Tillkännagivande • Jan 22
Bioharvest Sciences Inc. Appoints Sharon Malka as Independent Director BioHarvest Sciences Inc. announced that Mr. Sharon Malka has agreed to serve as an independent director of BioHarvest. The appointment is effective immediately. Sharon Malka brings a wealth of experience to BioHarvest, having held senior leadership positions with a number of international healthcare and technology companies. He is currently Chief Executive Officer of Dotz Nano Ltd., an Australian-based technology company focused on developing, manufacturing and commercializing advanced materials for diagnostics solutions. Mr. Sharon is currently on the Board of Directors of MediWound Limited, a Nasdaq-listed biopharmaceutical company, where he also previously served as both Chief Financial Officer and Chief Executive Officer. Prior to Mediwound, Sharon held the role of Partner at Variance Economic Consulting Ltd., a financial services consulting boutique focused on international technology company. Mr. Malka is a certified CPA and graduate of the Executive Education Program of Harvard Business School. He holds a B.Sc. in Business Administration and an M.B.A. New Risk • Jan 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$143.0m (US$98.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$10m free cash flow). Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (CA$143.0m market cap, or US$98.8m). Breakeven Date Change • Dec 19
Forecast to breakeven in 2026 The 3 analysts covering BioHarvest Sciences expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$1.89m in 2026. Average annual earnings growth of 75% is required to achieve expected profit on schedule. Tillkännagivande • Nov 27
BioHarvest Sciences Inc. Launches VINIA Superfood Functional Tea Line BioHarvest Sciences Inc. announced the launch of its highly anticipated VINIA infused teas - a line of SuperFood functional teas that deliver the same clinically validated benefits as the successful VINIA® supplements. This launch further demonstrates the potential of VINIA's lifetime value across multiple consumer verticals. Tens of thousands of subscribers take VINIA daily to improve blood flow as a supplement in capsule form or through VINIA® Superfood coffee, which increases their dilation of arteries, improving blood flow and enhancing their physical energy and mental alertness. Now consumers can experience those same blood flow improvements together with a cup of great tasting VINIA Superfood Tea, featuring four premium blends: Black Tea, Green Tea, Matcha Green Tea and Cranberry Hibiscus Herbal Tea. BioHarvest's VINIA® SuperFood Infused Teas - which contain the equivalent piceid resveratrol contained in one capsule of VINIA® - deliver superior science, efficacy and taste. Third party blind taste testing shows BioHarvest's VINIA® infused teas outperformed leading English Breakfast and Green Tea brands. All the tea used in the VINIA SuperFood Infused Teas lineup are sourced from Rainforest Alliance certified farms. BioHarvest will launch its VINIA® infused tea line across major channels starting, December 7th, following a VIP launch commencing on November 25, 2024 for select existing VINIA® subscribers. Reported Earnings • Nov 26
Third quarter 2024 earnings released: EPS: US$0 (vs US$0.13 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0. Revenue: US$6.54m (up 102% from 3Q 2023). Net loss: US$2.69m (loss widened 56% from 3Q 2023). Revenue is forecast to grow 67% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Personal Products industry in North America. Tillkännagivande • Sep 20
Bioharvest Sciences Inc. Announces Resignation of David Ryan as Director BioHarvest Sciences Inc. announced the resignation of David Ryan as a director of the Company. Mr. Ryan will remain a key member of the Company's management team, continuing to serve as Vice President of Investor Relations of the Company. Mr. Ryan resigned as a director of the Company in order for the Company to meet Nasdaq mandates to have a majority of independent directors in connection with its proposed application to list its common shares on the Nasdaq Stock Market. Reported Earnings • Aug 30
Second quarter 2024 earnings released: US$0.042 loss per share (vs US$0.21 loss in 2Q 2023) Second quarter 2024 results: US$0.042 loss per share (improved from US$0.21 loss in 2Q 2023). Revenue: US$6.03m (up 119% from 2Q 2023). Net loss: US$687.0k (loss narrowed 76% from 2Q 2023). Revenue is forecast to grow 64% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Personal Products industry in North America. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 19% per year. New Risk • Aug 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$9.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$9.2m free cash flow). Earnings have declined by 21% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (CA$127.4m market cap, or US$94.4m). New Risk • Aug 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$136.9m (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$3.2m). Earnings have declined by 21% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (CA$136.9m market cap, or US$99.7m). Tillkännagivande • Jun 21
BioHarvest Sciences Inc. announced that it expects to receive CAD 6.847977 million in funding BioHarvest Sciences Inc. announced a private placement of up to 697,350 units at a price of CAD 9.82 per unit for the gross proceeds of CAD 6,847,977 on June 21, 2024. Each unit includes one common share, one-quarter (1/4) of a CAD 10.50 warrant, and one-quarter (1/4) of an CAD 15.77 Warrant. The Company will pay cash commissions or finders fees of up to 5% of the cash proceeds of the offering. Reported Earnings • Jun 05
First quarter 2024 earnings released: US$0.48 loss per share (vs US$0.057 loss in 1Q 2023) First quarter 2024 results: US$0.48 loss per share (further deteriorated from US$0.057 loss in 1Q 2023). Revenue: US$5.34m (up 147% from 1Q 2023). Net loss: US$6.58m (loss widened US$5.83m from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 6% per year. Reported Earnings • May 01
