FREMONT, CA, July 06, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – ABVC Biopharma, Inc. (NASDAQ: ABVC), a clinical stage biopharmaceutical company developing therapeutic solutions in oncology/hematology, CNS, and ophthalmology, today announced that the Zacks Small-Cap Research report dated June 7, 2022 values ABVC at $9.50 per share based upon a financial projection and a series of assumptions in the update.
Further, the report states, “We are optimistic about the chances of ABV-1505 and Vitargus receiving FDA approval and of the subsequent commercial demand of these treatment therapies. If and when ABVC’s assets are commercialized, we estimate rapid growth for both commencing in approximately 2023 – 2024. While it is difficult to know the revenue arc for ABVC at this stage, given the large need that both Vitargus and ABV- 1505 address and the current cost of standard care, as well as the growing incidence of adult ADHD and vitreo-retinal procedures, we believe ABVC could attain product revenue of $3.2 million in 2023 and $14.5 million to $16 million in 2024.”
ABVC is currently conducting a Phase II clinical study that is expected to demonstrate the safety and effectiveness of Vitargus® when compared to the commonly used SF6 Gas OE. Earlier clinical studies have demonstrated that Vitargus has unique properties that eliminate the need for post-surgery patient face-down positioning, as well as providing significantly greater patient comfort and visual acuity during the surgical recovery period than products currently available on the market.
ABV-1505 has successfully completed Phase II Part 1 clinical study for treating ADHD. The Phase II Part 2 study is a randomized, double-blind, placebo-controlled study that includes a total of approximately 100 patients in the United States and Taiwan. This resumes the Phase II Part 1 study of ABV-1505, successfully completed at the University of California, San Francisco, and accepted by the U.S. Food & Drug Administration in October 2020.
The full Zacks update report is available at:
https://s27.q4cdn.com/906368049/files/News/2022/Zacks_SCR_Research_06072022_ABVC_Marin.pdf
Note: We are under no duty to update the information provided by Zacks and in no way guarantee any of the predictions or outcomes presented in their report.
About ABVC BioPharma
ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus®) under development. For its drug products, it is focused on utilizing its licensed technology to conduct proof-of-concept trials through Phase II of the clinical development process at world-famous research institutions (such as Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center). For Vitargus®, the company intends to conduct the clinical trials through Phase III at various locations throughout the globe.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Contact:
ICR, LLC
Lucy Peng
Phone: +1 646-677-1872
Email: Lucy.Peng@icrinc.com
