Life Science News

  • 2022 Revenue will include sales of VINIA® and Cannabis, both with high gross margins
  • Major investments in the BioFarming platform and Intellectual property
  • New patent application covers a 700% increase in Bioreactor production output

BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or "the Company") announces that following the successful over-delivery of revenue targets versus guidance provided in 2021, the Company is estimating 2022 revenue to be between USD $5M-$7M, representing a significant growth of 2.5X-3.5X over 2021. The range in guidance is due to two primary determinants; the speed in which the biological technology transfer to its new 20 Tonyear facility is completed, and regulatory timelines influencing the conversion of the existing 2 Tonsyear facility from VINIA to the production of Cannabis.

The Company is also projecting to achieve break-even cash flow in 2023, when the business reaches its first scaling point. For 2022, BioHarvest plans to continue to invest heavily in R&D (as a percentage of total revenue) and in the building of manufacturing capacity for its Cannabis vertical in Israel and abroad.

Consistent with being a biotech innovator, the Company will continue to hire additional scientists, conduct further clinical trials, and invest in further strengthening its IP portfolio. The Company recently applied for a new patent related to its Cannabis scale-up process, given its successful growing of Cannabis in Industrial Bioreactors which achieved a 700% production scaling increase versus previous levels. BioHarvest remains the only company in the world capable of growing Cannabis trichomes in liquid media leading to Cannabis biomass production without growing the plant itself.

Ilan Sobel, CEO of BioHarvest, said, "I look forward to an outstanding year with significant revenue growth and major technological achievements. The 2022 projected revenue guidance demonstrates the growing demand for our VINIA® product and the anticipation for our Cannabis solutions. Our proprietary BioFarming platform technology creates the opportunity to expand the Company's product offering both vertically and horizontally and we look forward to bringing innovative product solutions to the market. We also plan to start R&D development on a new vertical in 2022 where our platform technology can provide a disruptive solution for unmet consumer needs. For the above reasons we will continue to make significant investments in this platform that would solidify BHSC as a Biotech innovator and yield healthy long-term growth and profitability."

All interested media and investors are invited to attend an 'Introduction to BioHarvest' webinar on January 26, at 11 am PST. The event will include a live Question and Answer session. Please register: Introduction to BioHarvest | BioHarvest Sciences (livestorm.co)

About BioHarvest Sciences Inc.

BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit: www.bioharvest.com.

BioHarvest Sciences Inc.
Ilan Sobel, Chief Executive Officer

For further information, please contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Email: dave@bioharvest.com

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Forward-Looking Statements

Information set forth in this news release includes forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that strong sales metrics experienced to date will result in future demand or that proposed additional marketing expenditures will result in increased sales. Markets for nutraceuticals are unpredictable and subject to changes in consumer tastes and trends as well as economic factors beyond our control. Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance, and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. There is no assurance that the Company sales revenue for 2022 will reach USD 5 to 7 million and there is no assurance that the Company cash flow breaking point will be achieved in 2023. There is no assurance of commercial availability of our Cannabis product in 2022 or that the Company achieves the conversion of the two tons VINIA® facility to Cannabis production in 2022. These things are subject to construction and approval delays and uncertainties that may be beyond the control of BioHarvest. Projected sales of Cannabis will require the Company to obtain production and/or export licensing which cannot be assured.

All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.

Readers are cautioned that revenue alone do not give an accurate picture of the financial position of the Company and should be read in the context of the Company's annual and quarterly financial statements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111712

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BHSC:CNX
BioHarvest Sciences

BioHarvest Sciences


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BioHarvest Sciences Unveils Profile of Unique Cannabis Composition

BioHarvest Sciences Unveils Profile of Unique Cannabis Composition

  • Full spectrum profile to include major and minor Cannabinoids as well as Terpenes
  • Unique trichome structure provides for potentially higher solubility and bio-availability 
  • With Trichomes representing 93% of the Cannabis biomass produced using the proprietary Bio-Plant CELLicitation™ technology, taste bitterness is significantly reduced

BioHarvest Sciences Inc. the (CSE: BHSC) ("BioHarvest" or the "company") today unveiled the composition profile of its full-spectrum Cannabis produced in large-scale industrial bioreactors based on its proprietary Bio-Plant CELLicitation™ platform technology.

