3D Signatures Inc. (TSXV:DXD) (OTCQB:TDSGF) (FSE:3D0) (the “Company” or “3DS”), a personalized medicine company with a proprietary software platform based on the three-dimensional analysis of chromosomal signatures, today reported operational and financial results for its fiscal second quarter ended December 31, 2017.
3D Signatures Inc. (TSXV:DXD) (OTCQB:TDSGF) (FSE:3D0) (the “Company” or “3DS”), a personalized medicine company with a proprietary software platform based on the three-dimensional analysis of chromosomal signatures, today reported operational and financial results for its fiscal second quarter ended December 31, 2017. 3DS also announced that it has terminated its investor relations services agreement with Terry Bramhall of Clearcut communications.
Second Quarter Operational Highlights
The primary operational milestones achieved in the Company’s second financial quarter of 2018 include completion of the clinical study component of its Telo-HLTM validation program, announced October 10, 2017, as well as two non-brokered private placements totaling $2,622,673, announced October 4th and December 5th, 2017. 3DS also announced on October 10, 2017, that two new patents governing high-resolution imaging in cancer progression and the stratification of Alzheimer’s patients had been issued by the United States Patent and Trademark Office.
Telo-HLTM is intended to provide clinicians with the first biomarker to identify the 15% – 20% of new Hodgkin’s lymphoma patients who will likely fail standard chemotherapy, and who should immediately be considered for more advanced treatment or inclusion into clinical trials to access emerging treatments such as immunotherapies. The Company believes that Telo-HLTMcould provide several advantages to patients and healthcare system payers, including potentially indicating new treatment options, enabling shortened treatment cycles, reducing complications from ineffective treatments and allowing for treatment cost savings.
Subsequent to the end of the quarter, on February 20, 2018, the Company announced positive topline results from its Telo-HLTM study. Preliminary third-party analysis of the study data for Telo-HLTM shows that the Company’s TeloViewTM platform is able to distinguish, with a high degree of statistical significance, multiple differences between a patient group that responds to standard ABVD chemotherapy, and a group that relapses or is refractory to treatment within the first 12 months.
Six Month Financial Summary
Through efforts that are still ongoing, the Company significantly reduced its monthly burn rate and recorded a net loss of $2,621,655 ($0.05 per Common Share) for the six months ended December 31, 2017 compared to $4,976,684 ($0.13 per Common Share) for the six months ended December 31, 2016.
As at December 31, 2017, the Company had cash resources of $1,422,134 compared to $1,200,395 as at June 30, 2017. As at December 31, 2017 the Company had working capital of $1,016,957 compared to working capital of $1,329,408 as at June 30, 2017.
The Company’s financial statements and management’s discussion and analysis are available on www.sedar.com.
3DS (TSX-V:DXD) (OTCQB:TDSGF) (FSE:3D0) is a personalized medicine company with a proprietary software platform, TeloView™, that is designed to predict the course of certain diseases and to tailor treatment options for the individual patient. The technology is based on the three-dimensional analysis of telomeres, the protective caps at the ends of chromosomes. 3DS’ TeloView™ software platform measures the organization of the genome and its correspondence to; the stage of a given disease, the rate of progression of the disease, how different diseases will respond to various therapies, and a drug’s efficacy and toxicity. 3DS’ proprietary imaging software is designed to go beyond identifying whether a patient suffers from a specific disease or condition. Instead, the TeloViewTM platform is designed to inform clinicians and patients with respect to how to personalize treatment and best manage an individual’s disease based on their unique TeloView ScoreTM. As healthcare moves increasingly toward better informed, patient-centric approaches, the Company intends for the TeloViewTM platform to deliver personalized medicine that allows for better treatments, leading to better outcomes.
The TeloViewTM platform is supported by 25 clinical studies involving more than 3,000 patients and 20 different cancers, plus Alzheimer’s disease. 3DS benefits from twenty years of research, $25M of non-dilutive investment into its platform and more than 130 supporting publications, and holds a portfolio of patents related to three-dimensional telomere analysis for proliferative diseases, including (but not limited to) hematological disorders such as Hodgkin’s lymphoma, multiple myeloma, and chronic myeloid leukemia. 3DS’ intellectual property portfolio also covers prostate cancer, breast cancer, lung cancer, melanoma, colorectal cancer, and Alzheimer disease.