Full year 2023 earnings released: US$0.027 loss per share (vs US$0.025 loss in FY 2022) Full year 2023 results: US$0.027 loss per share (further deteriorated from US$0.025 loss in FY 2022). Revenue: US$12.7m (up 131% from FY 2022). Net loss: US$12.6m (loss widened 12% from FY 2022). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Tillkännagivande • Apr 05
BioHarvest Sciences Inc., Annual General Meeting, May 27, 2024 BioHarvest Sciences Inc., Annual General Meeting, May 27, 2024. Tillkännagivande • Jan 09
BioHarvest Sciences Inc. to Report Q4, 2023 Results on Mar 29, 2024 BioHarvest Sciences Inc. announced that they will report Q4, 2023 results on Mar 29, 2024 Tillkännagivande • Dec 27
BioHarvest Sciences Inc. announced that it has received CAD 13.622872 million in funding On December 27, 2023, BioHarvest Sciences Inc., closed the transaction. The company raised CAD 1,836,383.28 in its second and final tranche closing. As a part of the transaction, the company paid a total of CAD 53,247.54 as commissions or finder's fees associated with this final tranche. The transaction was oversubscribed by CAD 122,873.26. Tillkännagivande • Dec 14
Bioharvest Sciences Inc. Announces Major Product Launch of Vinia-Based Functional Coffee Products BioHarvest Sciences Inc. announced that it has created a new "functional" coffee product line featuring VINIA Red Grape Superfood, its nutraceutical product.ens of thousands of subscribers take VINIA daily to improve blood flow, which enhances their physical energy and mental alertness, and now consumers can experience those same blood flow improvements conveniently together with one daily cup of great tasting VINIA Superfood coffee, now available at . These new VINIA coffee products are the first of three key delivery mechanisms implementing the 'VINIA Inside' Strategy. The BioHarvest Sciences Botanical Synthesis platform delivers non- GMO, fingerprint consistent plant cells with elicited levels of active phytochemicals not available in nature. All benefits and claims are supported by scientific studies and clinical trials. Superior Taste-- All product formulations are extensively taste-tested via blind quantitative taste test research versus market leaders. VINIA is clinically proven to significantly dilate arteries. It achieves this unique outcome by increasing Nitric Oxide levels in the blood (which act as a vasodilator) and by reducing the Endothelin-1 levels in the blood (which Act as a vasoconstrictor). BioHarvest currently has a Direct-to-Consumer focus, with 93% of VINIA sales occurring on VINIA.com being via subscription. BioHarvest also uses Amazon.com as a key channel to source new customers. Formulated by leading scientists and coffee connoisseurs, VINIA Superfood Coffee contains 100% premium Arabica beans and is infused with a matrix of the red grape polyphenols found in red wine, with zero alcohol. VINIA Superfood Coffee is available for online purchase in North America on company website. Each Medium Roast and Decaf VINIA Superfood Coffee Pod includes VINIA Red Grape Powder (23 mg of polyphenols including 6 mg of piceid resveratrol) which is equivalent to one VINIA capsule. VINIA® Superfood Coffee is compatible with Keurig and most single serve brewing systems. VINIA has no affiliation with Keurig Dr. Pepper Inc, "Keurig" and "K-Cup" is a registered trademark of Keurig Dr. Pepper Inc. VINIA Superfood functional coffees are expected to be available in 2024 in Nespresso compatible pods, and the Company has announced that it will add tea products to its Hot Beverages business, including black and green teas. The Company expects to release financial guidance on the new VINIA Superfood Coffee and Tea portfolio at the end of first quarter of 2024. Tillkännagivande • Oct 20
BioHarvest Sciences Inc. announced that it expects to receive CAD 12 million in funding BioHarvest Sciences Inc. announced a non-brokered private placement of convertible notes for the gross proceeds of CAD 12,000,000 on October 19, 2023. The notes will have a term of 24 months, and pay interest of 12% per annum. The convertible notes and accrued interest will be convertible at the option of the holder into common shares of the Issuer at a conversion price that is equal to the closing market price of the company’s common shares on the date of conversion less a discount of 20% but in any event, not less than CAD 0.24 per share or more than CAD 0.75 per share. Reported Earnings • Sep 02
Second quarter 2023 earnings released: US$0.006 loss per share (vs US$0.005 loss in 2Q 2022) Second quarter 2023 results: US$0.006 loss per share (further deteriorated from US$0.005 loss in 2Q 2022). Revenue: US$2.75m (up 228% from 2Q 2022). Net loss: US$2.85m (loss widened 20% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Tillkännagivande • Aug 25
BioHarvest Sciences Inc. to Report Q2, 2023 Results on Aug 30, 2023 BioHarvest Sciences Inc. announced that they will report Q2, 2023 results on Aug 30, 2023 Tillkännagivande • Jul 08
BioHarvest Sciences Inc. announced that it expects to receive CAD 4.625103 million in funding BioHarvest Sciences Inc. announced a non-brokered private placement of convertible notes for the gross proceeds of CAD 4,625,102.87 on July 7, 2023. The notes will have a term of 12 months, and pay interest of 9% per annum. The Convertible Notes are convertible as to principal and accrued interest at the option of the holder into common shares of the company at a conversion price of CAD 0.20 per share. Tillkännagivande • Jun 08
