JanOne (JAN) Makes a Case For its Lead Product to Combat Covid 19
Tiny float stock with a big book value
Good day everyone,
We are initiating coverage on JanOne Inc. (NASDAQ: JAN), a company focused on bringing medications to market to treat diseases that cause severe pain.
Current price $4.40 per share
Outstanding shares (est.) 1.99M
Float (est.) 1.35M
Insider ownership 52.97%
Book value (mrq) $8.71 per share
Market cap $7.7M
JAN shares gained 35% Thursday on news it has entered into an agreement with CATO SMS, a regulatory and clinical contract research organization. CATO SMS will assist JanOne in expanding its current FDA authorized Investigational New Drug (IND) for JAN101, an oral, sustained release formulation of sodium nitrite, to treat vascular complications to potentially restore endothelial cell function in COVID-19 patients. Trading volume of 2.3M shares exceeded the company share count.
In addition, JAN101 is expected to enter Phase 2b trials in early 2021 to treat Peripheral Artery Disease (PAD).
It is rare to see a pharma company that is developing a potential treatment for covid 19 with a market cap less than $10M. JAN is working toward a world free from opiates on two fronts, developing drugs to treat ailments that cause pain, and developing an opiate free pain medication.
JAN acquired the worldwide right to TV1001SR, a twice-daily orally dosed slow-release formulation of the FDA-approved therapeutic sodium nitrite
The company renamed the product JAN101 and it is their lead product. Results from Phase 2a clinical trials support the use of sodium nitrite for the treatment and prevention of Peripheral Artery Disease (PAD), and as a non-addictive treatment for Diabetic Neuropathy.
Peripheral Artery Disease (PAD) is a chronic disorder associated with reduced blood flow to the extremities. PAD often causes severe pain in the extremities, limits mobility, and in some cases may lead to death. In the US alone, PAD affects nearly 12 million people, and if left untreated will lead to Critical Limb Ischemia with an annual cost of care estimated at $10 billion. 1 in every 20 adults over the age of 50 years, and 1 in every 4 adults over the age of 70 years are likely to develop PAD.
The case for JAN101 in the treatment of Covid 19:
A recent study published in the New England Journal of Medicine3 indicates the possibility that the respiratory complications from COVID-19 may originate from restrictions and damage to the vascular system and endothelial cell dysfunction. The implication is that the endothelial cells that line the blood vessels are severely compromised and limit the body’s ability to carry oxygen to major organs in the body, including the lungs. Previous JAN101 clinical studies have shown promise in repairing and restoring vascular function with minimal adverse events, which may potentially prove to be beneficial to COVID-19 patients.
“If COVID-19 is, in fact, a vascular disease that attacks endothelial cells restricting the ability of cells to deliver oxygen to vital organs, our sodium nitrite tablets could potentially offer a safe and effective treatment for that aspect of the disease,” said Tony Giordano, PhD, JanOne’s chief scientific officer.
Potential catalysts and positives for JAN:
Protocols established for the 2B clinical trial for PAD
Further studies on the potential for JAN101 to impact Covid 19.
There are only 1.35M shares in the float making a significant gain a greater possibility.
The book value is much higher than the share price.
Insiders own 52.97% of the shares and have a vested interest in the company’s success.
JAN had revenue (ttm) of $37M.
JanOne has moved quickly to exploit JAN101 by adding scientific stall and creating a scientific advisory board. JAN is a company with a tiny ($7.7M) market cap that may not stay at that level long. As investor awareness of the company grows, so could its market cap.
Note in the chart linked below that JAN shares have crossed their 50 DMA and 200 DMA of $3.40 and $3.05 respectively in a bullish manner. https://stockcharts.com/h-sc/ui?s=JAN
More on JanOne coming soon…
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