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Hofseth BioCare ASA (HOFBF)

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0.90000.0000 (0.00%)
At close: 1:16PM EDT
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Trade prices are not sourced from all markets
Previous close0.9000
Open0.9300
Bid0.0000 x 0
Ask0.0000 x 0
Day's range0.9000 - 0.9000
52-week range0.8800 - 1.1000
Volume2,114
Avg. volume551
Market cap330.244M
Beta (5Y monthly)0.83
PE ratio (TTM)N/A
EPS (TTM)-0.0410
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Globe Newswire

    Hofseth Biocare ASA: PRIMARY INSIDER NOTIFICATION

    Christoph Baldegger, primary insider and member of the Board of Directors in Hofseth BioCare ASA («HBC») has today purchased 50,000 shares in HBC at an average price of NOK 7.7295 per share. As a result of the transaction, Mr. Baldegger holds 700,000 shares in HBC, equal to approx. 0.20 % of the outstanding shares. This information is subject of the disclosure requirements pursuant to sections 4-2 and 5-12 of the Norwegian Securities Trading Act.

  • Globe Newswire

    Hofseth Biocare ASA: FIRST QUARTER 2021 FINANCIAL REPORT

    HBC had net sales revenues of NOK 16.8m (10.4m) in the first quarter and gross operating revenues of NOK 16.8m (18.5m). Gross revenues in first quarter 2020 included NOK 8.2m in insurance claim settlements. Cost of Goods Sold (CoGS) amounted to NOK 8.4m (6.2m) in the quarter. Operational profit (EBITDA) for the first quarter 2021 was NOK -18.8m (-10.2m). Gross margin was 50 % in the first quarter compared to 39 % in the first quarter 2020, adjusted for insurance claim pay out of NOK 8.2m in March 2020. Net financial items in the first quarter were NOK -1.8m (-1.9m). Loss before tax was NOK 26.8m in the quarter, compared to a loss of NOK 17.9m during first quarter in 2020. Cash and cash equivalents decreased by NOK 34.2m during the quarter, leaving total holding of cash and cash equivalents at NOK 138.5m by the end of the period, compared to NOK 68.0m by the end of the first quarter 2020. Including credit facilities, HBC had NOK 175.5m in free liquidity by the end of the first quarter. Highlights: - HBC received the first Salmon Protein purchase orders from US-based organic health supplement firm Garden of Life. The Nestlé-owned company intends to launch new ProGo® consumer protein products which will be available online and for the North American markets in Q3 2021. - Development of a pharmaceutical lead program around eosinophilia inflammation control is on-going with rapid success. We have made and tested several analog compounds of which two have shown better biological activity than the original lead MICR-001 for asthma/COPD treatment via eosinophilia control. - Successfully completed the invitro phase of our gastrointestinal injury / inflammation therapeutic collaborative program and now progressing to a preclinical DSS-induced colitis animal model simulating the pathology of necrotizing enterocolitis (NEC) and inflammatory bowel disease (IBD). R&D focus areas in Q1: i) Identification of the bioactive peptides in SPH that up-regulate the FTH1 gene. The FTH1 gene encodes the heavy chain of ferritin, the storage protein for iron, and this increase has been shown to result in an increase in haemoglobin and correct iron deficiency anaemia (IDA). The identification process has led to 7 closely related peptides which are being individually elucidated for filing a new patent application. The company believes that in 2021 we will be able to carry out the required clinical trials with an IDA-Enhanced-SPH product targeted to anemia and begin the process to file for “new chemical entity” (NCE) status with the FDA. ii) Completed the synthesis of and invitro assays for 12 novel analog compounds based on our MICR-001 lead structure for asthma/COPD treatment via eosinophilia control. One MICR-001 analog (MA-005) showed superior activity to MICR-001 and is being developed further. New patent filings are being prepared. Recruitment for hospitalized Covid-19 patients in Brazil, Mexico, Hungary and Serbia is on-going. iii) The second House Dust Mite allergy mouse animal trial on modulating eosinophilia with OmeGo® was completed successfully and the results are being written up for publication. iv) Successfully completed the invitro (hIESC) phase of our gastrointestinal injury / inflammation therapeutic collaborative program and now progressing to a preclinical DSS-induced colitis animal model simulating the pathology of necrotizing enterocolitis (NEC) / inflammatory bowel disease (IBD) / Leaky gut. v) A second invitro assay for sarcopenia treatment has shown a positive dose response for SPH peptides and myostatin inhibition. For further information, please contact:Jon Olav Ødegård, Chief Financial Officer of Hofseth BioCare ASAPhone: +47 936 32 966E-mail: joo@hofsethbiocare.no James Berger, Chief Commercial Officer of Hofseth BioCare ASAPhone: +41 79 950 10 34E-mail: jb@hofsethbiocare.no About Hofseth BioCare ASA:HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smoker’s lung") as well as clinical work in COVID. The company is founded on the core values of sustainability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo. This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act Attachment HBC Q1 2021 Financial Report

