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4D Molecular Therapeutics Reports First Quarter 2023 Financial Results and Operational Highlights

Retrieved on: 
Wednesday, May 10, 2023

We observed excellent tolerability and clinical activity in these high anti-VEGF need patients that we believe support a differentiated profile.

Key Points: 
  • We observed excellent tolerability and clinical activity in these high anti-VEGF need patients that we believe support a differentiated profile.
  • R&D Expenses: Research and development expenses were $22.4 million for the quarter ended March 31, 2023 as compared to $19.4 million for the first quarter of 2022.
  • G&A Expenses: General and administrative expenses were $8.0 million for the quarter ended March 31, 2023 as compared to $8.2 million for the first quarter of 2022.
  • Net Loss: Net loss was $28.7 million for the quarter ended March 31, 2023, as compared to $26.3 million for the first quarter of 2022.

PEI Announces 53% Increase in TPP Reserves in 2022 Reserve Report

Retrieved on: 
Friday, May 5, 2023

In 2022, two horizontal re-entry pilot wells were drilled to assess the technical and economic merits to substantiate a full scale development program.

Key Points: 
  • In 2022, two horizontal re-entry pilot wells were drilled to assess the technical and economic merits to substantiate a full scale development program.
  • The PEI pilots enabled reserves booking of 100 Mbbl TPP reserves per horizontal well, additional PUD locations with total proved (TP) reserves of 1.8 MMbbl and total proved plus probable (TPP) reserves of 2.2 MMbbl.
  • Prospera also exploited uphole zones in these fields with five new recompletions accessing new reserves of 128 Mbbl and 837 MMcf TPP reserves with significant development upside to add new production and reserves.
  • These wells will access new pool reserves and provide PEI with new incremental medium oil production, improving corporate production and margin.

Aevitas Therapeutics, a Fortress Biotech Subsidiary, Announces Asset Purchase Agreement with 4D Molecular Therapeutics for World-Wide Rights to Aevitas’ Short-Form Human Complement Factor H

Retrieved on: 
Monday, April 24, 2023

MIAMI, April 24, 2023 (GLOBE NEWSWIRE) -- Aevitas Therapeutics, Inc. (“Aevitas”), a Fortress Biotech, Inc. (Nasdaq: FBIO) (“Fortress”) subsidiary company, and 4D Molecular Therapeutics (Nasdaq: FDMT) (“4DMT”), a clinical-stage biotherapeutics company harnessing the power of directed evolution for genetic medicines targeting large-market diseases, today announced the execution of an asset purchase agreement for 4DMT to acquire Aevitas’ proprietary rights to its short-form human complement factor H (“sCFH”) asset for the treatment of complement-mediated diseases.

Key Points: 
  • MIAMI, April 24, 2023 (GLOBE NEWSWIRE) -- Aevitas Therapeutics, Inc. (“Aevitas”), a Fortress Biotech, Inc. (Nasdaq: FBIO) (“Fortress”) subsidiary company, and 4D Molecular Therapeutics (Nasdaq: FDMT) (“4DMT”), a clinical-stage biotherapeutics company harnessing the power of directed evolution for genetic medicines targeting large-market diseases, today announced the execution of an asset purchase agreement for 4DMT to acquire Aevitas’ proprietary rights to its short-form human complement factor H (“sCFH”) asset for the treatment of complement-mediated diseases.
  • Under the terms of the agreement, 4DMT will make cash payments to Aevitas totaling up to ~$140 million in potential late-stage development, regulatory and sales milestones.
  • A range of single-digit royalties on net sales are also payable.
  • Partnering with 4DMT further validates the Fortress business model of identifying and developing promising treatments for patients, while pursuing opportunities that potentially maximize shareholder value.

4DMT Acquires Complement Pathway Inhibitor Payload for 4D-175 Product Candidate for Geographic Atrophy

Retrieved on: 
Monday, April 24, 2023

Geographic atrophy is a highly prevalent disease with a significant unmet medical need.

Key Points: 
  • Geographic atrophy is a highly prevalent disease with a significant unmet medical need.
  • According to published estimates, there are over one million individuals with GA in the U.S. alone as of 2022.
  • The first treatment for GA, complement inhibitor pegcetacoplan injection, was approved in the U.S. in February 2023 and is administered by intravitreal (IVT) injection once every 25 to 60 days.
  • Complement Factor H (CFH) is a master regulator of the complement system, functioning as a natural inhibitor of the alternative complement pathway.

TRILLION ENERGY RECEIVES DECEMBER GAS REVENUES FOR SASB

Retrieved on: 
Wednesday, January 25, 2023

Vancouver, B.C., Jan. 25, 2023 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62).

