TORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Arch Biopartners Inc., (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF), announced today that the University Health Network (UHN) Research Ethics Board has granted approval for Toronto General Hospital to participate in the Company’s ongoing Phase II trial evaluating LSALT peptide for the prevention and treatment of cardiac surgery-associated acute kidney injury (CS-AKI). With this ethics approval in place and all training and preparations complete, ...

Core Points - Arch Biopartners Inc. has closed a non-brokered private placement offering of 145,000 common shares at CAD $1.55 and 90,000 common shares at USD $1.15, totaling gross proceeds of CAD $374,000 [1][2] - The final amount of the offering increased by CAD $24,000 from the initial disclosure on March 5, 2025, and the proceeds will be used for general working capital and research expenses [2] - All common shares issued will be subject to a hold period of four months and one day from the closing date, with finders' fees totaling CAD $5,425 to be paid [3] Company Overview - Arch Biopartners Inc. is focused on preventing acute kidney injury and organ damage caused by inflammation, developing novel drugs targeting the dipeptidase-1 (DPEP1) inflammation pathway [4] - The company's lead drug candidates, LSALT peptide and cilastatin, aim to address significant unmet medical needs related to kidney injury caused by inflammation or toxins [4] - The company has 65,856,366 common shares outstanding [5]

Core Points - Arch Biopartners Inc. announced a non-brokered private placement offering of 225,806 common shares at a price of $1.55 per share, aiming for gross proceeds of $350,000 CAD [1][2] - The proceeds will be utilized for general working capital and expenses not covered by existing funding grants, with the offering set to close on March 6, 2025, pending regulatory approvals [2][3] - All shares issued will have a hold period of four months and one day from the closing date, with finders' fees totaling $13,500 to be paid [3] Company Overview - Arch Biopartners Inc. is focused on late-stage clinical trials aimed at preventing acute kidney injury and organ damage due to inflammation [4] - The company is developing novel drugs targeting the dipeptidase-1 (DPEP1) inflammation pathway, with lead candidates LSALT peptide and cilastatin addressing significant unmet medical needs related to kidney injury [4] - The company has 65,621,366 common shares outstanding [5]

TORONTO, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Arch Biopartners Inc., (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF), announced today that the clinical team leading the upcoming investigator-led trial, titled “Prevention Of NephroToxin Induced Acute Kidney Injury with Cilastatin” (PONTiAK), has received a No Objection Letter (NOL) from Health Canada to proceed with the trial. PONTiAK is a 700-patient Phase II trial (revised from 900 patients) evaluating the efficacy of cilastatin in preventing A ...

Core Points - Arch Biopartners Inc. has arranged a shares for debt transaction to settle $57,246.57 in interest on a deferred convertible note as of February 1, 2025 [1][2] - The transaction involves issuing 31,112 common shares at a deemed price of $1.84, pending approval from the TSX Venture Exchange [2][3] - The total notional value of the note is $500,000 CAD, which will convert into 561,798 common shares at maturity [3] Company Overview - Arch Biopartners Inc. is focused on preventing acute kidney injury and organ damage caused by inflammation, developing drugs targeting the dipeptidase-1 (DPEP1) inflammation pathway [4] - The lead drug candidates include LSALT peptide and cilastatin, aimed at addressing significant unmet medical needs related to kidney injury [4] - The company has 64,940,956 common shares outstanding [5]

Company Overview - Arch Resources, Inc. is a leading producer of high-quality metallurgical products for the global steel industry, operating modern and efficient mines that set industry standards for safety and environmental stewardship [2] - CONSOL Energy Inc. is based in Canonsburg, Pennsylvania, and specializes in the production and export of high-Btu bituminous thermal coal and metallurgical coal, with significant operations in the Northern Appalachian Basin [3] - CONSOL's Pennsylvania Mining Complex has a production capacity of approximately 28.5 million tons of coal per year, and the company controls around 1.3 billion tons of coal reserves across major coal-producing basins in the eastern United States [3] Merger Announcement - Arch Resources and CONSOL Energy announced that stockholders of both companies approved all proposals related to their pending combination, which is expected to close on January 14, 2025 [1] - The combined entity will be renamed "Core Natural Resources, Inc." and will be headquartered in Canonsburg, Pennsylvania, with its common stock trading under the ticker symbol "CNR" starting January 15, 2025 [1]

TORONTO, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Arch Biopartners Inc., (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF), announced today that the University Health Network Research Ethics Board, through the Clinical Trials Ontario Streamlined Research Ethics Review System, has granted provincial ethics approval for the Phase II trial for LSALT peptide targeting the prevention and treatment of cardiac surgery-associated acute kidney injury (CS-AKI). The clinical teams at Toronto General Hospital and ...

NEW YORK, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating potential claims related to the below-listed proposed mergers. Kuehn Law may seek additional disclosures or other relief on behalf of the shareholders of these companies. Kuehn Law is investigating whether the Boards of the below companies 1) acted to maximize shareholder value, 2) failed to disclose material information, and 3) conducted a fair process: Universal Stainless & Alloy Products, Inc. ...