BioHarvest Sciences Inc. Announces Appointment of John Paul Sangiovanni as Medical and Scientific Advisory Board BioHarvest Sciences announced that it has added Dr. John Paul SanGiovanni, world renowned nutritionist and Harvard-trained scientist, to its Medical and Scientific Advisory board. Dr. SanGiovanni will act as a liaison with the spheres of Academia, Industry, and Government, helping spread the promise and potential of Botanical Synthesis. His deep connections within Academic and research institutions will introduce BioHarvest's biotech capabilities to new potential research partners, and he will contribute his experience to help facilitate targeted applications for both US and European government grants. Tillkännagivande • Jun 01
Bioharvest Sciences Inc. Reiterated Sales Guidance for the year 2023 BioHarvest Sciences Inc. reiterated sales guidance for the year 2023. The company is reiterating revenue guidance of USD 17 million+ for the year. Reported Earnings • Jun 01
First quarter 2023 earnings released: US$0.002 loss per share (vs US$0.005 loss in 1Q 2022) First quarter 2023 results: US$0.002 loss per share (improved from US$0.005 loss in 1Q 2022). Revenue: US$2.16m (up 209% from 1Q 2022). Net loss: US$752.0k (loss narrowed 65% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • May 19
BioHarvest Sciences Inc., Annual General Meeting, Jul 19, 2023 BioHarvest Sciences Inc., Annual General Meeting, Jul 19, 2023. Reported Earnings • Apr 29
Full year 2022 earnings released: US$0.025 loss per share (vs US$0.023 loss in FY 2021) Full year 2022 results: US$0.025 loss per share (further deteriorated from US$0.023 loss in FY 2021). Revenue: US$5.50m (up 162% from FY 2021). Net loss: US$11.2m (loss widened 14% from FY 2021). Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 29% per year. Tillkännagivande • Feb 16
BioHarvest Sciences Inc. Announces Clinical Study in Patients with Multiple Sclerosis-Related Optic Neuritis BioHarvest Sciences Inc. announced a collaboration with the International Neurorehabilitation Institute (INI) in Lutherville, Maryland to perform a clinical trial to assess the capacity of its RGC composition to promote eye health. The study will be led by Dr. Daniel Becker, Director of the INI and Assistant Professor of Neurology at Johns Hopkins School of Medicine. RGC is a patented composition based on BioHarvest's Botanical-Synthesis technology, with consistency and quality that have potential to meet the criteria for being used as an Active Pharmaceutical Ingredient (API). The planned translational open-label clinical study will evaluate the impact of RGC on multiple sclerosis (MS)-related optic neuritis driven by inflammation. The study - the latest of several human clinical trials run by BioHarvest - aims to elucidate the mechanisms through which RGC impacts the disease by measuring anti-oxidative, detoxifying, and inflammatory biomarkers. The research team hypothesizes that RGC will result in positive changes to eye health by modulating a variety of biomarkers compared to baseline in the study participants. The next important step for this study is submission to an Institutional Review Board (IRB) to be followed by the study launch with 15-30 participants. The Multiple Sclerosis Foundation estimates more than 1 million people in the United States and about 2.5 million people worldwide have been diagnosed with MS, and some 200 new cases are diagnosed weekly in the US alone. While the root causes of MS are still unknown, there are definite links between genetic and select environmental factors. Tillkännagivande • Jan 18
Bioharvest Sciences Inc. Appoints George Garibaldi to its Scientific Board of Advisors BioHarvest Sciences Inc. announces that effective immediately, Dr. George Garibaldi will serve on its Scientific Board of Advisors. Complementing a top-tier group that includes a significant array of expertise, Dr. Garibaldi brings BioHarvest 40 years of experience in drug development and understanding of the pharma industry. Dr. George Garibaldi is co-founder and President of Research and Development of Noema Pharma AG. He previously held leadership responsibilities in research and development in several major pharmaceutical companies, most recently serving as VP and Global Head of Clinical Neuroscience at F. Hoffmann-La Roche. Dr. Garibaldi trained in child psychiatry, statistics, and neuropsychopharmacology. During his tenure at Roche, he led the development of multiple therapies including OCREVUS (ocrelizumab), approved in 2017 for primary progressive and relapsing-remitting multiple sclerosis. Prior to Roche, he was Head of Psychiatry and Geriatric Psychiatry at Novartis and the Neuroscience Therapeutic Area Lead at Janssen Pharmaceuticals. Throughout his career, Dr. Garibaldi developed therapies for multiple conditions including Exelon (rivastigmine) in Alzheimer's disease, Fanapt (iloperidone) in schizophrenia, Risperdal Consta (risperidone long-acting injectable) in frequently relapsing patients with bipolar disorders, and Invega (paliperidone) in patients with schizoaffective disorder. He also led the regulatory submission and approval of Risperdal (risperidone) in autism spectrum disorders. Dr. Garibaldi serves as a peer reviewer for multiple scientific and medical journals and has authored more than 100 articles in peer-reviewed journals. He developed, validated and published a number of clinician- and patient-reported clinical outcomes including "The Readiness for Hospital Discharge Questionnaire in Schizophrenia", "The Patient Most Troubling Symptoms Scale in Anxiety and Depression", "The Readiness for Work Questionnaire in Schizophrenia" and "The Clinical Global Impression for Schizoaffective Disorder". Dr. Garibaldi is a board member of several biotech companies, a member of the American Academy of Child and Adolescent Psychiatry (AACAP), founder and past president of the International Society for Central Nervous System Clinical Trials and Methodology (ISCTM) and former chairman of the International Society for CNS Drug Development (ISCDD). He is the recipient of multiple awards including the ISCDD Award for Innovation. Dr. Garibaldi is widely recognized by his peers as an innovative and collaborative leader guided by his dedication to developing novel therapies for patients. Dr. Garibaldi earned an M.D. from the faculty of medicine of Cairo University. He completed his residency in Child and General Psychiatry at the Rene Descartes Medical School, his studies in statistics and mathematical modeling at the University of Kremlin-Bictre, and his studies in Neuropsychopharmacology at the Piti Salptrire. Tillkännagivande • Dec 17
