Announcement • Aug 19
Braxia Scientific Corp., Annual General Meeting, Oct 04, 2024 Braxia Scientific Corp., Annual General Meeting, Oct 04, 2024. Reported Earnings • Mar 03
Third quarter 2024 earnings released: CA$0.003 loss per share (vs CA$0.009 loss in 3Q 2023) Third quarter 2024 results: CA$0.003 loss per share (improved from CA$0.009 loss in 3Q 2023). Revenue: CA$492.4k (flat on 3Q 2023). Net loss: CA$907.0k (loss narrowed 58% from 3Q 2023). Board Change • Dec 05
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jerry Habuda was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 30
Second quarter 2024 earnings released: CA$0.001 loss per share (vs CA$0.01 loss in 2Q 2023) Second quarter 2024 results: CA$0.001 loss per share (improved from CA$0.01 loss in 2Q 2023). Revenue: CA$594.1k (up 31% from 2Q 2023). Net loss: CA$272.8k (loss narrowed 88% from 2Q 2023). Reported Earnings • Aug 02
Full year 2023 earnings released: CA$0.058 loss per share (vs CA$0.069 loss in FY 2022) Full year 2023 results: CA$0.058 loss per share. Revenue: CA$1.88m (up 27% from FY 2022). Net loss: CA$13.1m (loss widened 8.3% from FY 2022). Reported Earnings • Mar 03
Third quarter 2023 earnings released: CA$0.009 loss per share (vs CA$0.015 loss in 3Q 2022) Third quarter 2023 results: CA$0.009 loss per share (improved from CA$0.015 loss in 3Q 2022). Revenue: CA$489.0k (up 51% from 3Q 2022). Net loss: CA$2.17m (loss narrowed 14% from 3Q 2022). Announcement • Feb 08
Braxia Scientific Corp. announced that it expects to receive CAD 1.5 million in funding Braxia Scientific Corp. announced a private placement of up to 27,272,727 units for aggregate gross proceeds of up to CAD 1,499,999.985 on February 7, 2023. Each unit will be comprised of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at a price of CAD 0.07 per common share for a period of three years following the issuance of each warrant. The transaction will include participation from Roger McIntyre for 3,181,818 units for aggregate gross proceeds of CAD 175,000. The placement units will be offered to purchasers resident in each of the Provinces of Canada, except Quebec, and may also be offered by way of private placement in the United States and such other jurisdictions as may be determined by the company. The closing dates is expected to occur on or about February 20, 2023, or such later date or dates as the company may determine, and are subject to certain conditions including, but not limited to, the receipt of a minimum gross proceeds of CAD 750,000 and of all necessary approvals. The transaction may each be closed in one or more tranches. Announcement • Jan 29
Irwin Naturals Inc. (CNSX:IWIN) signed letter of intent to acquire Braxia Scientific Corp. (CNSX:BRAX) for $30 million. Irwin Naturals Inc. (CNSX:IWIN) signed letter of intent to acquire Braxia Scientific Corp. (CNSX:BRAX) for $30 million on January 27, 2023. Under the terms of the LOI, Irwin is prepared to offer a purchase price per Braxia Share based upon a valuation of the outstanding Braxia Shares of $30 million and the purchase price would be payable on closing of the transaction by the issuance of consideration shares to each holder of Braxia shares. The final purchase price per Braxia Share and the exchange ratio will be set forth and determined at the time the arrangement agreement is executed. The number of consideration shares will also be adjusted upward in the event that the total consideration received by holders of Braxia Shares is less than $30 million, to be determined at a specified period of time after the closing date and as set forth in the arrangement agreement. Additionally, under the terms of the LOI and in connection with the transaction, it is expected that the convertible securities of Braxia would, pursuant to the agreement, either remain outstanding in accordance with their terms or be exchanged for substantially similar securities of Irwin.
