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Thursday, May 26, 2022

Vyant Bio, Inc. (VYNT) Stock Rises 5.53% in aftermarket: Recent Developments to know!

Vyant Bio, Inc. (VYNT) stock rose to 5.53% in the aftermarket. However, the last trading session closed at $2.35 with an incline of 0.86%.

Strategic Collaboration to Identify Compounds to Treat CDKL5 Deficiency Disorder

On 9th September 2021, VYNT announced that it has established non-exclusive strategic cooperation with Cyclica. This agreement is to seek novel therapies for CDKL5 Deficiency Condition which is a severe neurodevelopmental epilepsy disorder with no viable treatments or cure. Vyant Bio’s human-first strategy to novel pharmaceutical research uses highly functional, genetic disorder neural organoids in the early stages of the process.

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While Cyclica’s proprietary machine learning platforms combine knowledge and structure-based approaches to find novel targets, discover new uses for existing drugs, and develop innovative molecules with therapeutic potential. The tools work together to find, validate, and advance new targets as well as new and existing compounds for simplified and risk-free CDD drug discovery.

VYNT announces Second Quarter 2021 Financial Results

On 16th August 2021, VYNT reported second-quarter 2021 financial results. Firstly, the Company’s Second Quarter 2021 financial results include the post-merger performance of the merged companies. Secondly, the Second Quarter 2020 results are excluded from the study since they are based entirely on StemoniX’s previous stand-alone activities and so do not reflect the post-merger company.

As of June 30, 2021, cash and cash equivalents totaled $26.5 million.Thirdly, the total revenue was $1.9 million. Moreover, the cost of goods sold was totaled $1.0 million, or 56 percent of service revenues.

Issuance of Key Patent for High-Throughput Optical Assay of Human Mixed Cell Population Spheroids

On 13th July 2021, The United States Patent and Trademark Office awarded US Patent No. 11054408, titled “High Throughput Optical Assay of Human Mixed Cell Population Spheroids,” to its wholly-owned subsidiary StemoniX, Inc.

Moreover, the invention covers a novel method for using human-induced pluripotent stem cells. The dependability and functional consistency of human iPSC-based high-throughput systems has been lacking.

The patent also covers the utilization of 3D co-cultures of cortical neurons and astrocytes. Spontaneous activity and spheroid structure are quite constant from well to well, which is not the case in 2D cultures. Lastly, the technique allows for a more cost-effective approach of doing high-throughput drug screening (HTS).

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