BioHarvest Sciences Inc. announced that it has received CAD 10.03355 million in funding On December 15, 2022, BioHarvest Sciences Inc. closed the transaction. The company issued notes for an aggregate principal amount of CAD 542,573.73 in its third tranche. The company has raised CAD 10,033,559.70 in funding so far in the transaction. In connection with the third tranche, the company has paid finder's fees of CAD 27,128.69 to finders. Upon and for each conversion of any portion of the principal amount of certain notes, the company may issue warrants to the finders. The finders' warrants are exercisable to purchase up to a number of common shares of the company, equal to 5 per cent of the converted amount divided by the conversion price of such conversion for a period of 12 months from such conversion. The notes issued under the third tranche, and any common shares issuable upon conversion of such notes, are subject to a four month and one day hold expiring April 16, 2023. Tillkännagivande • Dec 16
Bioharvest Sciences Inc. Provides Revenue Guidance for the Year 2022 and 2023 Bioharvest Sciences Inc. Provided Revenue Guidance for the Year 2023. For the year, the company is estimating 2023 revenue to be between USD 17 million to USD 20 million, representing a significant growth of at least 3X over 2022. Revenue for 2022 is now estimated to be USD 5.5 million to USD 5.7 million, meeting the guidance range provided by the company in First Quarter of this year. Reported Earnings • Nov 29
Third quarter 2022 earnings released: US$0.009 loss per share (vs US$0.007 loss in 3Q 2021) Third quarter 2022 results: US$0.009 loss per share (further deteriorated from US$0.007 loss in 3Q 2021). Revenue: US$1.52m (up 136% from 3Q 2021). Net loss: US$3.92m (loss widened 29% from 3Q 2021). Board Change • Nov 16
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. 4 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). VP of Investor Relations, Secretary & Director Dave Ryan is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 30
Second quarter 2022 earnings released: US$0.005 loss per share (vs US$0.004 profit in 2Q 2021) Second quarter 2022 results: US$0.005 loss per share (down from US$0.004 profit in 2Q 2021). Revenue: US$838.0k (up 102% from 2Q 2021). Net loss: US$2.38m (down 234% from profit in 2Q 2021). Tillkännagivande • Jul 01
BioHarvest Sciences Inc. Appoints Gavriel Lambert to its Board of Advisors BioHarvest Sciences Inc. announced that effective immediately, Gavriel Lambert will be serving on its Board of Advisors. Gavriel brings 27 years of experience in global investment banking and will complement BioHarvest's highly competent Board of Advisors. Detailed Biography: As of May 22, Gavriel has been appointed Head of Consumer Retail Group, EMEA (Europe, Middle East and Africa) and Co-Head of Global Retail for Jefferies Group. Gavriel Lambert BioHarvest Sciences Board of Advisors: Prior to this new appointment and from 2016, Gavriel headed the EMEA Consumer Retail Group for Barclays Plc. He led a team of global professionals with primary coverage responsibility, client development, new business solicitation, transaction origination and execution for a broad range of retail, consumer and e-commerce clients. He has been involved in several dozens of significant M&A and financing transactions. Prior to joining Barclays in 2013, his extensive career (that started in 1995) included holding senior investment banking positions at Solomon Smith Barney, J.P. Morgan and UBS Securities. Gavriel holds a Master's degree (MBA) in finance from the Columbia Business School and a BSc Honors in Psychology from the London School of Economics. Tillkännagivande • Jun 01
Bioharvest Sciences Inc. Hires Dr. Brian S. Cornblatt as Chief Medical Officer BioHarvest Sciences Inc. has hired Dr. Brian S. Cornblatt as its Chief Medical Officer, marking a significant milestone in the Company's route for the development of next generation therapeutic solutions including botanical drugs. Dr. Cornblatt has served as Director of Consumer Clinical Research and Science and as Medical Director at Nutramax Laboratories Consumer Care Inc. In this role Dr. Cornblatt developed novel nutraceutical formulations, designed both in vitro and clinical studies in support of products, and summarized both supporting laboratory and clinical research for healthcare workers and consumers. His most recent development has been a novel line of products (and 18 related clinical trials) which deliver the essential ingredients needed to support the production of sulforaphane, a phytochemical with many emerging indications. Dr. Cornblatt is also the inventor of three issued patents and four pending provisional patents focused on plant-based bioactive compounds and health promotion. rior to moving to Nutramax Laboratories in 2010, Dr. Cornblatt was the Scientific Director and Developer of the Catholic Health Initiatives' (CHI) Center for Translational Research (CTR), a combined molecular research laboratory, national biorepository, and diagnostics laboratory. The CTR supported esearch initiatives throughout CHI's forty Oncology centers. Dr. Cornblatt is a Johns Hopkins University School of Medicine Graduate with a Ph.D. in Pharmacology and Molecular Sciences and a postdoctoral fellowship from the Johns Hopkins Bloomberg School of Public Health, Environmental Health Sciences Division of Toxicology. Reported Earnings • May 31