The transaction is subject to, among other things (i) completion of satisfactory due diligence by each of Braxia and Irwin; (ii) negotiation of and the entering into of a binding definitive Arrangement Agreement in connection with the Proposed Transaction; (iii) receipt of all required corporate approvals from the board of directors of Braxia and Irwin, respectively, and all regulatory and shareholder approvals, including the approval of the CSE and any required third-party consents: and (iv) Braxia having at least $0.431 million (CAD 0.575 million) in working capital immediately before closing on the Closing Date. Reported Earnings • Dec 01
Second quarter 2023 earnings released: CA$0.01 loss per share (vs CA$0.01 loss in 2Q 2022) Second quarter 2023 results: CA$0.01 loss per share (in line with 2Q 2022). Revenue: CA$455.3k (up 18% from 2Q 2022). Net loss: CA$2.34m (loss widened 37% from 2Q 2022). Announcement • Sep 22
Braxia Scientific Corp. Appoints Leann Taylor to Board of Directors Braxia Scientific Corp. announced that Leann Taylor, President and COO of KetaMD Inc., has joined the board of directors. Announcement • Sep 18
Braxia Scientific Corp. Announces Court Approval of Class Action Settlement in Canada Braxia Scientific Corp. announced that the Supreme Court of British Columbia has approved a settlement of a class action lawsuit that was filed in May 2021 against Braxia Scientific, its CEO, certain of its former officers, a shareholder, and underwriters. The Canadian Settlement contemplates a cash payment of CAD 1.9 million, of which the Company will be paying CAD 1.6 million. The court approval of an agreement in principle to settle claims alleged in a securities class action against the Company and certain of its former officers filed in the United States District Court for the Central District of California in April, 2021, remains pending. The US Settlement contemplates a cash payment by the Company of USD 1 million to settle the US Class Action. After available insurance, and assuming the court approval of the US Settlement is obtained, the total cost to the Company to settle both class actions will be approximately CAD 1.36 million. Announcement • Sep 13
Braxia Scientific Corp. Announces It Has Successfully Launched KetaMD in Florida Braxia Scientific Corp. announced it has successfully launched KetaMD in Florida. KetaMD on boarded new patients and completed initial ketamine treatments. Eligible patients, as determined by one of KetaMD's licensed Florida healthcare practitioners, received medically supervised treatments, guided virtually by registered nurses with mental health expertise, while in the comfort of their home. KetaMD Inc. ("KetaMD"), a wholly owned subsidiary of Braxia Scientific, is an innovative end-to-end telemedicine platform, that provides access to safe, affordable, reliable and potentially life-changing at-home ketamine treatments for people suffering from mental health disorders such as depression, bipolar disorder, anxiety and post-traumatic stress disorder (PTSD). In multiple studies, ketamine has also been shown to have rapid and persistent benefits for acute care in suicidal patients who often suffer from mental health challenges. As National Suicide Awareness month kicks off, KetaMD has ramped up operations and session availability to provide additional support to Florida residents in need of treatment. Announcement • Aug 30
Braxia Scientific Launches KetaMD in U.S. Increasing Treatment Access for Mental Health Patients Braxia Scientific Corp. announced the launch of KetaMD, a new end-to-end telemedicine platform, that utilizes leading technology, provides access to safe, affordable, and potentially life-changing at-home ketamine treatments for people suffering from depression and related mental health conditions. Treatments are medically supervised, guided virtually by registered nurses with mental health expertise, and backed by the world's leading psychiatrists and researchers in depression. KetaMD's integration of ketamine and telemedicine is guided by best practices and treatment guidance. KetaMD's innovative technology capabilities provides Braxia the opportunity to