For more information, visit the Company’s website at: http://www.3dsignatures.com.
For further information, please contact:
CEO & Director
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements which constitute “forward looking information” within the meaning of applicable Canadian securities legislation (“Forward-Looking Statements”). All statements included herein, other than statements of historical fact, are Forward Looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-Looking Statements. Often, but not always, these Forward Looking Statements can be identified by the use of words such as “estimates”, “potential”, “open”, “future”, “assumes”, “projects”, “anticipates”, “believes”, “may”, “continues”, “expects”, “plans”, “will”, “to be”, or statements that events “could” or “should” occur or be achieved, and similar expressions, including negative variations.
Such Forward-Looking Statements reflect the Company’s current views with respect to future events, are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by 3DS as of the date of such statements, are inherently subject to significant medical, scientific, business, economic, competitive, political and social uncertainties and contingencies. Many risk factors could cause the Company’s actual results, performance, achievements, prospects or opportunities to be materially different from any future results, performance or achievements that may be expressed or implied by such Forward Looking Statements, including risks related to 3DS’ management’s discretion over the actual application of the net proceeds and ability to allocate proceeds differently from what is described herein; the risk that the Telo-HLTM test may not be commercially launched as an LDT by the first quarter of 2018, or at all; uncertainties related to 3DS’ clinical studies and test development; risks related to the volatility of the price of 3DS’ common shares; risks related to the possibility that 3DS’ shareholders may experience dilution; risks related to 3DS’ requirements for additional financing and future access to capital, including the risk that the proceeds raised under the Private Placement may be insufficient to finance 3DS’ business objectives; the risk that a positive return on an investment in 3DS’ common shares is not guaranteed; risks related to 3DS’ intention to retain earnings and not pay cash dividends on its common shares in the foreseeable future; risks related to 3DS’ early stage of development; the risk that 3DS’ tests will not be successfully deployed; risks related to 3DS’ dependence on third parties, including collaborative partners, licensors and others; risks related to 3DS’ clinical study recruitment; that there is currently no market for 3DS’ products and that such market may be slow to develop if at all; risks related to 3DS’ reliance on key personnel; risks related to the competitive nature of the biotechnology industry; risks related to 3DS’ limited operating history, lack of revenue, history of losses and inability to assure that it will earn profits in the future or that profitability will be sustained; risks related to government regulation; risks related to rapid technological change; risks related to the fact that 3DS’ software may now or in the future contain undetected errors, bugs or vulnerabilities; the risk that 3DS or its directors and officers may be subject to a variety of civil or other legal proceedings, with or without merit, including product liability claims; risks related to the protection of 3DS’ intellectual property rights; risks related to 3DS’ limited sales, marketing and distribution experience; risks related to the possibility that 3DS’ directors and officers may be placed in a conflict of interest as a result of their employment or affiliation with third parties, risks related to 3DS’ use and storage of personal information and compliance with applicable privacy laws, as well as those risks discussed under the heading “Risk Factors” in the Company’s management’s discussion and analysis dated November 29, 2017 and filed on SEDAR. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the Forward Looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
In making the Forward-Looking Statements, the Company has made various material assumptions including, but not limited to, obtaining positive results from 3DS’ current and planned clinical studies and research and development initiatives; that the Telo-HLTM test will be commercially launched as an LDT by the first quarter of 2018; obtaining regulatory approvals with respect to 3DS’ clinical studies which are now ongoing or may in the future be commenced; 3DS’ ability to successfully develop its tests; assumptions regarding general business and economic conditions; that 3DS’ current positive relationship with third parties will be maintained; the availability of future financing on reasonable terms; 3DS’ ability to attract and retain skilled staff; assumptions regarding market competition and the products and technology offered by 3DS’ competitors; and 3DS’ ability to protect patents and proprietary rights.
3DS believes that the assumptions and expectations reflected in the Forward-Looking Statements in this press release are reasonable, but no assurance can be given that these expectations will prove to be correct. Forward Looking Statements should not be unduly relied upon. This information speaks only as of the date of this press release, and 3DS will not necessarily update this information, unless required to do so by securities laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.