On December 8th, 2021, BHSC became the first company ever to announce that it could produce Cannabis biomass without growing the plant itself. The revealing of the unique composition profile of its first product comes as BioHarvest gears up for potential Cannabis commercialization - optimizing the manufacturing process, perfecting measurement techniques, transitioning the 2-ton/year facility to Cannabis and applying for the necessary regulatory approvals.

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BioHarvest Sciences Inc. Announces a Private Placement of up to USD $5 Million of Convertible Notes to Finance Production Facilities and Scaling of Core Business

BioHarvest Sciences Inc. Announces a Private Placement of up to USD $5 Million of Convertible Notes to Finance Production Facilities and Scaling of Core Business

BioHarvest Sciences Inc. (CSE: BHSC) (OTC:CNVCF) (FSE: 8MV) ("BioHarvest" or the "Company") announced today a financing plan based on a private placement of up to USD $5 Million (approximately $6.3 Million CAD). The funds raised will allow the Company to accelerate the growth plan for its polyphenolsantioxidants and Cannabis verticals.

On March 23, 2021, BHSC announced the completion of the Company's Cannabis R&D program, marking the start of the proposed transition to commercial scale manufacturing. BioHarvest plans to bring its first Cannabis products to market in 2022 and will be converting the current VINIA® 2 tons/year facility in Rehovot, Israel to produce Cannabis. This is happening in conjunction with the transition of all VINIA ® manufacturing to the new 20 tons/year facility in Yavneh, Israel, which will provide the required VINIA ® production capacity to scale VINIA® sales in the US. The transition to Cannabis manufacturing in Israel, combined with the planned incremental marketing spend for VINIA® in the USA, requires additional financing which the Company will seek to raise by issuing up to $5 Million USD of Convertible Notes (the "Notes").

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Bioharvest Sciences Inc. Reports Strong Q1 2022 Results on All of the Company's Activities

Bioharvest Sciences Inc. Reports Strong Q1 2022 Results on All of the Company's Activities

  • VINIA® sales orders grew 112% compared to Q1 2021 to reach USD 787k
  • Reiterating guidance for year-on-year sales orders growth of 2.5-3.5X to reach USD 5M - 7M
  • Started the transition of VINIA® production at new 20 tons/year facility enabling the scaling of VINIA® sales and conversion of current 2 tons/year facility to Cannabis
  • Produced a unique Cannabis composition in large industrial scale Bioreactors enabling the commercialization and sales of Cannabis products in H2 2022

BioHarvest Sciences Inc. (CSE: BHSC) (OTC PINK: CNVCF) (FSE:8MV) ("BioHarvest" or "the Company") today announced Q1 2022 sales of its flagship VINIA® product reached USD 787k, representing 112% growth compared to the same quarter of last year.

BioHarvest also had a strong quarter in R&D execution, highlighted by a March 23 declaration of successful completion of its Cannabis R&D program with production of Cannabis biomass in large-scale industrial bioreactors - signaling the start of commercialization of the Cannabis product. BioHarvest is in the process of transitioning the current R&D license to a production license ahead of launching a unique Cannabis composition into the market in H2 2022.

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Bioharvest Sciences Inc. Successfully Completes Cannabis R&D Program

Bioharvest Sciences Inc. Successfully Completes Cannabis R&D Program

  • Now producing Cannabis biomass in large scale industrial bioreactors under the current R&D license.
  • Commencing the process of transitioning the current Israeli Cannabis R&D license to a production license.

BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or the "Company") today announced that it has produced Cannabis Biomass in large scale industrial bioreactors, which represents the completion of the Company's Cannabis R&D program.

On December 8th, 2021, BHSC became the first company ever to announce that it could produce Cannabis biomass without growing the plant itself. Building on that breakthrough, the Company has made significant progress, and has now produced Cannabis in large scale industrial bioreactors, marking the start of the transition to commercial scale manufacturing. To that end, the Company has commenced the process to obtain a production license in Israel for its Cannabis products to complement the R&D license it has used to date for the Cannabis development program.