  • Globe Newswire

    Hofseth Biocare ASA: GLOBAL INNOVATION PARTNERSHIP WITH CATALENT TO DEVELOP DELAYED-RELEASE FORMULATION OF OMEGO FISH OIL

    ÅLESUND, NORWAY – May 12, 2021 — Hofseth BioCare ASA (HBC), a Norwegian biotech company that develops high-value ingredients and finished products, today announced that it has begun a global innovation partnership with Catalent, the leading global provider of advanced delivery technologies, development, and manufacturing solutions for drugs, biologics, cell and gene therapies, and consumer health products, to develop a delayed-release formulation of HBC’s OmeGo® fish oil. The partnership will see Catalent use its proprietary OptiGel® DR technology to encapsulate OmeGo®, HBC’s unique fish oil derived from sustainable, traceable, and fresh Norwegian Atlantic salmon. OptiGel DR technology enables an enteric release profile for softgel capsules without the need for an additional external coating, thereby employing a one-step manufacturing process, which avoids the heat and drying of the coating process that may otherwise degrade the fish oil. HBC is currently conducting studies to assess the potential role of OmeGo® fish oil in preventing disease progression and helping to reduce inflammation, including in patients experiencing inflammation caused by COVID-19. Results are expected over the coming months and will provide wide-ranging insights on the potential of OmeGo® fish oil to help the body resolve inflammation driven by a viral infection. “Our research into the health benefits of our unique oil has come a long way in the last 18 months, and we look forward to collaborating with Catalent, and hope to develop the partnership further, to leverage its innovative oral technologies to ensure the most efficacious delivery system,” commented Dr. Bomi Framroze, Chief Scientific Officer of HBC. “OptiGel DR will enhance the OmeGo franchise, bringing advanced delivery technology as well as raising its profile amongst global leading healthcare companies.” “This partnership is an exciting opportunity to combine the features of a high-quality ingredient with our new OptiGel DR capsule technology to create a product that delivers optimal benefits and experience for consumers,” commented Dr. Aris Gennadios, President, Softgel and Oral Technologies, Catalent. “Our rich history and innovation in softgel technology has allowed us to create a dosage form that delivers ingredients and formulations with an enteric release profile in robust capsules, providing product performance to meet consumers’ expectations.” OptiGel DR capsule technology was launched by Catalent in 2020 and offers innovators an opportunity to formulate products in a patient-preferred softgel dosage form with a delayed-release profile that offers many advantages, including protecting active ingredients that may be degraded by acid in the stomach and releasing those active ingredients directly in the intestines where they are absorbed, potentially enhancing bioavailability. The technology also preserves the clarity of the capsule, which is important for HBC to showcase the distinctive colour of OmeGo® fish oil, as well as retaining the characteristic ease of swallowing that consumers associate and prefer with softgel dose forms. For more information on OptiGel DR, visit https://consumerhealth.catalent.com/nutritional-supplements/dose-forms/optigel-dr-softgel-technology For further information, please contact:James Berger, Chief Commercial Officer of Hofseth BioCare ASAPhone: +41 79 950 10 34E-mail: jb@hofsethbiocare.no About CatalentCatalent is the leading global provider of advanced delivery technologies, development, and manufacturing solutions for drugs, biologics, cell and gene therapies, and consumer health products. With over 85 years serving the industry, Catalent has proven expertise in bringing more customer products to market faster, enhancing product performance and ensuring reliable global clinical and commercial product supply. Catalent employs around 15,000 people, including approximately 2,400 scientists and technicians, at more than 45 facilities, and in fiscal year 2020 generated over $3 billion in annual revenue. Catalent is headquartered in Somerset, New Jersey. For more information, visit www.catalent.com More products. Better treatments. Reliably supplied.™ About Hofseth BioCare ASAHBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID. The company is founded on the core values of sustainability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo. This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act