Announcement • Jun 10
Covalon Technologies Ltd. Announces the Appointment of Murray Miller to Its Board of Directors as an Independent Director Covalon Technologies Ltd. announced the appointment of Dr. Murray Miller to its Board of Directors (Board) as an independent director subject to TSX Venture Exchange approval. Dr. Miller graduated as a Medical Doctor from the University of Manitoba in 1982. He completed his residency in Radiology at the University of Toronto. Dr. Miller has served as a physician and practice leader at Ontario hospitals and community clinics since then. Dr. Miller has held leadership positions in medical associations and has served as an advisor to a number of biotech and medical technology companies. In connection with the appointment of Dr. Miller to the Board, the Company has granted to Dr. Miller an aggregate of 22,222 Deferred Share Units (DSUs) for all of Dr. Millers annual directors fees for fiscal year 2026 as opposed to cash. The DSUs were granted under the Companys Amended and Restated Omnibus Long-Term Incentive Plan (the LTIP) adopted effective on March 25, 2026. The DSUs will vest 12 months from the date of grant. Reported Earnings • May 22
First quarter 2026 earnings released: EPS: CA$0.005 (vs CA$0.044 in 1Q 2025) First quarter 2026 results: EPS: CA$0.005 (down from CA$0.044 in 1Q 2025). Revenue: CA$6.89m (down 16% from 1Q 2025). Net income: CA$125.4k (down 90% from 1Q 2025). Profit margin: 1.8% (down from 15% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 68% growth forecast for the Biotechs industry in Canada. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 22
Consensus EPS estimates increase by 29%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from CA$36.4m to CA$35.2m. EPS estimate rose from CA$0.07 to CA$0.09. Net income forecast to grow 188% next year vs 72% decline forecast for Biotechs industry in Canada. Consensus price target of CA$2.90 unchanged from last update. Share price rose 3.1% to CA$2.01 over the past week. Announcement • May 15
Covalon Technologies Ltd. to Report Q2, 2026 Results on May 21, 2026 Covalon Technologies Ltd. announced that they will report Q2, 2026 results at 9:30 AM, US Eastern Standard Time on May 21, 2026 Major Estimate Revision • Mar 04
Consensus EPS estimates fall by 42% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CA$38.4m to CA$36.4m. EPS estimate also fell from CA$0.12 per share to CA$0.07 per share. Net income forecast to grow 172% next year vs 16% decline forecast for Biotechs industry in Canada. Consensus price target of CA$2.90 unchanged from last update. Share price rose 4.9% to CA$1.91 over the past week. Reported Earnings • Feb 26
First quarter 2026 earnings released First quarter 2026 results: Revenue: CA$6.89m (down 16% from 1Q 2025). Net income: CA$125.4k (down 90% from 1Q 2025). Profit margin: 1.8% (down from 15% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 60% growth forecast for the Biotechs industry in Canada. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Feb 23
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Samantha Nutt was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 19
Covalon Technologies Ltd. to Report Q1, 2026 Results on Feb 25, 2026 Covalon Technologies Ltd. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on Feb 25, 2026 Announcement • Jan 14
Covalon Technologies Ltd., Annual General Meeting, Mar 25, 2026 Covalon Technologies Ltd., Annual General Meeting, Mar 25, 2026. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CA$1.86, the stock trades at a forward P/E ratio of 16x. Average trailing P/E is 22x in the Biotechs industry in North America. Total loss to shareholders of 19% over the past three years. Reported Earnings • Dec 11
Full year 2025 earnings released: EPS: CA$0.08 (vs CA$0.11 in FY 2024) Full year 2025 results: EPS: CA$0.08 (down from CA$0.11 in FY 2024). Revenue: CA$32.8m (up 5.3% from FY 2024). Net income: CA$2.06m (down 23% from FY 2024). Profit margin: 6.3% (down from 8.6% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 73% growth forecast for the Biotechs industry in Canada. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Dec 04
Covalon Technologies Ltd. to Report Q4, 2025 Results on Dec 11, 2025 Covalon Technologies Ltd. announced that they will report Q4, 2025 results Pre-Market on Dec 11, 2025 Announcement • Oct 21
