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Omega Flex, Inc. Announces Fourth Quarter 2023 Earnings

Retrieved on: 
Wednesday, March 6, 2024

EXTON, Pa., March 06, 2024 (GLOBE NEWSWIRE) -- Dean W. Rivest, CEO, announced that net sales of Omega Flex, Inc. (the “Company” or “Omega Flex”) for 2023 and 2022 were $111,465,000 and $125,487,000, respectively, decreasing 11.2%.  Net sales for the fourth quarter of 2023 were 8.7% lower than during the same period in 2022.   The decrease in net sales was mainly due to lower sales unit volumes as a result of the overall market continuing to be suppressed because of, among other factors, a decline in housing starts.

Key Points: 
  • EXTON, Pa., March 06, 2024 (GLOBE NEWSWIRE) -- Dean W. Rivest, CEO, announced that net sales of Omega Flex, Inc. (the “Company” or “Omega Flex”) for 2023 and 2022 were $111,465,000 and $125,487,000, respectively, decreasing 11.2%.
  • Net sales for the fourth quarter of 2023 were 8.7% lower than during the same period in 2022.
  • The Company’s net income for 2023 was $20,763,000 compared to $23,622,000 during 2022, decreasing $2,859,000 or 12.1%, mainly due to the decrease in net sales.
  • The words “believes,” “expects,” “intends,” “plans,” “anticipates,” “hopes,” “likely,” “will,” and similar expressions identify such forward-looking statements.

Orchestra BioMed Announces Presentation of Results from Clinical Study Demonstrating Favorable Hemodynamic Effects of AVIM Therapy In Hypertensive Pacemaker Patients

Retrieved on: 
Wednesday, March 6, 2024

These data demonstrate the favorable impact of AVIM therapy compared to standard right ventricular (RV) pacing on systolic blood pressure and overall cardiac function when delivered using both conduction system andstandard pacing lead locations.

Key Points: 
  • These data demonstrate the favorable impact of AVIM therapy compared to standard right ventricular (RV) pacing on systolic blood pressure and overall cardiac function when delivered using both conduction system andstandard pacing lead locations.
  • The PV loop study was conducted at Na Homolce Hospital in Prague by Prof. Petr Neužil, M.D.
  • AVIM therapy is an investigational patented bioelectronic therapy, administered using a standard dual-chamber pacemaker, designed to immediately, substantially and persistently reduce blood pressure.
  • “Well-conducted invasive PV loop studies are a robust way to evaluate the impact of a novel therapy like AVIM on hemodymanics and overall cardiac function.

Nexalin Technology Announces Positive Results from Clinical Study of its Gen-2 tACS Device for Treating Adult Patients with Chronic Insomnia

Retrieved on: 
Wednesday, March 6, 2024

HOUSTON, TEXAS, March 06, 2024 (GLOBE NEWSWIRE) -- Nexalin Technology, Inc. (the “Company” or “Nexalin”) (Nasdaq: NXL; NXLIW) today announced positive results of a clinical study of its Gen-2 tACS device (“tACS”) for the treatment of chronic insomnia. This clinical study, conducted at Xuanwu Hospital of Capital Medical University in Beijing and Beijing Anding Hospital, evaluated the treatment response of 120 adult participants who were divided into two prespecified age subgroups.

Key Points: 
  • Key data reported from the study suggests that tACS ameliorates chronic insomnia, and that age can impact the extent of the resulting improvement from tACS treatment.
  • Older participants (ages 50 and over) experienced comparatively more significant benefits from tACS, in terms of enhanced sleep quality, efficiency and overall insomnia reduction (p
  • This is attributed to the natural changes in sleep physiology that occur with aging and the distinct manifestations of insomnia symptoms in older individuals.
  • The clinical study’s results, which were published in the Journal of Psychiatric Research, showed that tACS meaningfully reduced the severity of insomnia and enhanced sleep quality and efficiency.

Crosschq Ranks No. 7 on Inc. Magazine’s List of the Pacific Region’s Fastest-Growing Private Companies  

Retrieved on: 
Wednesday, March 6, 2024

SAN FRANCISCO, March 06, 2024 (GLOBE NEWSWIRE) -- Inc. magazine today revealed that Crosschq is No.7 on its fourth annual Inc. 5000 Regionals’ Pacific list, the most prestigious ranking of the fastest-growing private companies.