offer both patient-centric in-person and digital telehealth ketamine treatments, combined with established clinical research and development capabilities focused on the commercialization and real-world implementation of novel pharmaceuticals. Braxia plans to further augment tools and capabilities of the KetaMD platform, including planning new clinical trials in the U.S. and leveraging Braxia's growing proprietary patient dataset, with patient outcomes, to support potential future development of digital therapeutics in the management of depression and other related mental health conditions. KetaMD is currently available in the State of Florida with a roll-out to other key states to begin in 2022. Announcement • Aug 23
Braxia Scientific Corp., Annual General Meeting, Oct 31, 2022 Braxia Scientific Corp., Annual General Meeting, Oct 31, 2022. Announcement • Aug 04
Braxia Scientific Corp. (CNSX:BRAX) acquired 100% stake in KetaMD, Inc. Braxia Scientific Corp. (CNSX:BRAX) acquired 100% stake in KetaMD, Inc. on August 3, 2022. Holders of KetaMD common stock were issued 42,144,629 Braxia common shares, representing approximately 17.5% of the total issued Braxia common shares on a post-closing basis.,approximately 80.6% of the Consideration Shares are subject to a contractual lock-up, with such Consideration Shares being released in 6-month increments until the final release occurring in 18 months. The KetaMD Common Shareholders will potentially also receive up to 21,915,207 Braxia common shares in the event that (A) the market capitalization of Braxia reaches certain sustainable levels during the period ending on the fifth anniversary of the closing of the Transaction and/or (B) KetaMD achieves certain gross income and EBITDA milestones over the three fiscal years following closing of the Transaction. If issued, the Earnout Shares would represent 8.3% of the issued and outstanding Braxia common shares on a post-closing basis. Certain existing noteholders of KetaMD were issued approximately $2.94 million of convertible debentures of Braxia due December 31, 2023 in exchange for the cancellation of the KetaMD notes, which will provide a conversion right into Braxia common shares at the option of the holder and mandatory conversion by Braxia if not converted or repaid prior to the Maturity Date. Holders of the Debentures will be entitled to convert a portion of their holdings into Braxia common shares as follows: 33% of the principal amount may be converted into Braxia common shares at a price equal to the Benchmark Price prior to December 15, 2023; 33% of the principal amount may be converted into Braxia common shares at a price equal to 150% of the Benchmark Price, or $0.15 per share, prior to December 15, 2023; and 34% of the outstanding principal amount may be converted into Braxia common shares at a price equal to 200% of the Benchmark Price, or $0.20 per share, prior to December 15, 2023. The Debentures contain a mandatory cash prepayment obligation in the event Braxia raises USD $10 million in equity capital prior to the Maturity Date.
Based on the closing price of the Braxia common shares on the CSE on Tuesday August 2, 2022, the total value of the consideration paid for KetaMD, including the amount of USD $0.62 million invested in the KetaMD Notes, but excluding the value of the Earnout Shares, the timing and issuance of which is uncertain, is approximately $6.26 million. Following the Transaction, there are no KetaMD notes outstanding, other than those held by Braxia. The KetaMD Common Shareholders have entered into a voting support arrangement with Braxia pursuant to which they have agreed to support proposed nominees of the board and other shareholder resolutions recommended by the board of Braxia. KetaMD will remain its own standalone brand under the Braxia umbrella and will operate initially in the United States.
Warren Gumpel will continue as Chief Executive Officer of KetaMD and Leann Taylor will continue as President and Chief Operating Officer. Both have signed employment agreements. Taylor will join the board of Braxia following the closing. Zappy Zapolin and Kaia Roman will remain with KetaMD as advisors.