Covalon Technologies Ltd. Declares First Ever Special Cash Dividend, Payable on November 18, 2025 Covalon Technologies Ltd. announced that its Board of Directors has declared a special cash dividend (the “Special Dividend”) in the aggregate amount of CAD 4,112,711.55, being CAD 0.15 per common share of the Company to be paid on November 18, 2025 to shareholders of record at the close of business on November 4, 2025 (the “Record Date”). Announcement • Sep 26
Covalon Technologies Ltd. Presents Evidence-Backed Innovations Making A Difference for Critically Ill Children At Aphon Covalon Technologies Ltd. presented evidence-backed innovations making a difference for critically ill Children At Aphon. The company announced its participation in the Association of Pediatric Hematology/Oncology Nurses (APHON) 49th Annual Conference, September 25-27, 2025 in Providence, Rhode Island. The annual conference, attended by more than 800 nurse leaders from across the United States and around the world, is recognized as the premier educational experience for pediatric hematology/oncology nurses, bringing together clinicians and industry experts to advance knowledge, share research, and improve patient outcomes. Last week, the Journal of the Association for Vascular Access (JAVA) published peer-reviewed data from the Children's Hospital at Montefiore describing how the hospital's experience with VALGuard®? Line Guard was associated with positive outcomes, including a 78% reduction in hospital-wide CLABSI rates from 2023 to 2024, and a sustained period of zero CLABSI's (Central Line Associated Blood Stream Infections) in the Pediatric Critical Care Unit. The publication provides peer-reviewed evidence on VALGuard®? and highlight its role in protecting vulnerable pediatric patients. In addition, new economic findings from a U.S. hospital study demonstrated that CovaClear®? silicone dressing, used as a cover for primary dressings, greatly helped reduce unplanned dressing changes caused by soiling, leaks, or contamination. Avoiding unplanned dressing changes translates into measurable cost savings for hospitals and reduced workload for nurses, while preserving skin integrity for patients who already face intensive therapies. These findings underscore the dual impact of Covalon's portfolio which is designed to improve patient outcomes while creating measurable efficiencies for hospitals seeking to optimize both quality of care and economic performance. At APHON, Covalon will showcase the breadth of its vascular access portfolio, including: VALGuard®? Line Guard - A transparent, single-use barrier designed to cover and protect IV line connections and catheter hubs from external contaminants, including body fluids and secretions that can lead to infection. VALGuard®? incorporates a unique quick-release pull strip that enables fast access to the line for clinicians. CovaClear®? Dressings - A family of versatile gentle-to-skin silicone dressings that can be used as a primary IV securement dressing or as a protective cover over existing primary dressings. By helping reduce unplanned primary IV dressing changes caused by soiled, fluid leaks, or external contamination, CovaClear®? helps customers save money on wasted supplies, reduce nursing workload, and supports efforts to preserve patient skin integrity. IV Clear®? Dressings - Afamily of transparent IV securement dressings that combine gentle-to-skin silicone adhesive technology with edge-to-edge coverage of chlorhexidine and silver for antimicrobial protection. IV Clear®? provides complete transparency to the insertion site, supporting routine assessment and better line management. The company's solutions are designed not only to support better outcomes for patients but also to provide hospitals with measurable savings and long-term value. Announcement • Sep 24
Covalon Technologies Ltd. Announces Board Changes Covalon Technologies Ltd. announced that Mr. Abe Schwartz has been elected Chair of the Board of the Company. Mr. Schwartz succeeds Mr. Amir Boloor, who has decided to step down as a director and Executive Chair of Covalon with effect September 23, 2025. Mr. Schwartz, a member of the Covalon Board since 2008, has previously served as Covalon Board Chair from 2012 until 2020. He has been a successful Healthcare and I.T. industry entrepreneur, CEO and investor over the past 50 years and is Covalon’s largest shareholder. Reported Earnings • Aug 22