Key Points: 
  • Vancouver, B.C., Jan. 25, 2023 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62).
  • Trillion is pleased to provide an update on revenue receipts and production data from SASB for the month of December 2022 for the two new producing wells.
  • Trillion’s 49% share of December 2022 gas production (net of utility gas volumes) was 87.4 MMcf, generating USD $2,647,053 before royalties (US $2,342,633 after royalties) net to the Company.
  • “As per our plan, the gas revenues generated are being used to fund further drilling activities at SASB.

Canacol Energy Ltd. Provides Update on Gas Sales and Drilling Programs

Retrieved on: 
Monday, October 3, 2022

Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 166 million standard cubic feet per day (MMscfpd) for August 2022, and 191 MMscfpd for September 2022.

Key Points: 
  • Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 166 million standard cubic feet per day (MMscfpd) for August 2022, and 191 MMscfpd for September 2022.
  • This, coupled with high reservoir levels due to intense rains, temporarily reduced interruptible gas sales which recovered to normal levels in September.
  • The Corporation completed the drilling of the Canaflecha 2 well located on the Esperanza Block, operated by CNE OIL & GAS S.A.S.
  • Realized contractual gas sales is defined as gas produced and sold plus gas revenues received from nominated take or pay contracts.

Canacol Energy Ltd. Provides July Gas Sales, Tests Cornamusa 1 Discovery at 12.4 MMSCFPD

Retrieved on: 
Thursday, August 4, 2022

Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 197 million standard cubic feet per day (MMscfpd) for July 2022.

Key Points: 
  • Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 197 million standard cubic feet per day (MMscfpd) for July 2022.
  • As announced in June 2022, the Corporation completed the drilling of the Cornamusa 1 exploration well located on the VIM-21 Block operated by Canacol Energy Colombia S.A.S.
  • Following an initial clean up period, the well was flow tested for 29 hours at an average rate of 6.7 MMscfd.
  • Realized contractual gas sales is defined as gas produced and sold plus gas revenues received from nominated take or pay contracts.

Blackstone Credit Acquires 49% Interest in U.S. East Coast LNG Infrastructure Asset

Retrieved on: 
Friday, May 20, 2022

Blackstone Credit has acquired EIGs 49% ownership interest in Elba Liquefaction Company (ELC), a joint venture entity of the Elba Island LNG facility.

Key Points: 
  • Blackstone Credit has acquired EIGs 49% ownership interest in Elba Liquefaction Company (ELC), a joint venture entity of the Elba Island LNG facility.
  • ELC generates stable cash flow under a 20 year contract (plus extension rights) with an investment grade counterparty, providing long duration income to its owners.
  • J.P. Morgan Securities LLC acted as exclusive financial advisor and Milbank LLP served as Blackstone Credits legal counsel on the transaction.
  • Blackstone Credit is one of the world's largest credit-focused asset managers, with $230 billion in AUM.

Caracara Services Forms Strategic Gas Treatment Joint Venture to Increase Sequestration Access, Drive Toward Carbon Neutrality

Retrieved on: 
Monday, May 16, 2022

As the hydrocarbon industry evolves in the global energy transition, Caracara Services is uniquely positioned for growth.

Key Points: 
  • As the hydrocarbon industry evolves in the global energy transition, Caracara Services is uniquely positioned for growth.
  • After treating, the facility will be able to deliver sweet natural gas to multiple third-party midstream companies operating in West Texas.
  • Caracara Services, LLC (Caracara) constructs, owns, and operates carbon capture, utilization, and sequestration (CCUS) infrastructure that unlocks economic value for oil and gas operators and midstream companies.
  • The Caracara team has a track record of providing environmentally friendly and innovative solutions in the water treatment, natural gas treatment and carbon sequestration industries.

Prairie Provident Announces Successful Second Half 2021 Drilling Program

Retrieved on: 
Tuesday, December 14, 2021

CALGARY, Alberta, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. (Prairie Provident, PPR or the Company) is pleased to provide an operational update outlining the successful second half 2021 drilling program in its core Princess area.

Key Points: 
  • CALGARY, Alberta, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. (Prairie Provident, PPR or the Company) is pleased to provide an operational update outlining the successful second half 2021 drilling program in its core Princess area.
  • Two Lithic Glauconite horizontal wells and one Ellerslie horizontal well were brought online in the second half of 2021.
  • The 2021 second half 3-well program began with the 103/11-13-018-11W4 drilled in the Ellerslie formation with 75% of the lateral in fair to good reservoir with oil shows throughout.
  • Prairie Provident is a Calgary-based company engaged in the exploration and development of oil and natural gas properties in Alberta.