Braxia Scientific Corp. (CNSX:BRAX) completed the acquisition of 100% stake in KetaMD, Inc. on August 3, 2022. Reported Earnings • Jul 31
Full year 2022 earnings released: CA$0.069 loss per share (vs CA$0.56 loss in FY 2021) Full year 2022 results: CA$0.069 loss per share (up from CA$0.56 loss in FY 2021). Revenue: CA$1.49m (up 48% from FY 2021). Net loss: CA$12.1m (loss narrowed 86% from FY 2021). Announcement • Jul 28
Braxia Scientific Corp. Appoints Jason Wolkove as Chief Information Officer Braxia Scientific Corp. announced the addition of Jason Wolkove, Chief Information Officer. Braxia's new Chief Information Officer, Jason Wolkove, is a seasoned technology executive bringing more than 20 years of experience growing complex technical product, sales and service teams and building SaaS software systems. Jason also brings deep expertise in both revenue cycle, data management and mining, and a proven ability to manage product development. He has led teams from concept to delivery through the application, design, and delivery phases in addition to leading technology focused M&A during his tenure with two large financial institutions - Scotiabank and CIBC. Jason is also a founding board member for a rare disease foundation working towards building treatments for children with Neurodegenerative disorders. Announcement • Jun 03
Braxia Scientific Presents Positive Preliminary Findings from Phase II Randomized, Multi Dose Clinical Trial of Psilocybin-Assisted Therapy for Treatment Resistant Depression Braxia Scientific Corp. announced positive preliminary results from the first Health Canada Approved, Phase II, randomized clinical trial to evaluate the feasibility, safety, tolerability, and efficacy of multi-dose psilocybin-assisted therapy for Treatment-Resistant-Depression. The preliminary results were presented at the "From Research to Reality Conference" in Toronto, May 27-28, 2022. Positive Preliminary Results Highlights Bxia ScScientific's ongoing multi-dose psilocybin trial effectively demonstrated the fsibility of BrBraxia's proprietary psilocybin-assisted therapy protocol with high rates of recruitment and retention with adequate tolerability and safety. Clinically meaningful improvements in depression severity observed (as measured by the MADRS1) with complete analysis of antidepressant efficacy and secondary outcomes pending. This trial will be completed by December 2022 at which point the full analysis will be completed and submitted for publication. Preliminary results indicate strong feasibility with adequate recruitment including 159 individuals who were referred to the study. Retention -- 93% of participants retained to primary endpoint. Safety -- No serious adverse events and zero suicide attempts to date. Tolerability -- majority of adverse effects resolving within 24 hours of each dose and 87% of participants requesting to receive a second dose. Feasibility of Braxia Institute psychedelic therapy training program demonstrated through recruiting, retaining, and training group of multi-disciplinary independently licensed therapists that continue to serve as therapists as part of Braxia's psilocybin trial. Group of therapists consists of psychiatrists, primary care therapists, psychotherapists and spiritual care. mymptoms of depression were assessed using the Montgomery-Åsberg depressionating scale (MADRS), a widely used and accepted scale for assessing depression. Braxia Scientific was the first to receive Health Canada approval for a multi-dose psilocybin-assisted therapy clinical trial in July 2021, and dosed its first participant in November 2021. This ongoing clinical trial provides Canadians with immediate access to psilocybin for treatment resistant depression. Recently, Braxia Scientific also recently announced its among the first to receive approval for psilocybin-assisted therapy treatment approval in Ontario using Health Canada's Special Access Program (SAP). The SAP was amended January 5th, 2022 to include access to psychedelic compounds on a case-by-case basis outside of clinical trials. Announcement • May 21
Braxia Scientific Corp. Receives Health Canada Special Access Program Approval to Provide Psilocybin-Assisted Therapy for Depression in Ontario Braxia Scientific Corp. announced that Health Canada has approved the Company's application to the Special Access Program (SAP) to provide psilocybin-assisted psychotherapy for a patient with Major Depressive Disorder in Ontario, through its wholly owned subsidiary Canadian Rapid Treatment Centre of Excellence (CRTCE). While this is Braxia Scientific's first psilocybin-assisted therapy treatment approval using Health Canada's SAP, which was amended January 5, 2022 to include access to psychedelic compounds on a case-by-case basis outside of clinical trials, Braxia Scientific was first to receive Health Canada approval for a multi-dose psilocybin-assisted therapy clinical trial in July 2021, dosing its first participant in November 2021. To date, the Company has provided psilocybin-assisted therapy to 16 individuals living with depression. Announcement • May 10