Third quarter 2025 earnings released: EPS: CA$0.002 (vs CA$0.059 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.002 (down from CA$0.059 in 3Q 2024). Revenue: CA$8.37m (down 9.2% from 3Q 2024). Net income: CA$64.6k (down 96% from 3Q 2024). Profit margin: 0.8% (down from 16% in 3Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 68% growth forecast for the Biotechs industry in Canada. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CA$2.88, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 17x in the Biotechs industry in North America. Total returns to shareholders of 7.5% over the past three years. Announcement • Aug 14
Covalon Technologies Ltd. to Report Q3, 2025 Results on Aug 21, 2025 Covalon Technologies Ltd. announced that they will report Q3, 2025 results Pre-Market on Aug 21, 2025 Reported Earnings • May 29
Second quarter 2025 earnings released: EPS: CA$0.02 (vs CA$0.059 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.02 (down from CA$0.059 in 2Q 2024). Revenue: CA$7.59m (down 9.8% from 2Q 2024). Net income: CA$429.1k (down 71% from 2Q 2024). Profit margin: 5.7% (down from 17% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 62% growth forecast for the Biotechs industry in Canada. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 27
Covalon Technologies Ltd. Announces New Clinical Research Evaluating Vascular Access Line Guard Covalon Technologies Ltd. announced that exciting results from a clinical study evaluating the use of its VALGuard Vascular Access Line Guard will be presented at two notable scientific meetings in the fall and are advancing through the publication process in a well-regarded academic journal. The study, conducted independent of Covalon, was a prospective pre- and post- intervention study of VALGuard across critical and acute care units focused on the reduction of Central Line-Associated Blood Stream Infections (CLABSIs). As the authors advance the study through the final stages of the peer review process toward publication, they look forward to presenting their findings to their peers at two prestigious scientific conferences this fall - September's Association for Vascular Access Annual Scientific Meeting, the premier platform for the latest innovations and emerging technologies in vascular access, followed by October's American Nurses Credentialing Center (ANCC) Magnet Pathway Conference, which attracts more than 11,000 nursing leaders and professionals from around the world. Announcement • May 21
Covalon Technologies Ltd. to Report Q2, 2025 Results on May 28, 2025 Covalon Technologies Ltd. announced that they will report Q2, 2025 results Pre-Market on May 28, 2025 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CA$2.60, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 22x in the Biotechs industry in North America. Total returns to shareholders of 18% over the past three years. Reported Earnings • Feb 21
First quarter 2025 earnings released: EPS: CA$0.04 (vs CA$0.035 loss in 1Q 2024) First quarter 2025 results: EPS: CA$0.04 (up from CA$0.035 loss in 1Q 2024). Revenue: CA$8.17m (up 75% from 1Q 2024). Net income: CA$1.21m (up CA$2.06m from 1Q 2024). Profit margin: 15% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 64% growth forecast for the Biotechs industry in Canada. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 14
Covalon Technologies Ltd. to Report Q1, 2025 Results on Feb 21, 2025 Covalon Technologies Ltd. announced that they will report Q1, 2025 results Pre-Market on Feb 21, 2025 Reported Earnings • Jan 07
Full year 2024 earnings released: EPS: CA$0.11 (vs CA$0.18 loss in FY 2023) Full year 2024 results: EPS: CA$0.11 (up from CA$0.18 loss in FY 2023). Revenue: CA$31.2m (up 17% from FY 2023). Net income: CA$2.67m (up CA$7.13m from FY 2023). Profit margin: 8.6% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 53% growth forecast for the Biotechs industry in Canada. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 06
Covalon Technologies Ltd., Annual General Meeting, Mar 19, 2025 Covalon Technologies Ltd., Annual General Meeting, Mar 19, 2025. Announcement • Dec 19
Covalon Technologies Ltd. to Report Q4, 2024 Results on Jan 07, 2025 Covalon Technologies Ltd. announced that they will report Q4, 2024 results at 9:30 AM, US Eastern Standard Time on Jan 07, 2025 New Risk • Sep 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (6.0% increase in shares outstanding). Market cap is less than US$100m (CA$84.9m market cap, or US$62.6m). Reported Earnings • Aug 22
