Quarter

fitness

B2Digital Reports 126% Q/Q Topline Growth, Projects Current Quarter Acceleration, Major Expansion in Fitness Facility Strategy

Tampa, FL – ( NewMediaWire ) – December 03, 2020 – B2Digital Incorporated (the “Company” or “B2Digital”) (OTCMKTS:BTDG), the premier development league for mixed martial arts (“MMA”), is excited to update shareholders on the Company’s outlook and the accelerating organic and strategic growth underway in its Gym segment, as well as its performance related to this strategy during the three months ended September 30, 2020, and its expectations for related performance during the current quarter ending December 31, 2020, and beyond.

Note that projections and guidance outlined below assume an absence of further regulatory lockdowns related to Covid-19 as well as the widespread distribution of a safe and effective vaccine during 2021.

“Based on the strategy we have in place – and the assumption that we don’t see major new pandemic-related shutdowns that impact the business – we are targeting $4-5 million on the topline over the rolling forward next twelve months,” commented Greg P. Bell, CEO of B2Digital. “This is based on the growth we are seeing now and the continued successful implementation of the company’s roll-up strategy in our Fitness Facility segment, which is the real breadwinner in our broad vision. We are already on pace to more than double the topline on a sequential quarterly basis into year-end.”

During the three months ended September 30, 2020, B2Digital saw a 76% jump in Gym revenues on a sequential quarterly basis. In addition, the Company increased overall revenues across segments totaling topline growth on a sequential quarterly basis during the quarter of 126%. Management also notes that, based on performance thus far and an assumption of no new pandemic-related shutdowns relevant to its current fitness facility operations, it projects a pace to achieve double the top line revenue in Q3 compared to Q2 of this year for the three months ending December 31, 2020.

In addition, the Company plans to continue its roll-up strategy in the fitness facility market over the coming twelve months. The Company’s objective is to acquire one to two new gym facilities every quarter with our goal to increase these acquisitions as the spread of Covid-19 decreases nationally. Thus far, each acquisition the Company makes in the fitness facility space is believed to represent at least $400K per year in rolling forward next twelve-month revenues based on past historical performance.

At this pace, given current metrics and assumptions, including no major return of mandated pandemic-related shutdowns relevant to its current fitness facilities, the Fitness Facility segment could achieve just shy of $4 million in revenues over the rolling forward next twelve months if the company’s acquisition objectives are executed as planned. Paired with a conservative assumption of $75K – $100K in monthly revenues from its live MMA events, encompassing 3 planned fights a month at current revenue achievement rates per fight, the Company believes it has the potential to achieve total revenues of at least $4 to $5 million over the rolling forward twelve months.

“Each acquisition we make in the Fitness Facility space is

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medicine

Schwazze, Formerly Operating as Medicine Man Technologies, Inc., Provides Business Update and Announces Strong Third Quarter 2020 Financial Results

DENVER–(BUSINESS WIRE)–Schwazze, formerly operating as Medicine Man Technologies Inc. (OTCQX:SHWZ) (“Schwazze ” or “the Company”), today provided a business update and announced strong financial results for its third quarter ended September 30, 2020.

Justin Dye, Chairman and Chief Executive Officer of Schwazze shared, “We are pleased with our progress in the third quarter. We continued to grow revenue and meaningfully narrow our net loss. Our third quarter performance demonstrates the team’s ability to implement our operating playbook and successfully integrate strategically attractive and accretive acquisitions such as Mesa Organics and Purplebee’s, which have proven to be an excellent strategic fit, into our operations.”

Dye continued, “We are eager to complete our acquisitions of Star Buds’ 14 Colorado locations during the fourth quarter. Star Buds is one of the most recognized and successful retail cannabis operators in North America. These acquisitions position us to become a cannabis leader in Colorado by combining their industry expertise with our best-in-class playbook. Together, we are creating the next era of cannabis that lowers the barrier of acceptance for mainstream America and accelerates innovation in health, happiness and quality of life for consumers.”