Certification and Hearing to Approve Proposed Settlement of Braxia Scientific Corp. Securities Class Action The parties to a proposed class action commenced against Braxia Scientific Corp. (formerly known as Champignon Brands Inc.), William Gareth Birdsall, Lucas Birdsall, Roger McIntyre, Stephen Brohman, Canaccord Genuity Corp., Eight Capital and Gravitas Securities Inc. have reached a proposed settlement of the claim which is subject to approval by the Supreme Court of British Columbia. The class action has now been certified. This notice provides information about this proposed settlement and related matters and how to exclude yourself ("opt-out") out of the class action. The class action was commenced on behalf of all persons and entities who acquired securities of Braxia Scientific Corp. ("Braxia") either: in Braxia's private placement which closed on June 11, 2020; or on a stock exchange between May 12, 2020 and March 11, 2021 and held all or some of those securities until the open of trading on February 17, 2021 and/or until the close of trading on March 11, 2021, and who: are residents of Canada or were residents of Canada at the time of such acquisitions, regardless of the location of the exchange on which they acquired Braxia's securities, provided that they opted out of the parallel U.S. class action if they bought their Braxia securities on the over-the-counter market in the United States; or acquired Braxia's securities on a stock exchange in Canada or another exchange located outside of the United States, regardless of where they reside or are domiciled. The proposed settlement amount is CAD 1,900,000, including Class Counsel's fees, applicable taxes and expenses, and interest. The Defendants do not admit any wrongdoing or liability. By agreeing to the proposed settlement, the parties avoid the costs and uncertainty of a trial and delays in obtaining judgment. Board Change • Apr 27
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Jerry Habuda is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 31
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Jerry Habuda is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 04
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: CA$0.015 loss per share. Revenue: CA$324.9k (flat on 3Q 2021). Net loss: CA$2.52m (flat on 3Q 2021). Revenue was in line with analyst estimates. Announcement • Feb 01
Braxia Scientific Corp. Provides Update on Large Proprietary Dataset Expected to Support Pharmaceutical and Industry Clinical Trials for Ketamine and Psilocybin Drug Development Braxia Scientific Corp. provided an update on the company's leading research role within the psychedelics industry. As the company continues to focus on developing innovative treatments for depression, including potential ketamine derivatives, Braxia Scientific's team of researchers also continue to carry out multiple psychedelic-based clinical research trials, adding to the Company's large and growing proprietary dataset critical to informing future drug development. To date, Braxia Scientific has compiled comprehensive health data from administering more than 5,200 ketamine treatments at its network of clinics. Additionally, Braxia Scientific's researchers have published 43 ketamine-related manuscripts in peer-reviewed biomedical journals, and the Canadian Rapid Treatment Centre of Excellence, a wholly owned Braxia subsidiary, has established a growing database with key clinical outcomes for an ongoing clinical trial evaluating psilocybin-assisted therapy. Building on management's extensive clinical expertise, the Company has expanded the necessary infrastructure to provide innovative interventions that include ketamine, psilocybin and other potential future psychedelics that become available. The Company also continues to exhibit itself as a leader in the psychedelics industry, establishing treatment protocols and best practice guidelines, including for innovative potential therapies, such as psilocybin. The Company's leadership is illustrated by the publication by the American Journal of Psychiatry of the International Expert Opinion and Implementation Guidance, led by Braxia Scientific's leaders, which outlines Ketamine and Esketamine treatment parameters and sets the standard for the clinical implementation of rapid-acting treatments in persons with treatment-resistant depression. Announcement • Jan 12
Braxia Scientific Corp. announced that it has received CAD 3 million in funding On Janaury 10, 2022, Braxia Scientific Corp. closed the transaction. Announcement • Jan 08