Third quarter 2024 earnings released: EPS: CA$0.06 (vs CA$0.02 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.06 (up from CA$0.02 loss in 3Q 2023). Revenue: CA$9.22m (up 47% from 3Q 2023). Net income: CA$1.45m (up CA$1.95m from 3Q 2023). Profit margin: 16% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Aug 14
Covalon Technologies Ltd. to Report Q3, 2024 Results on Aug 21, 2024 Covalon Technologies Ltd. announced that they will report Q3, 2024 results Pre-Market on Aug 21, 2024 Reported Earnings • May 30
Second quarter 2024 earnings released: EPS: CA$0.06 (vs CA$0.028 loss in 2Q 2023) Second quarter 2024 results: EPS: CA$0.06 (up from CA$0.028 loss in 2Q 2023). Revenue: CA$8.41m (up 16% from 2Q 2023). Net income: CA$1.46m (up CA$2.16m from 2Q 2023). Profit margin: 17% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • May 24
Covalon Technologies Ltd. to Report Q2, 2024 Results on May 29, 2024 Covalon Technologies Ltd. announced that they will report Q2, 2024 results Pre-Market on May 29, 2024 Reported Earnings • Feb 29
First quarter 2024 earnings released: CA$0.03 loss per share (vs CA$0.015 loss in 1Q 2023) First quarter 2024 results: CA$0.03 loss per share (further deteriorated from CA$0.015 loss in 1Q 2023). Revenue: CA$4.66m (down 25% from 1Q 2023). Net loss: CA$851.5k (loss widened 124% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Jan 28
Full year 2023 earnings released: CA$0.18 loss per share (vs CA$0.36 loss in FY 2022) Full year 2023 results: CA$0.18 loss per share (improved from CA$0.36 loss in FY 2022). Revenue: CA$26.6m (up 47% from FY 2022). Net loss: CA$4.46m (loss narrowed 52% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 6% per year. Announcement • Dec 21
Covalon Technologies Ltd., Annual General Meeting, Mar 06, 2024 Covalon Technologies Ltd., Annual General Meeting, Mar 06, 2024. Announcement • Oct 12
Covalon Technologies Ltd. to Showcase Innovative Solutions at the Prestigious ANCC National Magnet Conference in Chicago Covalon Technologies Ltd. announced its participation in the American Nurses Credentialing Center (ANCC) Magnet Conference. Scheduled from October 12 to October 14, 2023, in Chicago, this conference is the largest conference for nurse professionals. All attendees are invited to booth 1835 at the McCormick Place Convention Center, where they can experience first-hand, innovative compassionate care solutions designed to elevate patient care standards and nursing excellence. Covalon's patented infection prevention and wound care products include: VALGuard® - a transparent, environmental barrier designed to protect catheter hubs and line connections from external contaminants and gross contamination, including body fluids and other secretions. It incorporates a quick-release pull strip for fast access to infusion hubs and for easy removal. IV Clear® - the world's only dual-antimicrobial vascular access dressing that offers complete transparency at and around the insertion site for easy daily assessment. It also utilizes soft silicone adhesive technology to minimize skin injuries and preserve skin barrier functions, and incorporates safe amounts of antimicrobials, without sacrificing efficacy, to protect against chemical irritation. SurgiClear® - the world's only dual-antimicrobial clear postoperative dressing that provides full surgical site visibility, allowing for visual site inspection and thus eliminating the need for early and multiple dressing removals. Announcement • Sep 28
Covalon Technologies Ltd. Announces Chief Executive Officer Changes Covalon Technologies Ltd. appointed Amir Boloor, Chair of the Company’s Board, as Interim Chief Executive Officer, effective immediately following the departure of Brian Pedlar. The Board has commenced a search for a permanent CEO. Mr. Boloor succeeds Brian Pedlar, who will remain on Covalon’s Board of Directors. Announcement • Sep 27
Covalon Technologies Ltd. Appoints Joseph Cordiano as Independent Director Covalon Technologies Ltd. appointed Joseph Cordiano to serve as lead independent director. Reported Earnings • Aug 17
Third quarter 2023 earnings released: CA$0.02 loss per share (vs CA$0.062 loss in 3Q 2022) Third quarter 2023 results: CA$0.02 loss per share (improved from CA$0.062 loss in 3Q 2022). Revenue: CA$6.27m (up 39% from 3Q 2022). Net loss: CA$501.8k (loss narrowed 69% from 3Q 2022). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Announcement • Aug 15