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BioHarvest Sciences Inc. Quarterly Shareholder Update Live Event April 7, 2022, at 2:00 PM E.T.

BioHarvest Sciences Inc. Quarterly Shareholder Update Live Event April 7, 2022, at 2:00 PM E.T.

BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or "the Company") invites its shareholders and the general public to join a Live Video Conference ("Webinar") on Thursday, April 7, 2022, at 2:00 PM Eastern Standard Time (11:00 AM Pacific Standard Time).

BioHarvest Sciences CEO Ilan Sobel will host the event, which will include an unveiling of the 2022 Growth Priorities, including a detailed performance update on the commercialization of the Company's two primary product verticals, Polyphenol Antioxidants and Cannabis/Hemp.

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The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of IBM, MYPS and AUPH

The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff

International Business Machines Corporation (NYSE:IBM)
Class Period: April 4, 2017 - October 20, 2021
Lead Plaintiff Deadline: June 6, 2022

Throughout the class period, International Business Machines Corporation allegedly made materially false and/or misleading statements and/or failed to disclose that: (i) Strategic Imperatives Revenue and growth, CAMSS and CAMSS Components' revenue and growth, and the Company's Segments' revenue and growth were artificially inflated as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives Revenue; (ii) the Company's present success and positive future growth prospects concerning its Strategic Imperative business strategy were being fueled by the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperative Revenue and, as a result (iii) the Company misled the market by portraying the Company's Strategic Imperative's financial performance and future prospects more favorable than they actually were as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives.

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The Gummy Project

Potent Ventures Announces The Gummy Project Selected by Sweets & Snack Expo Committee to Participate in Power Pitch During Sweets & Snacks Expo

Potent Ventures Inc. (CSE: POT) (FSE: 0OS) (OTCQB: POTVF) ("Potent" or the "Company") is pleased to announce that The Gummy Project is one of two companies selected from the show's Startup Street to participate in Power Pitch at Sweets & Snacks Expo on May 24, 2022.

Power Pitch provides selected companies with an opportunity to showcase their products in a sales pitch-style presentation to a panel of leading US retailers, including the following:

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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of ABBV, UPST and AXSM

The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery

ABBVie Inc. (NYSE:ABBV)

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Gilead and Kite Oncology to Highlight Advances Supporting New Innovations in Cancer Care at the ASCO Annual Meeting

Late-Breaking TROPiCS-02 Study Results in Heavily Pre-Treated HR+HER2- Metastatic Breast Cancer Patients to be Featured in ASCO Press Program –

New Sub-Analysis from Kite's ZUMA-7 CAR T-cell Therapy Study in Patients Aged 65+ and Data by Tumor Burden Characteristics in Second-Line Large B-cell Lymphoma to be Presented

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Investor Reminder: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline in Securities Fraud Class Action Lawsuit Filed Against AbbVie, Inc.

The law firm of Kessler Topaz Meltzer & Check, LLP(www.ktmc.com) informs investors that the firm has filed a securities class action lawsuit against ABBVie, Inc. (ABBVie) (NYSE:ABBV) on behalf of all persons and entities who purchased or otherwise acquired ABBVie securities between April 30, 2021, and August 31, 2021, inclusive (the "Class Period

CLICK HERE TO SUBMIT YOUR ABBVIE LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/abbvie-inc?utm_source=PR&utm_medium=link&utm_campaign=abbvie&mktm=r

CANNOT VIEW THIS VIDEO? PLEASE CLICK HERE

TO VIEW OUR COMPLAINT, PLEASE CLICK HERE

LEAD PLAINTIFF DEADLINE: JUNE 6, 2022

CLASS PERIOD: APRIL 30, 2021 through AUGUST 31, 2021

CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS: James Maro, Esq. (484) 270-1453 or Email at info@ktmc.com

Kessler Topaz is one of the world's foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.

