2019 offering, the Company received aggregate net proceeds of $138.4 million, after deducting underwriting discounts and commissions and offering expenses payable by the Company.

Financial Guidance

For the full year 2020, ViewRay anticipates total revenue to be in the range of $58 – $95 million, and total cash usage to be in the range of $60 – $80 million. Most notably, commercial and operational activities are being impacted and may be further impacted by the coronavirus. ViewRay has nine planned installations in 2020 in regions that have travel restrictions currently in place.

Conference Call and Webcast

ViewRay will hold a conference call to discuss results on Thursday, March 12, 2020 at 4:30 p.m. ET / 1:30 p.m. PT. The dial-in numbers are (844) 277-1426 for domestic callers and (336) 525-7129 for international callers. The conference ID number is 6095383. A live webcast of the conference call will be available on the investor relations page of ViewRay’s corporate website at www.viewray.com.

After the live webcast, a replay of the webcast will remain available online on the investor relations page of ViewRay’s corporate website, www.viewray.com, for 14 days following the call. In addition, a telephonic replay of the call will be available until March 19, 2020. The replay dial-in numbers are (855) 859-2056 for domestic callers and (404) 537-3406 for international callers. Please use the conference ID number 6095383.

On March 12, 2020 BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, reported that it will release fourth quarter 2019 financial and operating results on Thursday, March 19, 2020 after the close of the U.S. financial markets and will host a conference call and webcast that day at 4:30 p.m. ET / 1:30 p.m. PT to discuss the results and corporate developments (Press release, Biolase Technology, MAR 12, 2020, View Source [SID1234555519]).

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For both "listen-only" participants and those participants who wish to take part in the question-and-answer portion of the call, the dial-in number in the U.S./Canada is 800-353-6461. For international participants outside the U.S./Canada, the dial-in number is 334-323-0501. For all callers, refer to the Conference ID 7830999. To access the live webcast, go to BIOLASE Investor Events Page.

An audio archive of the webcast will be available for 30 days on the Investors section of the BIOLASE website.