First quarter 2022 earnings released: US$0.005 loss per share (vs US$0.016 loss in 1Q 2021) First quarter 2022 results: US$0.005 loss per share (up from US$0.016 loss in 1Q 2021). Revenue: US$699.0k (up 123% from 1Q 2021). Net loss: US$2.13m (loss narrowed 69% from 1Q 2021). Reported Earnings • Apr 29
Full year 2021 earnings released: US$0.023 loss per share (vs US$0.019 loss in FY 2020) Full year 2021 results: US$0.023 loss per share (down from US$0.019 loss in FY 2020). Revenue: US$2.10m (up 431% from FY 2020). Net loss: US$9.83m (loss widened 49% from FY 2020). Board Change • Apr 27
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. 4 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). VP of Investor Relations, Secretary & Director Dave Ryan is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Tillkännagivande • Apr 08
BioHarvest Sciences Inc. announced that it expects to receive CAD 6.3 million in funding BioHarvest Sciences Inc. announced a private placement of convertible notes for gross proceeds of up to CAD 6,300,000 on April 7, 2022. The notes, will have a term of 24 months, and pay interest of 6% per annum. The notes will be convertible as to principal and accrued interest , at the option of the holder, at any time following one year from their issuance into common shares of the company at a price equal to the closing market price of its common shares on the date of conversion less a discount of 25% if the closing price is CAD 0.50 per share or less and 20% if the closing price is above CAD 0.51 but in any event not less than CAD 0.26 per share and not higher than a ceiling price equal to CAD 0.65 if converted within 90 days of the Anniversary Date, CAD 0.75 if converted between 91 and 180 days of the Anniversary Date, CAD 0.85 if converted between 181 and 270 days of the Anniversary Date and CAD 0.95 thereafter. The company may pay customary commissions or other sales incentives to registered brokers or investment dealers or finders. Tillkännagivande • Apr 07
BioHarvest Sciences Inc. Reiterates Sales Orders Guidance for 2022 BioHarvest Sciences Inc. reiterated its sales orders guidance for 2022. The company reiterated its 2022 sales orders guidance of USD 5 million - USD 7 million representing a 2.5 times - 3.5 times growth over 2021. Tillkännagivande • Jan 29
BioHarvest Sciences Inc. Provides Revenue Guidance for the Year 2022 BioHarvest Sciences Inc. provided revenue guidance for the year 2022. For the year, the company expected revenue to be between $5 Million - $7 Million, representing a significant growth of 2.5X-3.5X over 2021. Reported Earnings • Dec 01
Third quarter 2021 earnings: Revenues in line with analyst expectations Third quarter 2021 results: Revenue: US$644.0k (up US$591.0k from 3Q 2020). Net loss: US$3.04m (loss widened 65% from 3Q 2020). Revenue was in line with analyst estimates. Reported Earnings • Sep 01
Second quarter 2021 earnings released: EPS US$0.004 (vs US$0.004 loss in 2Q 2020) Second quarter 2021 results: Revenue: US$415.0k (up US$376.0k from 2Q 2020). Net income: US$1.79m (up US$3.16m from 2Q 2020). Tillkännagivande • Aug 20
Bioharvest Sciences Inc. Unveils New Groundbreaking Cannabis Trichome Structure BioHarvest Sciences Inc. unveiled a new, groundbreaking "Amalgamated Trichomes Coral Structure" (ATCS) that will revolutionize the production of Cannabis. BioHarvest has successfully grown multiple trichomes in coral-shaped clusters where they are attached together in a natural structure. This structure protects the trichomes from the shear forces and guarantees much-needed mechanical stability during the growth process. The trichomes grow on the surface of the Cannabis flower or leaf and have a shape of a tiny mushroom with glandular heads. They are individually and mechanically attached to the surface through a fragile stalk. BioHarvest is the first company in the world to successfully and naturally grow trichomes together, forming a coral-shaped structure that protects them from the shear forces applied by the fluid motion inside the bioreactors. This structure guarantees the much-needed mechanical stability during the growth process within the bioreactor. We call this uniquely shaped structure "Amalgamated Trichomes Coral Structure" (ATCS), and it allows the Company to quickly scale up Cannabis production in advance of wide scale commercialization in H1 2022. Tillkännagivande • Aug 06
BioHarvest Sciences Inc. announced that it expects to receive CAD 4 million in funding BioHarvest Sciences Inc. announced a private placement of up to 8,888,889 units at a price of CAD 0.45 per unit for gross proceeds of up to CAD 4,000,000 on August 4, 2021. Each unit will consist of one common share and one half of one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share at a fixed price of CAD 0.55 per share for a period of one year from the closing of the offering. The transaction was approved by the board of directors of the company and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange. The securities to be issued under the Offering will have a hold period expiring four months and one day from the date of issuance pursuant to applicable Canadian securities law. The company may pay to registered investment dealers or finders cash commissions or finders fees of up to 5% of the cash proceeds of the Offering. Tillkännagivande • Jun 16
