- FinancialBuzz.com News Commentary
NEW YORK, Sept. 8, 2021 /PRNewswire/ -- The pandemic has helped to increase awareness of the importance of maintaining hygiene to avoid transmission of pathogens in healthcare facilities and among the general populous. According to data provided by Grand View Research, the global personal protective equipment market size was valued at USD 77.36 Billion in 2020 and is expected to grow at a CAGR of 7.3% from 2020 to 2028. Additionally, the demand for personal protective equipment (PPE) over the forecast period is also expected to continue its growth. Various countries implemented strict acts due to the Covid-19, such as the Families First Coronavirus Response Act by the U.S. for protecting public health workers, establishing free testing, providing paid leaves, and important benefits to children and families. Currently, even though most of the economy is open, many regulations in regards to use of PPEs are still in place. OPTEC International, Inc. (OTC: OPTI), Oragenics, Inc. (NASDAQ: OGEN), Novan, Inc. (NASDAQ: NOVN), Trevena, Inc. (NASDAQ: TRVN), Chembio Diagnostics, Inc. (NASDAQ: CEMI)
In addition to PPEs, technology played a major role in helping medical facilities, organizations and governments fight the pandemic. Testing, treatments and the vaccines were crucial, as more than 175 million people are now vaccinated in the U.S., but other products and services should not be dismissed. For example, the healthcare organization Providence developed data analytics tools that give real-time information on patient volume, hospital staffing levels and the supply of ventilators and PPEs throughout hospitals across Alaska, California, Montana, New Mexico, Oregon, Texas and Washington. Another example is a new app that uses artificial intelligence to coach healthcare workers through safely putting on and taking off PPEs, which could help to further reduce the spread of infectious diseases.
OPTEC International, Inc. (OTC: OPTI) announced last week breaking news regarding, "the official launch of a new group purchasing division via their newly acquired, wholly owned subsidiary, WeShield, called "WeShield Together." Since starting at the beginning of August, the group has transacted with 32 outside commodity based sales organizations and brokers who have retained WeShield as their purchasing wing to help drive down rising costs on globally stressed goods from overwhelmed supply chains in the wake of the global pandemic. The group expects to grow into other commodities in the near future.
The first two weeks of its launch netted over $2 million in sales via PPE & medical supplies. The Delta Variant's surge is driving the higher than expected sales. Optec is eyeing the Lambda and Omega variants and securing additional supply partners to keep up with the increased demand.
WeShield CEO Michael Sinensky commented, 'WeShield continues to successfully establish itself as a leader in the PPE and medical supply space. After being named the 53rd fastest growing company in the nation by Inc.5000, we have seen an increase in inquiries from commodity based sales companies and brokers to join 'WeShield Together' to help protect their purchases in light of rising fraud due to the Delta variant surge. In addition, we are collectively all saving money with our combined purchasing power, which will go straight to the bottom line.'
WeShield, a wholly owned subsidiary of OPTEC International, Inc., provides personal protective equipment (PPE) and safety supplies to hospitals, retail and hospitality brands, government agencies and other businesses and organizations. The company is powered by a proprietary AI-driven sales and marketing process, and has quickly established itself as one of the leading medtech suppliers in the industry. In Q1/Q2 of 2021, WeShield posted total revenues of $40 million with EBIDTA of $6.7 million, or 17% of revenue, and has been ranked 53rd of 5000 on the annual Inc. 5000 list. WeShield reports heavy growth in both the PPE and medical supply sectors, supplying PPE safety products to some of the largest government agencies (DLA, VA, NYCHA), hospitals and healthcare networks (Wellstar, Mt.Sinai, Planned Parenthood) retail and hospitality brands (GAP, Gucci, Hard Rock, Caesars Entertainment, and more in the U.S."
Oragenics, Inc. (NASDAQ: OGEN) reported last week that the stabilized pre-fusion spike protein trimer produced by its Canadian collaborator and licensed by the Company from the National Institutes of Health (NIH) generates neutralizing antibodies in mice after immunization against SARS-CoV-2, when administered with several novel intramuscular (IM) and intranasal (IN) adjuvants. The expression platform, developed with support from Oragenics' Canadian collaborator, will expedite the evaluation of hybrid SARS-CoV-2 antigen candidates that are scheduled to be evaluated in a hamster viral challenge study beginning with dosing at the end of this month. The mouse immunogenicity study enabled the down-selection of the four adjuvant candidates tested thus far, with two being advanced to assess inhibition of viral replication in hamsters, and IND-enabling toxicology studies. A manuscript suitable for publication, inclusive of the mouse data, will be prepared upon completion of the hamster study.
Novan, Inc. (NASDAQ: NOVN) announced back in June positive preclinical results with berdazimer sodium in a SARS-CoV-2 transmission model in golden Syrian hamsters. In light of these promising results, the Company is exploring opportunities to develop an anti-viral therapy against COVID-19, the disease caused by the SARS-CoV-2 virus, both internally and potentially through strategic partnerships for this program. "These preclinical data are encouraging and provide the basis that we were looking for to support continuing down the development path for SB019. We are exploring avenues to interact with the FDA to expedite or streamline a development program for a potential intranasal treatment option for COVID-19," commented Paula Brown Stafford, President and Chief Executive Officer.
Trevena, Inc. (NASDAQ: TRVN) announced on July 16th that the first COVID-19 patient has been enrolled in the NIH-funded ACTIV-4 Host Tissue (Accelerating COVID-19 Therapeutic Interventions and Vaccines) trial. "There is no one solution to end COVID-19, and we are honored to play a role in the global effort to overcome this pandemic and mitigate its long-term impact on our communities," said Carrie Bourdow, President and CEO of Trevena. "I am excited that patients are now being enrolled in this study and that TRV027 is the one of the first active treatment arms available for patient randomization." The trial, known as ACTIV-4 Host Tissue, is testing four investigational agents that combat dysregulation of the renin-angiotensin-aldosterone system (RAAS) and the immune system caused by a COVID-19 infection. TRV027 is a novel AT1 receptor selective agonist that specifically binds to and rebalances AT1 receptor activation within the RAAS, blocking the damaging pathway that leads to acute lung damage and abnormal blood clotting, while activating the cellular pathway that selectively targets reparative actions that improve lung function and promote anti-inflammatory effects.
Chembio Diagnostics, Inc. (NASDAQ: CEMI) reported last month its launch of commercial distribution of an FDA Emergency Use Authorized, patent pending, rapid point-of-care COVID-19 antigen test for use in decentralized and traditional testing settings. Product inventory is on-hand and immediately available for shipment to Chembio customers across the United States. The SCoV-2 Ag Detect Rapid Test, manufactured by InBios International, Inc., is a rapid immunoassay test authorized for use in laboratories with a CLIA waiver certification. It provides results in 20 minutes from a nasal swab and requires no instrumentation. The test can be used for both patients who are suspected of COVID-19 by their healthcare provider within 5 days of symptom onset and for asymptomatic serial testing. "We are excited about the addition of this differentiated product to our menu of COVID-19 assays," said Charles Caso, Vice President of Sales and Marketing for Chembio. "We are now offering U.S. customers SCoV-2 Ag Detect, a test for COVID-19 antigens in both symptomatic and asymptomatic populations, as well as Status COVID-19/Flu A&B, a product that differentiates flu from COVID-19 using a single nasal swab sample. Our expanded commercial team can now offer testing solutions for CLIA waived settings and work and school settings."
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