Braxia Scientific Corp. announced that it expects to receive CAD 3 million in funding Braxia Scientific Corp. announced a non-brokered private placement of 30,000,000 common shares at a price of CAD 0.10 per share for gross proceeds of CAD 3,000,000 on January 6, 2022. The company has entered into a securities purchase agreement with institutional investors for the transaction. The company will also issue warrants to purchase up to an aggregate of 30,000,000 common shares. Each warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.125 per common share for a period of five years following the issuance date. No securities were offered or sold to Canadian residents in connection with the transaction. The transaction is expected to close on or about January 10, 2022, subject to satisfaction of customary closing conditions. Reported Earnings • Dec 03
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: CA$0.01 loss per share. Revenue: CA$385.5k (flat on 2Q 2021). Net loss: CA$1.71m (flat on 2Q 2021). Revenue was in line with analyst estimates. Announcement • Aug 28
Braxia Scientific Comments on US Class Action Braxia Scientific Corp. reported that it was served with a class action complaint against the Company, its former CEO and president, for the violation of US federal securities laws. The complaint was filed in the US District Court Central District of California and alleges that the Company and the individual defendants violated ss. 10(b) and 20(a) of the Securities and Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The claim is based on allegations relating to the Company's disclosure documents regarding four acquisitions made by the Company in 2020 and related matters. The plaintiff is seeking an unspecified amount of damages for the proposed class. Announcement • Jun 30
Braxia Scientific Corp. Launches Psilocybin-Assisted Clinical Therapy Training Program to Develop New Generation of Qualified Physicians, Psychotherapists and Psychologists for Mental Health Braxia Scientific Corp. announced it has launched its psilocybin-assisted clinical therapy training program. Through this program, Braxia will develop, train and support a new generation of qualified, skilled in best practices independent medical physicians, psychologists and psychotherapists to implement safe and effective psilocybin-assisted therapy for patients with depression. The therapists will participate in the provision of psychotherapy in upcoming clinical trials at Braxia evaluating the safety and efficacy of psilocybin in depression. The Company anticipates that, pending regulatory approval of psilocybin, therapists would also be trained to implement psychedelics in clinical practice. Psilocybin-Assisted Therapy is a rapidly growing and evolving area of interest for medical professionals, clinicians and patients with multiple mental health conditions including depression. Psilocybin-assisted therapy combines the effects of psilocybin with the support of a qualified and trusted therapist. The psychotherapy component of the psilocybin treatment allows a patient to process the psilocybin experience with the therapist, providing the basis for a better outcome with treatment. Braxia's psilocybin-assisted clinical training is an exciting new program for independent and qualified physicians, psychologists and psychotherapists that are passionate about helping people with mental conditions such as treatment-resistant depression. Trainees will experience and learn through didactic teaching, peer teaching, group discussion and simulations followed by a practicum component. Through the practicum, medical professionals will gain experience in administering psilocybin-assisted therapy for participants with depression as part of any approved clinical trial. Through this program, medical professionals will be fully competent to perform psilocybin-assisted therapy for future clinical trials and possibly clinical care, upon any future regulatory approval of psilocybin. Announcement • Jun 18
Braxia Scientific Corp. Receives Government of Canada Funding to Complete First of its Kind Ketamine Clinical Trial for Bipolar Depression Braxia Scientific Corp. announced that Dr. Josh Rosenblat, Braxia Scientific's Chief Medical and Science Officer, has been awarded and received funding by the Canadian Institute of Health Research (CIHR), of the Government of Canada, to support the first of its kind Ketamine clinical trial for Bipolar Depression. The fully funded study, representing the largest registered trial of its kind in the world, will investigate the use, safety and efficacy of repeated doses of intravenous (IV) Ketamine in patients with Bipolar Depression. Currently only two treatments are Health Canada approved for Bipolar Depression. In Canada, approximately 2-3% of the population experience bipolar disorder and it is reported that approximately two-thirds of persons receiving conventional treatment for Bipolar Depression do not fully recover, underscoring the unmet need. This new federal investment will enable the Braxia led research teams to further advance studies of IV Ketamine to support its approval as a safe, effective and rapid-acting alternative treatment for patients with Bipolar Depression. 