BioHarvest Sciences Inc. Reveals Vinia Anti-Aging Capabilities Via Blood Flow Improvement BioHarvest Sciences Inc. announces that its VINIA® product is the only dietary supplement available in the US market which has the capability for both reducing the endothelin 1 (ET1) enzyme as well as increasing the nitric oxide (NO) molecules, in order to increase the dilation of arteries and thereby improve blood flow. The presence of ET1 constricts the blood vessel, whereas the presence of NO dilates it. As a result of its double-action effect proven by the Flow Mediated Dilatation (FMD) measurements in a double-blinded Placebo-controlled clinical trial and in an in-vitro study whose results were both published), VINIA® is uniquely positioned to combat the aging process caused by a reduction in blood flow. VINIA® act as an important anti-aging supplement, in addition to its other metabolic benefits. Improvement of blood and oxygen supply benefits all of the body's organs and tissues and contributes to overall health and wellness. Reported Earnings • Jun 02
First quarter 2021 earnings released First quarter 2021 results: Net loss: US$6.81m (loss widened US$6.54m from 1Q 2020). Reported Earnings • May 04
Full year 2020 earnings released Full year 2020 results: Net loss: US$6.58m (loss widened 54% from FY 2019). Tillkännagivande • Mar 05
Bioharvest Sciences Inc. Unveils Unique Polyphenolic Content of Its Upcoming Olive Based Nutraceutical BioHarvest Sciences Inc. reached an important milestone in its development program of additional Nutraceuticals. The olive based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving. The polyphenols in olives have demonstrated the ability to protect LDL particles from oxidative damage and to maintain normal blood HDL-cholesterol concentrations, required to maintain normal hemostatic function. These polyphenols have also demonstrated positive effects on learning and reducing memory deficits found in ageing (such as those related to the overproduction of amyloid-beta peptide). In addition, they can impact gut microbial balance by promoting growth of bacteria, influencing lipid metabolism and inhibition of pathogenic bacteria, as well as increase bone density. BioHarvest's olive cells based product will contain verbascoside, which is an ingredient with potent activity from the olive tree. This is a major differentiator of product as most olive extracts are based only on hydroxytyrosol, typical of the inedible vegetation waters from the tree and of aged extra-virgin olive oils. Tillkännagivande • Feb 18
Bioharvest Sciences Inc. Announces Partnership with Boldt and Summit Strategy Group to Develop A Sustainability Framework and Esg Report BioHarvest Sciences Inc. announced that it has entered into a partnership with BOLDT AG and Summit Strategy Group LLC, to develop BioHarvest's global sustainability strategy and ESG reporting framework. Both firms have deep experience working with purpose-driven companies in building long-term societal impact coupled with business value. BioHarvest's sustainable BioFarming technology enables the Company to grow plant cells at industrial scale in liquid bioreactors in order to produce the health benefits of specific plants without having to grow the entire plant. In the case of producing cannabinoids, the technology is estimated to use less than 5% of the land required for conventional cannabis farming allowing for significantly reduced energy, water use and emissions. In addition, in the case of its Superfruit Nutraceutical business, one BioHarvest patented bioreactor produces the equivalent amount of piceid resveratrol that 471 acres (190.6 hectares) of land would require using conventional methods. The project with BOLDT and Summit Strategy Group will document the sustainability credentials of the technology, develop goals for continuous improvement and result in a comprehensive Environment, Social and Governance (ESG) report. Is New 90 Day High Low • Feb 11
New 90-day high: CA$0.57 The company is up 322% from its price of CA$0.14 on 12 November 2020. The Canadian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 18% over the same period. Tillkännagivande • Feb 10
BioHarvest Sciences Inc. Announces a Major Breakthrough in the Growth of Cannabis TRICHOMES across Multiple Strains in Liquid Media BioHarvest Sciences Inc. announced that it is now able to consistently grow Trichomes from multiple cannabis plant strains, in liquid media. Furthermore, BioHarvest is the world's first and only Company to successfully develop the proprietary knowledge required to control the production of cannabis cells in liquid media, and has now developed the unique know-how to optimize the growth performance of these cannabis Trichomes in a predictable and highly efficient manner. Cannabis Trichomes are the "natural factories" that produce the hundreds of distinct cannabinoids, terpenes and flavonoids in the cannabis plant, and their complex structure creates a major challenge for growing them in liquid media. To date, no other company or academic group has publicly claimed to have successfully grown cannabis Trichomes in liquid media, in such a predictable and highly efficient manner. This optimization of the Trichome's growth is a key condition and major enabler for the consistent, cost efficient and sustainable production of plant-cell based cannabis and cannabinoids. BioHarvest has achieved this ground-breaking milestone by leveraging its patented BioFarming technology, independent of any specific cannabis strain genetics. The plant based BioFarming technology produces cannabis cells in a process that is controlled, consistent, aseptic, non-GMO, pesticide-free and chemical-free. Tillkännagivande • Feb 03
BioHarvest Sciences Inc. announced that it has received CAD 6.179932 million in funding On February 2, 2021, BioHarvest Sciences Inc. (CNSX:BHSC) closed the transaction. The company issued 15,449,829 for gross proceeds of CAD 6,179,931.6. The company paid finder’s fees totaling CAD 197,023.20 and received net proceeds of CAD 5,982,908. Tillkännagivande • Jan 22