Business Update

  • On November 5, 2020, the Company announced that it has received satisfactory proof of funds acknowledgement from Star Buds in anticipation of closing the pending transactions. This acknowledgment enables companies to begin preparing for a fourth quarter 2020 closing of the acquisitions of 13 retail operations located throughout the Colorado front-range and one cultivation facility in Denver.
    • Star Buds is one of the most recognized and successful retail cannabis operators in North America based on revenue-per-location and profit. Upon completion of this transaction, the Company will be one the first publicly traded companies with full seed to sale operations in Colorado consisting of 17 dispensaries, manufacturing, and cultivation.
    • Based on the consolidated, unaudited 2019 results the Company received from Star Buds, these acquisitions collectively earned approximately $50M in revenue with a strong EBITDA margin.
    • The proforma revenue for the combined companies for 2020 will be approximately $90M and the combined companies will be profitable and cash flow positive after the completion of the acquisition.
  • On September 9, 2020, the Company announced that Nirup Krishnamurthy, Chief Integration and Information Officer, was named Chief Operating Officer, and Jeff Garwood, former GE executive, was appointed to the Schwazze Board of Directors.
    • Nirup Krishnamurthy has since assumed oversight of Schwazze’s business units including retail, manufacturing, cultivation, wholesale sales, and marketing to drive operational excellence throughout field operations. He has also continued to be responsible for the alignment and prioritization of the ongoing integration of the Company’s acquisitions and for driving technology innovation across the organization. Krishnamurthy joined Schwazze earlier this year, bringing more than 25 years of experience in operations, innovation, technology, integration and M&A at Fortune 500 companies including United Airlines, Northern Trust Bank and former grocery retailer The Great Atlantic & Pacific Tea Company (A&P).
    • Jeff Garwood is a recognized visionary business leader bringing 30 years of extensive experience across
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fitness

Planet Fitness Stock Had a Terrible Quarter. Here’s Why It’s Still a Buy

Gyms have been one of the business models hurt most by the pandemic. Lockdowns had forced most gyms to shut down, and some simply never reopened. For gyms open today, strict capacity restrictions provide yet another temporary headwind for success.

Considering all of this, it’s no wonder that Planet Fitness (NYSE:PLNT) had such a bad quarter. Regardless, it is a strong long-term buy.

How is the company is doing today?

A man and a women running on treadmills in a gym

Image source: Getty Images.

In Planet Fitness’ most recent quarter, it posted a 36.8% year-over-year decrease in revenues and a 5.6% year-over-year decrease in same-store sales. Its adjusted EBITDA was cut in half to $32 million, and the company reported its first GAAP net income loss in years — ouch. Encouragingly for investors, management believes brighter days are ahead.

In the same report, CEO Chris Rondeau pounded the table on his conviction in long-term market share gains for Planet Fitness. The structure of its operations deserves a lot of the credit for that.

Fortunately for the company, its franchisee business model creates an asset-light approach to operating gyms. Rather than owning the vast majority of Planet Fitness locations, the company collects rent from franchisees owning roughly 75% of stores. This approach allows Planet Fitness to enjoy EBITDA margins double that of competitors like Crunch Fitness, and enabled staying-power for Planet Fitness while others like Gold’s Gym declared bankruptcy due to the pandemic.

The profile of a typical Planet Fitness franchisee is also ideal. Company franchisees own, on average, 20 locations in multiple states. This fosters durability among Planet Fitness location-owners, which also served the company immensely well during a tough 2020.

It’s nice that Planet Fitness can survive turbulent times, but how will it perform as the world begins to recover? Early signs are positive.

Today, 95% of Planet Fitness locations are open once more. Usage rates at the open locations are surprisingly in line with pre-COVID levels, and its membership of 14.1 million is flat from before the pandemic. Ideally, member count would be growing — but considering the global pandemic, status quo is just fine.