Covalon Technologies Ltd. to Report Q3, 2023 Results on Aug 16, 2023 Covalon Technologies Ltd. announced that they will report Q3, 2023 results Pre-Market on Aug 16, 2023 Board Change • Aug 14
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman of the Board Amir Boloor was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 10
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman of the Board Amir Boloor was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 27
Second quarter 2023 earnings released: CA$0.03 loss per share (vs CA$0.095 loss in 2Q 2022) Second quarter 2023 results: CA$0.03 loss per share (improved from CA$0.095 loss in 2Q 2022). Revenue: CA$7.24m (up 120% from 2Q 2022). Net loss: CA$698.1k (loss narrowed 72% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • May 24
Covalon Technologies Ltd. to Report Q2, 2023 Results on May 25, 2023 Covalon Technologies Ltd. announced that they will report Q2, 2023 results Pre-Market on May 25, 2023 Reported Earnings • Feb 24
First quarter 2023 earnings released: CA$0.02 loss per share (vs CA$0.043 loss in 1Q 2022) First quarter 2023 results: CA$0.02 loss per share (improved from CA$0.043 loss in 1Q 2022). Revenue: CA$6.19m (up 25% from 1Q 2022). Net loss: CA$380.8k (loss narrowed 66% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Feb 18
Covalon Technologies Ltd. to Report Q1, 2023 Results on Feb 23, 2023 Covalon Technologies Ltd. announced that they will report Q1, 2023 results at 9:30 AM, US Eastern Standard Time on Feb 23, 2023 Reported Earnings • Jan 26
Full year 2022 earnings released: CA$0.36 loss per share (vs CA$0.016 profit in FY 2021) Full year 2022 results: CA$0.36 loss per share (down from CA$0.016 profit in FY 2021). Revenue: CA$18.1m (down 7.2% from FY 2021). Net loss: CA$9.25m (down CA$9.67m from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Jan 24
Covalon Technologies Ltd. to Report Q4, 2022 Results on Jan 25, 2023 Covalon Technologies Ltd. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Jan 25, 2023 Announcement • Dec 22
Covalon Technologies Ltd., Annual General Meeting, Mar 08, 2023 Covalon Technologies Ltd., Annual General Meeting, Mar 08, 2023. Announcement • Nov 02
Covalon Technologies Ltd. Announces Its Newest Advanced Wound Care Product, ColActive Plus Powder Covalon Technologies Ltd. announced that its newest advanced wound care product, ColActive Plus Powder, was showcased in a case study presentation at the Symposium on Advanced Wound Care (SAWC), from October 13 to 16, 2022 in Las Vegas. The study, conducted by Dr. Alton Johnson Jr., DPM, FACPM, DABPM, CWSP, at University of Michigan School of Medicine, demonstrates the efficacy of ColActive Plus Powder in treating chronic non-healing wounds. Chronic, hard-to-heal wounds fail to advance through the phases of healing in an orderly and timely manner, often becoming stalled in the inflammatory phase. Imbalances in important cellular mediators for healing perpetuate the cycle of chronicity, which can lead to severe complications such as infection or amputation, which have grave consequences on overall quality of life. ColActive Plus Collagen Powder was uniquely designed to optimize the wound environment while supporting native collagen and connective tissue growth to help clinicians break the cycle of chronicity. Case Study Summary · An 83-year-old patient with peripheral arterial disease underwent metatarsal toe amputation which resulted in non-healing wounds. · The post-amputation surgical wounds failed to heal over several months with use of a competitive collagen/Oxidized Regenerated Cellulose product. · Treatment with weekly pulse lavage and ColActive Plus Powder resulted in the chronic post-amputation wounds being closed within 28 days, remaining healed to date. · Dr. Alton Johnson Jr. concluded that the use of the novel powder preparation of the ColActive formulation, in combination with pulse lavage, initiated and progressed the healing of the patient's chronic wounds rapidly, in addition to being simple to use as part of the existing treatment plan.Covalon's advanced wound care solutions include the following: ColActive® Plus Powder - Collagen wound filler that supports native collagen and connective tissue growth within the wound bed, while also stimulating cellular processes essential for wound healing. Allows for optimal moisture balance. Excellent solution for wounds of irregular shape or wounds in challenging locations ColActive® Plus Powder Ag - Collagen wound filler with antimicrobial ionic silver to prevent bacterial colonization within the product, thus minimizing the risk of infection. Announcement • Sep 27