Core Viewpoint - Arch Resources reported a net loss of $6.2 million and an adjusted profit of $44.2 million for Q3 2024, indicating a year-over-year decline in revenues and profits [1]. Financial Performance - The company experienced a net loss of $6.2 million in Q3 2024 [1]. - Adjusted profits for the same period were reported at $44.2 million [1]. Company Overview - Arch Resources is recognized as one of the major coal miners in the United States, producing both thermal and metallurgical coal [1].

Revenue and Sales Performance - For the three months ended September 30, 2024, coal sales revenue was approximately $617.9 million, a decrease of $126.7 million or 17.0% compared to the same period in 2023[115]. - Tons sold during the same period decreased by approximately 3.0 million tons, or 15.5%, totaling 16,214 tons[115]. - Revenues from coal sales in the first nine months of 2024 were $1,906,840 thousand, down $464,986 thousand, or 19.6%, from $2,371,826 thousand in the same period of 2023[124]. - Total GAAP revenues for the consolidated company were $617.90 million for the three months ended September 30, 2024, compared to $744.60 million in the same period of 2023[144]. - The company reported total GAAP revenues of $1.91 billion for the nine months ended September 30, 2024, compared to $2.37 billion in the same period of 2023[146]. Coal Market Conditions - Metallurgical coal sales decreased by approximately $70.9 million primarily due to decreased pricing[115]. - Thermal coal sales decreased by approximately $55.8 million due to reduced sales volume to domestic utility customers[115]. - Domestic thermal coal consumption was pressured by low power demand, low natural gas prices, and increased renewable generation, leading to elevated utility coal stockpiles[113]. - The global metallurgical coal market is experiencing softness due to oversupply and economic constraints, particularly in Europe and the Americas[106]. - The availability of discounted Russian coal in Asian markets is expected to continue, impacting competition in the coal market[107]. Costs and Expenses - Cost of sales for Q3 2024 decreased by approximately $38.3 million, or 6.4%, compared to Q3 2023, primarily due to reduced sales sensitive costs and lower repairs and supplies costs[117]. - Total costs, expenses, and other for the first nine months of 2024 were $1,849,265 thousand, a decrease of $112,693 thousand compared to the same period in 2023[126]. - Selling, general, and administrative expenses decreased by approximately $4.4 million in the first nine months of 2024 compared to the same period in 2023, mainly due to reduced compensation costs[129]. - The company recorded $6.6 million in severance costs related to a voluntary separation plan accepted by approximately 140 employees in the Thermal Segment during Q3 2024[121]. - Non-service related pension and postretirement benefit credits decreased by $4,596 thousand in the first nine months of 2024 compared to the same period in 2023[133]. Merger and Financial Transactions - The proposed merger with CONSOL Energy Inc. involves an all-stock transaction where each share of Arch common stock will convert into 1.326 shares of CONSOL common stock[105]. - Merger-related costs of $7,002 thousand were recorded in Q3 2024 following the Merger Agreement entered on August 20, 2024[120]. - The total long-term debt increased by $20 million under the Term Loan during the first three months of 2024, with no other material changes to contractual obligations reported[165]. Cash Flow and Liquidity - Cash provided by operating activities decreased by approximately $241.5 million to $212.4 million for the nine months ended September 30, 2024, compared to $453.8 million in the prior year[167]. - Cash used in investing activities increased by approximately $15.2 million, primarily due to increased capital expenditures and net short-term investment activity[168]. - Cash used in financing activities declined by $241.4 million, driven by a reduction in dividends paid by approximately $114.8 million and a decrease in share repurchases of $91.2 million[169]. - The company ended the first nine months of 2024 with cash, cash equivalents, and short-term investments of $255.9 million, and total liquidity of $359.8 million[159]. - The company expects to maintain minimum liquidity levels of approximately $250 million to $300 million, primarily held in cash[159]. Production and Sales Commitments - Planned production levels at thermal operations are aligned with existing sales commitments, with a focus on maximizing export opportunities[114]. - The Company has metallurgical coal sales commitments for 2024, including 1.5 million tons of North America priced coking coal at $157.04 per ton and 5.2 million tons of seaborne priced coking coal at $140.68 per ton[173]. Segment Performance - Adjusted EBITDA for the Metallurgical segment decreased to $54.17 million for the three months ended September 30, 2024, down from $128.32 million in the same period of 2023, a decline of $74.16 million[137]. - Adjusted EBITDA for the Thermal segment decreased for the three months ended September 30, 2024, due to decreased tons sold and increased cash cost per ton sold[141]. - For the nine months ended September 30, 2024, the Metallurgical segment sold 6.77 million tons, down from 6.96 million tons in the same period of 2023, a decrease of 196,000 tons[138]. - The total tons sold for the nine months ended September 30, 2024, were 6,766 for metallurgical coal and 37,662 for thermal coal, compared to 6,962 and 50,104 respectively in the same period of 2023, indicating a decline in thermal coal sales[152][153]. Taxation - The effective tax rate for Q3 2024 was 50.8%, significantly higher than the U.S. federal statutory rate of 21%, primarily due to the income tax benefit for excess percentage depletion[123]. - The company experienced a net loss of $887 thousand from the provision for income taxes in the first nine months of 2024, a decrease of $67,726 thousand compared to a benefit of $66,839 thousand in 2023[134].