BioHarvest Sciences Inc. announced that it expects to receive CAD 6 million in funding BioHarvest Sciences Inc. (CNSX:BHSC) announced a private placement of up to 15,000,000 units at a price of CAD 0.40 per unit for gross proceeds of up to CAD 6,000,000 on January 21, 2021. Each unit will consist of one common share and one share purchase warrant. Each share purchase warrant will be exercisable to purchase an additional common share at a fixed price of CAD 0.45 per share for a period of one year from closing. The company will pay finder's fees of up to 5% of the cash proceeds of the transaction, and/or warrants with the same terms as the warrants included in the units equal to 5% of the number of units issued under the transaction. The transaction has been approved by the board of directors of the company. The securities to be issued under the private placement will have a hold period expiring four months and one day from the date of issuance pursuant to applicable Canadian securities laws. Is New 90 Day High Low • Jan 21
New 90-day high: CA$0.43 The company is up 211% from its price of CA$0.14 on 22 October 2020. The Canadian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 12% over the same period. Tillkännagivande • Jan 14
BioHarvest Sciences Inc. Appoints Dennis Goodman to Its Scientific Advisory Board BioHarvest Sciences Inc. announced that it has created a new board of scientific advisors to assist the Company in capitalizing on its proprietary BioFarming technology. The company announced that Dennis Goodman will join the new board of scientific advisors which also includes David Brady (previously announced member of the Company's Board of Advisors) and Yochi Hagay, co-founder and CTO of BioHarvest. Goodman brings over 40 years of relevant medical experience across multiple disciplines, including preventive cardiology. He currently serves as Clinical Professor of Medicine at the New York School of Medicine, Professor of Medicine at the University of Cape Town, Director of Integrative Medicine and Preventive Cardiology at the New York School of Medicine. Professor Goodman has authored a number of scientific articles which have been published in peer reviewed journals as well as a number of abstracts. Is New 90 Day High Low • Dec 30
New 90-day high: CA$0.21 The company is up 45% from its price of CA$0.14 on 29 September 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 12% over the same period. Reported Earnings • Nov 29
Third quarter 2020 earnings released: US$0.004 loss per share Third quarter 2020 results: Net loss: US$1.84m (loss widened 63% from 3Q 2019). Tillkännagivande • Nov 11
BioHarvest Sciences Inc. Announces the Appointment of Rhona Applebaum as Its Senior Consultant for Regulatory and Environmental Affairs BioHarvest Sciences Inc. announced the appointment of Dr. Rhona Applebaum as its Senior Consultant for Regulatory and Environmental Affairs. Dr. Applebaum will assist the company in developing strategies for prompt and cost-effective regulatory approvals of VINIA®, the Company's Red Grape Cell product, and other pipeline products in development across priority geographies and business verticals in order to meet the growing business and consumer demand for health and wellness products. Dr. Applebaum will assist the company in conducting a sustainability assessment of the Company's Biofarming Technology versus conventional farming and other technologies. She will also assist the company in devising and executing a strategy to apply VINIA® to the pharma and medical food markets. In her role, she will report directly to Ilan Sobel, the CEO. Serving most recently as the Coca-Cola Company first Chief Science and Health Officer, Rhona developed and executed the Company's global health and well-being strategy. Tillkännagivande • Oct 30
BioHarvest Sciences Inc. Appoints Roberto Chait to Advisory Board BioHarvest Sciences Inc. announced that it has added Advocate Roberto Chait to the Company's Advisory Board. Adv. Chait brings to the Company a wealth of experience in corporate and international trade law, intellectual property law, and cross border international transactions. His knowledge and expertise in these areas have been acquired representing major global clients across highly relevant industries for the Company including the Food and Beverage, Food Tech, and International Media industries. Roberto Chait has been practicing law for over twenty years. He graduated (cum laude) from the Hebrew University Law School (LL.B). After completing his legal clerkship at the chambers of the President of Israel's Supreme Court (President Meir Shamgar) he pursued his Masters' degree at the London School of Economics (LL.M.) specializing in International Business Law with an emphasis on International Financing and International Trade. Tillkännagivande • Oct 08
BioHarvest Sciences Inc. announced that it has received CAD 3.807759 million in funding On October 7, 2020, BioHarvest Sciences Inc. (CNSX:BHSC) closed the transaction. The company has issued 25,385,061 shares for gross proceeds of CAD 3,807,759.15 in the transaction. The company has issued 3,892,840 shares for gross proceeds of CAD 583,926 in its second tranche. The company paid finder's fees of CAD 29,196.30 in cash and issued 194,642 finder’s warrants in second tranche. Tillkännagivande • Sep 17