In September, Planet Fitness resumed national marketing for the first time since the pandemic began. The early results have been solid, with a chunk of locations actually returning to positive year-over-year membership growth during the quarter. Based on the early advertising success, the national gym chain decided to increase funds allocated to marketing for the rest of 2020. This does not sound like a struggling company.

While the pandemic has been a massive demand shock for gym chains, people will likely still want to work out when they feel it’s safe to do so. With Planet Fitness’ industry-low $10-a-month membership — and the economic pain cause by COVID-19 — it’s reasonable to believe the company could emerge out of the pandemic even stronger than before.

More growth to come

Through all of the chaos, Planet Fitness opened 29 new locations during the quarter and began to capitalize on the industry consolidation it has

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medicine

Editas Medicine Announces Third Quarter 2020 Results and Update

EDIT101 for LCA10 BRILLIANCE trial adult low-dose cohort completed

EDIT-301 for sickle cell disease on track for IND filing by end of 2020

EDIT-201 for solid tumors preclinical data to be presented at SITC and ASH

Cash, cash equivalents, and marketable securities of $541 million as of September 30, 2020

CAMBRIDGE, Mass., Nov. 05, 2020 (GLOBE NEWSWIRE) — Editas Medicine, Inc. (Nasdaq: EDIT), a leading genome editing company, today reported business highlights and financial results for the third quarter of 2020.

“We were pleased to regain full operating control of our ocular programs per our new agreement with AbbVie, which provides us with important flexibility. We have finished dosing the first cohort with EDIT-101 in the landmark BRILLIANCE trial and enrollment remains active,” said Cynthia Collins, Chief Executive Officer of Editas Medicine.

Ms. Collins continued, “The advancements in our ocular portfolio are complemented by the strategic development of our engineered cell medicines. We are on track to file the IND for EDIT-301 for sickle cell disease in the fourth quarter and are eager to present additional data on this potentially best-in-class medicine and our large-scale manufacturing process at the upcoming American Society of Hematology Annual Meeting. Substantial progress has also been made in the development of EDIT-201, an allogeneic NK cell medicine to treat solid tumors. Preclinical data to be presented at ASH show enhanced tumor killing with EDIT-201 compared to unedited NK cells, and additional data on this program will be featured at the upcoming Society for Immunotherapy of Cancer’s Annual Meeting.”

Recent Achievements and Outlook

In Vivo CRISPR Medicines  

  • EDIT-101 for LCA10
    BRILLIANCE Phase1/2 adult low-dose cohort completed
    Editas Medicine (Company) has completed dosing of the first cohort of adult patients with visual light perception only administered the low dose of EDIT-101. Trial enrollment remains active but has experienced a slowdown due to the ongoing impact of the COVID-19 pandemic. 

  • Ocular Medicines
    Regained full control of ocular medicines
    Editas Medicine terminated its 2017 agreement with Allergan, now part of AbbVie, and entered a new agreement with AbbVie that returned development and commercialization rights for ocular medicines to Editas Medicine. As part of the new agreement, AbbVie has transferred supplier contracts, including with the contract research organization (CRO), as well as sponsorship of the investigational new drug application (IND) for the BRILLIANCE Phase 1/2 clinical trial to Editas Medicine. The Company plans to continue to advance ocular medicines, including EDIT-101 for Leber congenital amaurosis 10 (LCA10).

Ex Vivo CRISPR Cell Medicines  

  • EDIT-301 for Sickle Cell Disease and Beta-Thalassemia
    On track for IND filing by end of 2020
    Editas Medicine continues to prepare for a Phase 1/2 clinical trial evaluating EDIT-301 for the treatment of sickle cell disease. The Company has completed preclinical toxicology studies, identified a lead principal investigator, and engaged a CRO. Clinical trial materials are being manufactured by Editas Medicine. The Company remains on track to file an IND for the treatment of sickle cell disease by

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health

HEXO Corp to Release Fourth Quarter and Fiscal Year 2020 Financial Results and Host Investor Webcast

OTTAWA, Oct. 27, 2020 (GLOBE NEWSWIRE) — HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO) plans to release its complete financial results for the quarter and fiscal year ended July 31, 2020, after market hours on Thursday, October 29, 2020, as well as host a webcast for investors and analysts beginning at 8:30 a.m. EDT on Friday October 30, 2020.