Covalon Technologies Ltd. to Showcase Infection Prevention Solutions at the Association for Vascular Access Annual Scientific Meeting Covalon Technologies Ltd. announced that it will be co-sponsoring the Association for Vascular Access (AVA) Annual Scientific Meeting and hosting an exhibit from September 30 to October 2, 2022 at the Minneapolis Convention Center, Minneapolis, Minnesota. Visit at booth 607 to learn about advanced infection prevention solutions that reduce the burden on patients, practitioners, and caregivers. Covalon's vascular access infection prevention solutions work to reduce central line-associated bloodstream infections (CLABSIs) while ensuring patient comfort and include: VALGuard - an FDA listed, transparent, environmental barrier designed to protect catheter hubs and line connections from external contaminants and gross contamination, including body fluids and other secretions. It incorporates a quick-release pull strip for fast access to infusion hubs and for easy removal. IV Clear- an antimicrobial vascular access dressing that offers complete transparency at and around the insertion site for easy daily assessment. It uses a soft silicone adhesive to preserve the skin's barrier function and minimize skin injuries and incorporates safe amounts of antimicrobials, without sacrificing efficacy, to protect against chemical irritation. VALGuard is the only FDA listed product specifically designed to help prevent vascular line to line contamination, with a safety release mechanism to allow instant access to the line in emergency situations. Vascular access line guards are being recognized as a must-have medical device by major hospitals as 71% of catheter-related infections have been linked to a catheter hub contamination. Patent-pending, VALGuard was developed specifically to help prevent these infections. IV Clear is the world's only clear dual-antimicrobial IV dressing with soft silicone adhesive technology that is designed to protect patients' skin – even after multiple dressing changes. Studies have shown the high efficacy of the product in preventing infections. What may not be as obvious, however, is that the product has been specifically designed with human experience in mind – patients, clinicians, and caregivers. Covalon's patented technology allows for significantly easier application, monitoring and removal, which is imperative for patients with vulnerable skin, such as pediatric ones. Announcement • Sep 14
Covalon Technologies Ltd. to Introduce New Infection Prevention Products at the Annual Association of Pediatric Hematology/Oncology Nurses Conference Covalon Technologies Ltd. (the ‘Company’ or ‘Covalon’) to announce its participation in the 46th Annual Association of Pediatric Hematology/Oncology Nurses (APHON) Conference & Exhibit at the Palm Beach County Convention Center in West Palm Beach, Florida on September 15 17, 2022. Visit Covalon at booth 307 to learn how their infection prevention and advanced wound care products are making a difference in the lives of their youngest patients. With more than 25 leading children's hospitals currently using or evaluating Covalon's VALGuard product, the world's only FDA-approved vascular access line guard, the need to find a solution to help protect line-to-line connections to reduce central line associated bloodstream infections (‘CLABSIs’) has never been greater. Bloodstream infections are up 65% in intensive care units, and there is an urgent need to adopt new compassionate care technologies in the fight to protect patients. The Conference provides premier educational content, networking, and social events for nurses specializing in pediatric hematology/oncology. Covalon will be hosting an exhibit throughout the conference dates. Visit them at booth 307 to learn how their infection prevention and advanced wound care products are making a difference in the lives of their youngest patients. Covalon's patented products include: VALGuard® - an FDA-approved, transparent, environmental barrier designed to protect catheter hubs and line connections from external contaminants and gross contamination, including body fluids and