ABBVIE'S ALLEGED MISCONDUCT

AbbVie is one of the world's largest pharmaceutical companies. The company's revenues will come under significant pressure in the coming years when its best-selling drug, Humira, will lose patent protection in 2023. Accordingly, AbbVie's future revenue and earnings depend in large part on its ability to develop new sources of revenue to offset Humira's lost sales. Rinvoq-an anti-inflammatory drug manufactured by AbbVie and used to treat rheumatoid arthritis (RA) and other diseases by inhibiting Janus kinase (JAK) enzymes-was touted as one such drug. Rinvoq was initially approved in the United States to treat only moderate to severe RA. However, AbbVie was actively pursuing additional treatment indications and, in 2020, asked the U.S. Food and Drug Administration (FDA) to approve Rinvoq for the treatment of several other diseases.

As is relevant here, Rinvoq is similar to other JAK inhibitor drugs, including Xeljanz, manufactured by Pfizer Inc. When the FDA approved Xeljanz in 2012 for the treatment of RA, it required an additional safety trial to evaluate Xeljanz's risk of triggering certain serious side effects. Beginning in February 2019, the FDA repeatedly warned the public that the safety trial indicated that Xeljanz's use could lead to serious heart-related issue, cancer, and other adverse events. Notwithstanding the similarities between Rinvoq and Xeljanz, during the Class Period, Defendants assured investors that Rinvoq was far safer than Xeljanz and not subject to the same regulatory risks.

However, investors began to learn the truth about Rinvoq's significant risks on June 25, 2021, when AbbVie revealed that the FDA was delaying its review of expanded treatment applications for Rinvoq due to the safety concerns associated with Xeljanz. On this news, the price of AbbVie common stock declined $1.76 per share, or approximately 1.5%, from a close of $114.74 per share on June 24, 2021, to close at $112.98 per share on June 25, 2021.

Then, on September 1, 2021, the FDA announced that final results from the Xeljanz safety trial established an increased risk of serious adverse events, even with low doses of Xeljanz. As a result, the FDA determined that it would require new and updated warnings for Xeljanz and Rinvoq because Rinvoq "share[s] similar mechanisms of action with Xeljanz" and "may have similar risks as seen in the Xeljanz safety trial." The FDA also indicated that it would further limit approved indications for Rinvoq as a result of these safety concerns. On this news, the price of AbbVie common stock declined $8.51 per share, or more than 7%, from a close of $120.78 per share on August 31, 2021, to close at $112.27 per share on September 1, 2021.

After the Class Period, on December 3, 2021, AbbVie announced that the FDA had updated Rinvoq's label to require additional safety warnings and limit marketing of Rinvoq to only its use after treatment with other drugs has failed. On January 11, 2022, Defendants admitted that these changes to Rinvoq's label would negatively impact sales, forcing the Company to reduce its long-term guidance for Rinvoq's sales in 2025.

The complaint alleges that, throughout the Class Period, the Defendants made materially false and/or misleading statements, about the company's business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) safety concerns about Xeljanz extended to Rinvoq and other JAK inhibitors; (2) as a result, it was likely that the FDA would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) therefore, Defendants' statements about the company's business, operations, and prospects lacked a reasonable basis, As a result of the Defendants' wrongful acts and omissions, and the significant decline in the market value of AbbVie's securities, AbbVie investors have suffered significant damages.

WHAT CAN I DO?

AbbVieinvestors may, no later than June 6, 2022, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLPor other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages AbbVie investors who have suffered significant losses to contact the firm directly to acquire more information.

CLICK HERE TO SIGN UP FOR THE CASE

WHO CAN BE A LEAD PLAINTIFF?

A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com

SOURCE: Kessler Topaz Meltzer & Check, LLP



View source version on accesswire.com:
https://www.accesswire.com/701263/Investor-Reminder-Kessler-Topaz-Meltzer-Check-LLP-Reminds-Investors-of-Deadline-in-Securities-Fraud-Class-Action-Lawsuit-Filed-Against-AbbVie-Inc

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IBM, ABBV, & TWTR Class Actions: Bronstein, Gewirtz & Grossman, LLC, A Leading Class Action Firm Reminds Investors to Actively Participate

Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff

Bronstein, Gewirtz and Grossman, LLC, Tuesday, May 17, 2022, Press release picture

International Business Machines Corporation (NYSE:IBM)

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