Webcast Details
Date: October 30, 2020
Time: 8:30 a.m. EDT
Webcast:  https://event.on24.com/wcc/r/2771524/47E7001045651D265D3F12D203F6F5A4

For previous quarterly results and recent press releases, see hexocorp.com.

About HEXO

HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. The Company serves the Canadian adult-use markets under its HEXO Cannabis, Up Cannabis and Original Stash brands, and the medical market under HEXO medical cannabis. For more information please visit hexocorp.com.

Forward Looking Statements

This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are based on certain expectations and assumptions and are subject to known and unknown risks and uncertainties and other factors that could cause actual events, results, performance and achievements to differ materially from those anticipated in these forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.

Investor Relations:
[email protected]
www.hexocorp.com 

Media Relations:
(819) 317-0526
[email protected] 

Source Article

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health

Trxade Group Reports Record Third Quarter 2020 Financial Results

Revenues Increase 174% to Third Quarter Record of $6.3 Million; Continues Nationwide Platform Expansion

TAMPA, FL, Oct. 26, 2020 (GLOBE NEWSWIRE) — Trxade Group, Inc. (NASDAQ: MEDS), an integrated drug procurement, delivery and healthcare platform, has provided its financial results for the third quarter ended September 30, 2020.

Selected Financial Highlights

$ in millions

 

Q3
2020

 

 

Q3
2019

 

 

% Increase
(Decrease)

 

Revenues

 

$

6.3

 

 

$

2.3

 

 

 

174

%

Gross Profit

 

$

1.9

 

 

$

1.3

 

 

 

47

%

Gross Margin

 

 

30.5

%

 

 

56.7

%

 

 

(26.2

)%

Net Income

 

$

0.14

 

 

$

0.03

 

 

 

402

%

Adjusted EBITDA*

 

$

0.67

 

 

$

0.27

 

 

 

150

%

*

Adjusted EBITDA is a non-GAAP financial measure and is described in relation to its most directly comparable GAAP measure under “Use of Non-GAAP Financial Information” below.

Third Quarter 2020 and Subsequent Operational Highlights

 

Trxade continued to expand its platform nationwide, adding 144 new independent pharmacies in Q3 2020, bringing the total registered pharmacy members to around 11,800.

 

 

 

 

Launched Bonum+, a B2B platform under the Company’s telehealth subsidiary Bonum Health, which bundles telehealth, a COVID-19 risk assessment tool and a Personal Protective Equipment (PPE) purchasing tool through a secure mobile dashboard for corporate clients.

 

 

 

 

Announced prescription savings partnership with SingleCare, a free prescription savings service, to supplement Bonum Health’s enterprise telehealth solutions with prescription discounts offered to national, regional and local pharmacies to promote the benefit to uninsured patients and underserved communities.

Management Commentary

“The third quarter was highlighted by our impressive financial results, growing revenues 174% year-over-year, due to both robust PPE sales and ever more pharmacies joining the Trxade marketplace platform,” said Suren Ajjarapu, Chairman and Chief Executive Officer. “The COVID-19 pandemic has only underscored the importance of an integrated platform like ours, which enables independent pharmacies to remain competitive and profitable in a changing drug procurement marketplace.”

“The Trxade marketplace platform at the core of our business has continued to grow, with 144 new pharmacies added in the quarter – bringing our total to around 11,800,” added Mr. Ajjarapu.

