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GUELPH, ONTARIO - Zentek Ltd. (NASDAQ:ZTEK)(TSX-V:ZEN), a $98 million market cap biotechnology company currently trading at $0.96, has completed initial in vivo testing of a lead candidate countermeasure for seasonal influenza (H1N1) as part of the Innovative Solutions Canada Testing Stream, according to a press release statement. According to InvestingPro data, while the company is not yet profitable, it maintains a moderate debt level with a debt-to-equity ratio of just 0.13.
The company received approximately $1.1 million through the Government of Canada’s program under Innovation, Science, and Economic Development Canada for advanced medical technologies. Testing partners include Health and Emergency Preparedness Canada and Defence Research and Development Canada.
Testing conducted at McMaster University under Dr. Matthew Miller’s supervision showed that animals given the aptamer lead candidate prophylactically demonstrated significantly improved outcomes compared to the control group. The treated animals had 5 times greater survival rates, 80% less weight loss five days post-infection, and decreased recovery times. These developments come as Zentek’s revenue reached $0.68 million in the last twelve months, with an impressive revenue growth of over 2,500% - one of several key metrics available on InvestingPro.
The aptamer countermeasure was developed using Zentek’s multi-valent aptamer strategy created by Dr. Yingfu Li’s research group at McMaster University. It was designed to recognize influenza hemagglutinin proteins with binding affinities for multiple influenza strains (H1, H5, H2, and H3) and has demonstrated neutralization against H1N1 and H5N1 in vitro.
In the first in vivo test, animals received a 150 μM prophylactic dose two hours before a lethal challenge with A(H1N1)pdm09. By day 7, 80% of control group mice reached endpoint, while only one animal in the treatment group reached endpoint, with the remaining mice fully recovering by day 9.
Researchers have now improved the formulation and administration schedule and prepared for more comprehensive testing against H1N1 and H5N1, scheduled to begin within weeks.
Zentek, through its wholly-owned subsidiary Triera Biosciences Ltd., holds an exclusive worldwide license to the aptamer-based platform technology developed by McMaster University. The stock has shown strong momentum with a 29.7% return over the past year, despite recent volatility. Want deeper insights? InvestingPro offers 7 additional investment tips and comprehensive financial analysis for Zentek.
In other recent news, Zentek Ltd. has announced updates regarding its leadership and board of directors. Greg Fenton has resigned as Chief Executive Officer to take on a new role as CEO of Altek Advanced Materials Inc., a private company in which he holds a significant equity interest. Wendy Ford, the company’s CFO, has been appointed as interim CEO while a search for a permanent replacement is underway. Additionally, Zentek has revealed that Fenton’s consulting contract will not be renewed after March 31, 2026, as the company shifts its focus from research and development to commercialization. In preparation for its upcoming annual general and special meeting, Zentek has updated its slate of director nominees, presenting four independent directors for election. Current Chair Eric Wallman and board member John Snisarenko are joined by new nominees Matt Fontes and Pete Gettinby. Meanwhile, three existing directors, Ilse Treurnicht, Lisa Sim, and Wendy Ford, will not seek re-election. These developments mark a significant period of transition for Zentek as it navigates changes in leadership and strategic direction.
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