other secretions. It incorporates a quick-release pull strip for fast access to infusion hubs and for easy removal. SurgiClear® - a transparent, breathable, fluid impermeable barrier that isolates the wound site from external contamination while providing dual antimicrobial protection throughout the entire surface of the dressing. It uses a low but effective concentration of chlorhexidine and silver embedded into an atraumatic silicone adhesive that covers the entire transparent surface area to allow for easy and consistent monitoring of wound sites. IV Clear® - a vascular access dressing that offers complete transparency at and around the insertion site for easy daily assessment. It uses a soft silicone adhesive to preserve the skin's barrier function and minimize skin injuries and incorporates safe amounts of antimicrobials, without sacrificing efficacy, to protect against chemical irritation. Reported Earnings • Aug 29
Third quarter 2022 earnings released: CA$0.06 loss per share (vs CA$0.041 profit in 3Q 2021) Third quarter 2022 results: CA$0.06 loss per share (down from CA$0.041 profit in 3Q 2021). Revenue: CA$4.53m (down 49% from 3Q 2021). Net loss: CA$1.61m (down 252% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Aug 25
Covalon Technologies Ltd. to Report Q3, 2022 Results on Aug 29, 2022 Covalon Technologies Ltd. announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Aug 29, 2022 Reported Earnings • Jun 01
Second quarter 2022 earnings released: CA$0.095 loss per share (vs CA$0.011 loss in 2Q 2021) Second quarter 2022 results: CA$0.095 loss per share (down from CA$0.011 loss in 2Q 2021). Revenue: CA$3.29m (down 24% from 2Q 2021). Net loss: CA$2.46m (loss widened CA$2.17m from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • May 27
Covalon Technologies Ltd. to Report Q2, 2022 Results on May 30, 2022 Covalon Technologies Ltd. announced that they will report Q2, 2022 results Pre-Market on May 30, 2022 Announcement • May 20
Covalon Technologies Ltd. Appoints Mark Doolittle as Senior Vice President, Commercial Sales Covalon Technologies Ltd. announced that Mark Doolittle has joined the Company as Senior Vice President, Commercial Sales. Mr. Doolittle brings over 20 years of medical and B2B sales and marketing experience to Covalon. He has substantial leadership experience managing high-performing teams and managing partnerships both domestically and internationally. Prior to joining Covalon, Mr. Doolittle spent the last 12 years at US-based Cantel Medical, the global leader in infection prevention in GI Endoscopy. In his most recent role, he served as the Vice President of US Commercial. Announcement • Apr 27
Covalon Technologies Ltd. Appoints Ron Hebert as Senior Vice President of Marketing Covalon Technologies Ltd. announced that Ron Hebert has joined the Company as Senior Vice President of Marketing. Mr. Hebert brings nearly 30 years of healthcare sales, marketing, and hospital experience to Covalon. Prior to joining the Company, he served as Vice President of Marketing and Communications at VIVEX Biologics. He also served as Vice President and Head of Growth Marketing and Sales Operations at MEDNAX. Announcement • Feb 17
Covalon Technologies Ltd. to Report Q1, 2022 Results on Mar 01, 2022 Covalon Technologies Ltd. announced that they will report Q1, 2022 results Pre-Market on Mar 01, 2022 Reported Earnings • Dec 15
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: CA$0.016 (up from CA$0.27 loss in FY 2020). Revenue: CA$19.6m (down 24% from FY 2020). Net income: CA$419.0k (up CA$7.37m from FY 2020). Profit margin: 2.1% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 3.5%. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Executive Departure • Oct 03
Independent Director Myrna Francis has left the company On the 24th of September, Myrna Francis' tenure as Independent Director ended after 2.7 years in the role. We don't have any record of a personal shareholding under Myrna's name. A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 5.92 years. Executive Departure • Sep 29
Independent Director Myrna Francis has left the company On the 24th of September, Myrna Francis' tenure as Independent Director ended after 2.7 years in the role. We don't have any record of a personal shareholding under Myrna's name. A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 5.83 years. Recent Insider Transactions • Sep 15