“Our telehealth subsidiary, Bonum Health, continues to expand the breadth of its service offerings, providing not only telehealth solutions, allowing individuals to speak with a doctor and obtain prescriptions remotely – but further allowing them to purchase prescriptions at a discount through partnerships with companies like SingleCare, and identify a pharmacy near them for pickup. We have concurrently expanded our offerings to employers, who can use our Bonum+ platform to manage COVID-19 risk through a comprehensive interface, helping enable employees to safely return to work.”

“We are a nimble organization and remain well-positioned to address emerging opportunities in the industry through our various business units, having created an unrivaled drug procurement marketplace platform for independent pharmacies, as well as a comprehensive healthcare solution for consumers centered around the independent pharmacy ecosystem. I look forward to our continued progress in the months ahead – creating sustainable, long-term value for our stockholders,” concluded Mr. Ajjarapu.

Third Quarter 2020 Financial Summary

 

Revenues for the third

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health

Poxel Provides Corporate Update and Reports Cash and Revenue for the Third Quarter and Nine Months 2020

  • Imeglimin New Drug Application in Japan (J-NDA) was submitted for the treatment of type 2 diabetes in July 2020 and a target launch is expected in fiscal year 20211; a milestone payment of EUR 4 million was received in Q3 2020 from Sumitomo Dainippon Pharma

  • Imeglimin Phase 3 TIMES results were presented at the 56th European Association for the Study of Diabetes (EASD) meeting; Phase 2b, Phase 3 TIMES results, and additional safety data were presented at the 63rd Annual Meeting of Japanese Diabetes Society (JDS)

  • PXL770 Phase 2a trial for the treatment of NASH met its primary efficacy endpoint and trial objectives, and it was observed to be safe and well tolerated

  • PXL770 profile supports development in NASH and also further evaluation for combination use, as well as utility of adenosine monophosphate-activated protein kinase (AMPK) activation in other chronic and rare metabolic diseases

  • PXL065 Phase 2 trial was initiated in biopsy-proven NASH patients in September 2020; streamlined development with a single Phase 2 trial given knowledge of pioglitazone, including data in NASH, and 505(b)(2) regulatory pathway, which offers the opportunity for an efficient and lower risk development program

  • As of September 30, 2020, cash and cash equivalents were EUR 41.5 million (USD 48.6 million)

POXEL SA (Euronext – POXEL – FR0012432516), a biopharmaceutical company focused on the development of innovative treatments for metabolic disorders, including type 2 diabetes and non-alcoholic steatohepatitis (NASH), today provided a corporate update and announced its cash position and revenue for the third quarter and the nine months ended September 30, 2020.

“During the third quarter, we continued to make significant progress and accomplished a number of important clinical and corporate objectives, including reporting positive results from a Phase 2a proof-of-concept trial for PXL770, demonstrating its potential in NASH. These results are the first human clinical assessment of a direct AMPK activator and support longer-term evaluation of important histological endpoints, such as inflammation and fibrosis, and exploring subpopulations for further differentiation. The data also demonstrate that AMPK activation may lead to broader utility for the treatment of other chronic and rare metabolic diseases. In addition, we initiated a streamlined Phase 2 trial for PXL065 in NASH and strengthened our cash position with non-dilutive funding from a milestone payment of EUR 4 million for the Imeglimin New Drug Application (NDA) submission in Japan and the recent PGE loan of EUR 6 million from the French government,” said Thomas Kuhn, CEO of Poxel.

“For the remainder of this year, we expect several upcoming milestones and events including finalization of the PXL770 Phase 2b clinical trial design, presentations for PXL770 and PXL065 at several scientific meetings as well as publishing results in peer-reviewed scientific journals and additional preclinical data related to our AMPK and deuterated-TZD platforms. Furthermore, our partner, Metavant, is in discussions with the U.S. Food and Drug Administration (FDA) regarding the Imeglimin Phase 3 program in type 2 diabetes patients with chronic kidney disease (CKD) stages 3b/4,” added Thomas Kuhn,

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