BioHarvest Sciences Inc. Signs Exclusive Sales and Distribution Agreement with Batory Foods BioHarvest Sciences Inc. has signed an exclusive performance-driven distribution agreement with Batory Foods. This agreement provides BHSC with a best in class route-to-market for addressing major Food, Beverage, and Nutraceutical companies, enabling it to effectively capture a significant share of the USD 16 Billion USA nutraceutical ingredients market focused on food, beverage, and dietary supplements and the fast-growing U.S. hemp-based CBD market focused on edible CBD, which is valued at USD 2.2. Billion in 2020 and is expected to reach USD 8 Billion by 2025. This partnership solidifies the B2B pillar of BHSC's recently unveiled growth strategy. It not only provides for significant revenue generation and distribution of BHSC's products but also enables BHSC to support significant manufacturing scale enabling BHSC to derive a projected, estimated weighted gross profit margin of 60%-70%, across its combined B2B and B2C Routes to Market. This partnership provides Batory customers with the unique ability to deliver superior functional benefits to their consumers, backed by BHSC's unwavering focus on scientific validation of the efficacy of its products. Additionally, this agreement will, in the future, enable Batory to offer hemp-based CBD with (0.3% THC to major food, beverage, and nutraceutical companies. BHSC's proprietary process will generate hemp-based CBD with fingerprint consistency and a level of cleanliness, quality, and safety which the industry has not experienced before. The agreement will enable BHSC and Batory to be at the forefront of innovative functional solutions to meet the growing health and wellness trends facing the industry. Under the terms of the agreement, to maintain exclusivity, Batory needs to purchase a minimum of $18.6 million CAD of Nutraceutical products over a 7 year period. The maintenance amount ramps up over the term of the agreement in line with BHSC's production capacity and product offerings and will potentially grow further upon the launch of Hemp Based CBD with (0.3% THC. Batory has exclusivity in the U.S. market for all B2B sales of Food and Beverage Customers as well as specific major Nutraceutical customers, with which it has significant relationships with. Commencing immediately, the Batory sales team will focus on the sale of VINIA(r) Red Grape cells to a select group of targeted customers. The launch of VINIA(r) B2B by Batory will be followed in 2022 with Hemp Based CBD with (0.3% THC and other nutraceutical superfruit variants including olive and pomegranate. Tillkännagivande • Sep 09
BioHarvest Sciences Inc. announced that it expects to receive CAD 3.814208 million in funding BioHarvest Sciences Inc. (CNSX:CNVC) announced a private placement of up to 25,428,055 common shares at an issue price of CAD 0.15 per share for gross proceeds of CAD 3,814,208.25 on September 8, 2020. The securities to be issued will be subject to a hold period expiring four months and one day from the date of issuance pursuant to applicable Canadian securities laws. The company will pay 5% cash commission and 5% warrants to registered investment dealers and brokers or to finders in jurisdictions where permitted by law. The warrants will be exercisable at a price of CAD 0.15 per share for a period of 1 year from the date of issuance. Tillkännagivande • Aug 08
BioHarvest Sciences Inc. announced that it has received CAD 0.652379 million in funding On August 6, 2020, BioHarvest Sciences Inc. (CNSX:BHSC) closed the transaction. The company has paid finder's fee and commissions of CAD 25,011 and received net proceeds of CAD 627,368.25 in the transaction. The company also issued 166,766 finder warrants. Each warrant will entitle the holder to purchase a common share at a price of CAD 0.15 for a period of 1 year from the date of issuance. Tillkännagivande • Jul 31
BioHarvest Ltd. completed the acquisition of Canna-V-Cell Sciences Inc. (CNSX:CNVC) in a reverse merger transaction. BioHarvest Ltd. entered into an agreement to acquire Canna-V-Cell Sciences Inc. (CNSX:CNVC) in a reverse merger transaction on December 9, 2019. Canna-V-Cell Sciences Inc. will issue 299.2 million of its shares to to BioHarvest Ltd and 39.6 million warrants to the convertible debt holders of BioHarvest Ltd. who will convert their debt to shares immediately prior to closing. These warrants will replace warrants through which creditors were entitled to receive shares in BioHarvest Ltd. Canna-V-Cell Sciences Inc. will also grant 11.9 million stock options to the Chief Technology Officer of BioHarvest Ltd. and Canna-V-Cell Sciences Inc. BioHarvest's existing shareholding of 48.33 million common shares of CNVC will be returned to CNVC’s treasury. The resulting issuer will be named BioHarvest Sciences Inc. The deal is subject to regulatory approvals including Israeli Securities Authority and Canadian Securities Exchange, agreement of convertible debt holders of BioHarvest to accept the creditor warrants of the CNVC to replace what they would have received on conversion in BioHarvest, termination of BioHarvest’s outstanding options to directors, officers, employees and consultants, approval of shareholders of Canna-V-Cell Sciences Inc. at a meeting to be held on March 30, 2020, indebtedness of BioHarvest at closing not exceeding $0.5 million, 103K/104H Tax Ruling or an interim ruling, having been duly obtained and CNVC completing a concurrent private placement of up to 35.2 million common shares at CAD 0.15 per share. The agreement has been unanimously recommended by a special committee of independent directors of CNVC and by the board of directors of CNVC. The Board of CNVC unanimously recommended that the shareholders vote in favor of the agreement. A special committee of the Board consisting of David K. Ryan and Jake Fiddick will supervise preparation of the valuation and to make recommendations to shareholders. National Issuer Services Ltd. acted as registrar for CNVC. Stephen F.X. O’Neill of O’Neill Law LLP acted as legal advisor for CNVC. Nitzan Hirsch-Falk, Yuval Oren and Raz Ofer of H-F & Co. Law Offices as legal advisors for BioHarvest.
BioHarvest Ltd. completed the acquisition of Canna-V-Cell Sciences Inc. (CNSX:CNVC) in a reverse merger transaction on March 31, 2020. On March 31, 2020, CNVC received CSE conditional approval and approval from the ISA for issuance of shares under the agreement. CNVC also received the Certificate of Merger under the Israeli Companies Law. The transaction received the approval of shareholders of CNVC. The Company will commence trading on the CSE on Thursday April 23, 2020, under the new symbol, BHSC.