Key Points: 
  • SAN FRANCISCO, March 06, 2024 (GLOBE NEWSWIRE) -- Inc. magazine today revealed that Crosschq is No.7 on its fourth annual Inc. 5000 Regionals’ Pacific list, the most prestigious ranking of the fastest-growing private companies.
  • Born of the annual Inc. 5000 franchise, this highly competitive regional list represents a unique look at the most successful companies within the Pacific economy’s most dynamic segment–its independent small businesses.
  • Fitzsimmons continued, “Prior to Crosschq, establishing quality of hire as a corporate KPI was an insurmountable yet highly sought-after objective.
  • “The honorees in our Inc. 5000 network are the Who’s Who of private companies.

Bionano Reports Fourth Quarter and Full-Year 2023 Results and Provides Revenue Outlook for 2024

Retrieved on: 
Tuesday, March 5, 2024

Total revenue for the fourth quarter of 2023 was $10.7 million, an increase of 30% compared to the fourth quarter of 2022.

Key Points: 
  • Total revenue for the fourth quarter of 2023 was $10.7 million, an increase of 30% compared to the fourth quarter of 2022.
  • GAAP gross margin for the fourth quarter of 2023 was 23%, which was slightly higher than the 22% GAAP gross margin reported for the fourth quarter of 2022.
  • Fourth quarter 2023 GAAP operating expense was $27.4 million, compared to $39.3 million in the fourth quarter of 2022.
  • Fourth quarter 2023 non-GAAP operating expense was $27.3 million, compared to $30.6 million in the fourth quarter of 2022.

Tiny Health, Pioneer of the First At-Home Baby Gut Microbiome Test, Aims to Address the Pediatric Chronic Conditions Crisis

Retrieved on: 
Tuesday, March 5, 2024

The partnership enables Tiny Health to continue trailblazing the gut health testing category and avert the pediatric chronic conditions crisis.

Key Points: 
  • The partnership enables Tiny Health to continue trailblazing the gut health testing category and avert the pediatric chronic conditions crisis.
  • Families are facing a pediatric chronic conditions crisis, with increasing rates of eczema, asthma, diabetes, obesity, food allergies, ADHD, autoimmune diseases, and more.
  • I founded Tiny Health to bridge the gap in the market, help address the pediatric chronic conditions crisis, and empower families to take a proactive approach to their lifelong health.
  • Since its inception, Tiny Health has pioneered the family gut testing category including:
    Established the first, at-home gut microbiome test for babies.

CervoMed Announces Presentation of Biomarker Data from the AscenD-LB Phase 2a Trial and Preclinical Data Supporting Potential of Neflamapimod in Tau-Mediated Disease at AD/PD ™ 2024

Retrieved on: 
Tuesday, March 5, 2024

BOSTON, March 05, 2024 (GLOBE NEWSWIRE) -- CervoMed Inc. (NASDAQ: CRVO), a clinical stage company focused on developing treatments for degenerative diseases of the brain, today announced the presentation of biomarker data from the AscenD-LB Phase 2a trial of neflamapimod in patients with dementia with Lewy bodies (DLB), demonstrating that neflamapimod reduces plasma levels of glial fibrillary acidic protein (GFAP) compared placebo, and that the effects of neflamapimod on GFAP were inversely correlated to change in CDR-SB (reduction in GFAP associated with improvement in CDR-SB, and increase in GFAP associated with worsening in CDR-SB). These data will be featured in a poster presentation at the 18th International Conference on Alzheimer’s and Parkinson’s Diseases (AD/PD™) 2024, being held both virtually and in Lisbon, Portugal from March 5–9, 2024. In addition, academic researchers from UCL will be presenting data in a separate poster at the meeting demonstrating that p38MAPK inhibition, including with neflamapimod specifically, improves tau-induced axonal transport defects both in vitro and in a tauopathy mouse model.