Independent Chairman of the Board recently bought CA$103k worth of stock On the 8th of September, Amir Boloor bought around 45k shares on-market at roughly CA$2.28 per share. This was the largest purchase by an insider in the last 3 months. Amir has been a buyer over the last 12 months, purchasing a net total of CA$184k worth in shares. Reported Earnings • Sep 01
Third quarter 2021 earnings released: EPS CA$0.041 (vs CA$0.012 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$8.82m (up 32% from 3Q 2020). Net income: CA$1.06m (up 237% from 3Q 2020). Profit margin: 12% (up from 4.7% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year whereas the company’s share price has fallen by 39% per year. Announcement • Jun 02
Covalon Technologies Undertakes A Strategic Review Process As previously announced, in response to expressions of interest made by medical industry and private equity organizations, Board of Directors of Covalon Technologies Ltd. (TSXV:COV) formed a Special Committee and hired advisors to assist in undertaking a Strategic Review process, to ensure that available strategic alternatives to enhance value for our shareholders are being evaluated. Amir Boloor, Chair of Covalon's Board of Directors and Chair of the Special Committee, said, “I am extremely pleased with the progress made by the Special Committee to date. Over the past several months, we have been carefully evaluating a number of expressions of interest and assessing the impact of these potential strategic alternatives on the overall value, future profitability and the growth prospects of Covalon. Each strategic alternative is being evaluated and assessed as to its impact following any strategic transactions involving one or more of our patented intellectual properties, technology platforms, commercialized medical product portfolio and global sales channels. This process has clearly validated that Covalon owns a number of valuable medical technologies that are of interest to the medical industry”. Reported Earnings • Jun 02
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$6.74m (up 28% from 2Q 2020). Net income: CA$421.7k (up CA$4.33m from 2Q 2020). Profit margin: 6.3% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 40 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 03
First quarter 2021 earnings released: CA$0.01 loss per share (vs CA$0.045 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: CA$5.99m (down 25% from 1Q 2020). Net loss: CA$372.3k (loss narrowed 68% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 82% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Announcement • Feb 27
Covalon Technologies Ltd. to Report Q1, 2021 Results on Mar 01, 2021 Covalon Technologies Ltd. announced that they will report Q1, 2021 results Pre-Market on Mar 01, 2021 Is New 90 Day High Low • Feb 20
New 90-day high: CA$1.75 The company is up 39% from its price of CA$1.26 on 20 November 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 8.0% over the same period. Reported Earnings • Jan 30
Full year 2020 earnings released: CA$0.27 loss per share (vs CA$0.41 loss in FY 2019) The company reported a mediocre full year result with weaker revenues, although its control over expenses remained stable and losses reduced. Full year 2020 results: Revenue: CA$25.8m (down 24% from FY 2019). Net loss: CA$6.95m (loss narrowed 24% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 98% per year but the company’s share price has only fallen by 37% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 27
New 90-day high: CA$1.36 The company is up 35% from its price of CA$1.01 on 28 October 2020. The Canadian market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 21% over the same period. Announcement • Nov 14
Covalon Technologies Ltd. Appoints Amir Boloor as Chair of the Company's Board of Directors Covalon Technologies Ltd. announced the appointment of Amir Boloor, President of Caspian Equity Partners Inc., as Chair of the Company's Board of Directors. Mr. Boloor, an independent director of the Company, is also Chair of the Company's recently announced Special Committee, appointed to explore and evaluate a range of strategic alternatives available to the Company in order to enhance shareholder value. Announcement • Aug 22
Covalon Technologies Ltd. to Report Q3, 2020 Results on Aug 24, 2020 Covalon Technologies Ltd. announced that they will report Q3, 2020 results at 9:00 AM, Eastern Standard Time on Aug 24, 2020