Key Points: 
  • These data will be featured in a poster presentation at the 18th International Conference on Alzheimer’s and Parkinson’s Diseases (AD/PD™) 2024, being held both virtually and in Lisbon, Portugal from March 5–9, 2024.
  • “The effects on GFAP, particularly the association between GFAP response and clinical outcomes, further support that neflamapimod is clinically efficacious in patients with DLB,” said John Alam, MD, Chief Executive Officer of CervoMed.
  • A PDF copy of the GFAP poster presentation will be available on the “ Presentations and Publications ” section of the CervoMed website.
  • Title: NEW INSIGHTS IN THE DEVELOPMENT OF BIOMARKERS, IMAGING, AND THERAPY OF ALPHA-SYNUCLEIN, LRKK2, AND GBA PATHOLOGIES

Intelligent Scopes Launches Helga AI-GEP™, an AI Platform for Gastroenterology with the Commencement of Validation of its AI Software Tool for Colon Cancer

Retrieved on: 
Monday, March 4, 2024

NEW YORK and LONDON, March 04, 2024 (GLOBE NEWSWIRE) -- Intelligent Scopes Corp, specializing in state-of-the-art image enhancement and precision AI software solutions for gastroenterology and urology, is pleased to announce the completion of its AI platform for gastroenterology, namely, Helga AI-GEP™.

Key Points: 
  • NEW YORK and LONDON, March 04, 2024 (GLOBE NEWSWIRE) -- Intelligent Scopes Corp, specializing in state-of-the-art image enhancement and precision AI software solutions for gastroenterology and urology, is pleased to announce the completion of its AI platform for gastroenterology, namely, Helga AI-GEP™.
  • The platform will offer computer aided devices for detection, classification and characterization of lesions and tissue irregularities in the colon (colon cancer) and the upper gastrointestinal tract (esophageal and gastric cancer).
  • Validation is commencing with its AI software tool, namely, Helga iCAP™ for the detection of colonic conditions.
  • As such, Intelligent Scopes collaborates with key stakeholders including clinicians, academia, and equipment manufacturers to provide tools that can aid endoscopists in providing optimal care to patients.

Vytelle Expands Presence in Nebraska Region with the Opening of its 17th Global Laboratory, Ushering in a New Level of Accessibility to Hormone-Free in vitro Fertilization (IVF) for Cattle Producers

Retrieved on: 
Monday, March 4, 2024

This expansion further signifies Vytelle's commitment to providing innovative reproductive solutions and unparalleled access to hormone-free IVF for beef and dairy producers.

Key Points: 
  • This expansion further signifies Vytelle's commitment to providing innovative reproductive solutions and unparalleled access to hormone-free IVF for beef and dairy producers.
  • With its newest laboratory situated in Nebraska, a region known for elite cattle genetics and performance-focused herds, Vytelle continues to revolutionize the way livestock reproduction is managed.
  • The expansion will enable local producers to access Vytelle ADVANCE™, a breakthrough in vitro fertilization (IVF) technology, empowering them to further enhance their herds' genetic potential and overall productivity.
  • The Nebraska-based laboratory offers increased accessibility to modern reproduction technology and enables the possibility of fresh embryo transfers for producers in the region.

Doman Building Materials Group Ltd. Completes Acquisition of Southeast Forest Products Treated Assets

Retrieved on: 
Friday, March 1, 2024

VANCOUVER, British Columbia, March 01, 2024 (GLOBE NEWSWIRE) -- Doman Building Materials Group Ltd. (“Doman” or “the Company”) (TSX:DBM) today announced that a wholly owned subsidiary in the United States doing business as Doman Lumber has acquired two lumber pressure treating plants, related equipment and the business (the “Plants”) formerly owned by Southeast Forest Products Treated, Ltd. in Richmond, Indiana and near Birmingham, Alabama (the “Acquisition”).

Key Points: 
  • VANCOUVER, British Columbia, March 01, 2024 (GLOBE NEWSWIRE) -- Doman Building Materials Group Ltd. (“Doman” or “the Company”) (TSX:DBM) today announced that a wholly owned subsidiary in the United States doing business as Doman Lumber has acquired two lumber pressure treating plants, related equipment and the business (the “Plants”) formerly owned by Southeast Forest Products Treated, Ltd. in Richmond, Indiana and near Birmingham, Alabama (the “Acquisition”).
  • The Acquisition adds approximately 300 million board feet of annual treating capacity to the Doman Lumber platform.
  • This strategic acquisition exemplifies our strategy of adding scale and volume to our US operations in pressure treated lumber and specialty wood products, headquartered in Dallas,” said Amar Doman, Chairman and CEO of Doman.
  • The Company expects the Acquisition to be accretive to earnings in the current fiscal year and in-line with its vision and overall growth strategy.