Artificial Intelligence
Yield10 Bioscience Announces Second Quarter 2020 Financial Results
WOBURN, Mass., Aug. 11, 2020 (GLOBE NEWSWIRE) — Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience company, today reported financial results for the three and six months ended June 30, 2020.
“The Yield10 team has made good progress executing on our strategic plans for 2020 and beyond,” said Oliver Peoples, Ph.D., president and chief executive officer of Yield10 Bioscience. “Our field tests in the U.S. and Canada are progressing on track and will provide us with agronomic and/or performance data proof points as well as seed for larger trials planned in 2021. As part of our business plan to develop Camelina as a commercial crop platform for producing nutritional oils and PHA biomaterial, we are developing proprietary double haploid germplasm for deployment of our performance and product traits in winter and spring varieties to increase the acreage potential of the crop. In our first multi-acre planting, we contracted 50 acres in Montana of wild-type Camelina to gain experience in seed bulk-up, grower contracts, logistics and handling of harvested seed, including toll crushing, and to produce quantities of oil and protein meal for customer sampling.”
“We continue to see industry interest in our performance traits as well as the capabilities enabled by our GRAIN platform. We recently signed a non-exclusive research license with GDM for evaluation of seed yield traits in soybean, which will provide opportunities to explore additional Yield10 commercial crop performance traits with a leading seed market participant and potentially provide access to South American acreage in Argentina and Brazil. Bayer, Forage Genetics and Simplot continue to evaluate our traits under similar research licenses in soybean, forage sorghum and potato, respectively. Our internal program testing traits in corn is progressing toward the creation of hybrids for field testing. We will continue to identify collaborative opportunities with the goal of creating revenue generating partnerships and paths to commercialization of our traits in key commercial crops. We remain committed to driving the Yield10 business forward and achieving our broad-based milestones in 2020,” said Dr. Peoples.
Recent Accomplishments Towards Achieving 2020 Milestones
Generate Proof Points for Novel Traits in Camelina and Canola. Yield10 completed planting of the Company’s 2020 Field Tests to evaluate a series of traits in Camelina and canola. Key studies include the evaluation of C3004 in Camelina as well as tests of traits to boost seed yield and/or oil content in Camelina and canola. These studies, for the first time, include field testing of a novel trait to produce PHA in the seed of Camelina. The purpose of this activity is to determine the suitability of these first generation PHA Camelina lines for scale-up and PHA product prototyping in 2021. Harvest of the test fields is expected in the third quarter of 2020 and data from the studies will begin to become available in the fourth quarter of 2020 and into early 2021. Use of CRISPR Genome-Editing to Accelerate Development of Novel Performance Traits. In the second quarter, Yield10 submitted an “Am I regulated?” letter of inquiry to USDA-APHIS to confirm the use of CRIPSR genome-edited trait C3007 in canola lines developed for increased oil content does not meet the definition of a regulated article under 7 CFR Part 340 regulations. Confirmation of the status would allow field testing of the plants in the U.S. in 2021.
Advance its Camelina Business Plan. During the 2019/2020 winter season, Yield10 successfully field tested internally developed double haploid varieties of winter Camelina as part of a program to develop Camelina as a commercial crop. Yield10 also planted 50 acres of wild-type spring Camelina as a means to begin building relationships with growers, developing agronomic guidelines for successfully growing Camelina, and for producing Camelina oil and meal for sampling to potential customers.
Form Agriculture Industry Alliances. Yield10 recently signed a research agreement with Gibson City, Illinois-based GDM to evaluate novel yield traits in soybean. Working with major agricultural companies to test Yield10 traits is fundamental to Yield10’s strategy to create option value for our traits in key commercial crops. Yield10 and GDM also intend to explore additional opportunities for collaboration.
Manage its Financial Profile and Strengthen the Balance Sheet. Yield10’s financial results for the six month period ended June 30, 2020 are on track with internal estimates. Yield10 strengthened its balance sheet in the first half of 2020 based on approximately $2 million in proceeds from a combination of capital from warrant exercises and support obtained from sources in the U.S. and Canada to cover certain payroll-related expenses. Based on the outlook for spending in the second half of 2020, the Company is lowering its estimated range of total net cash usage for 2020, while maintaining a consistent level of investment in research and development to achieve the Company’s objectives.
COVID-19 Impact on Operations. The Company has implemented business continuity plans to address the COVID-19 pandemic and minimize disruptions on ongoing operations. To date, despite the pandemic, we have been able to move forward with the operational steps required to execute our 2020 field trials in Canada and the United States. It is possible, however, that any potential future closures of our research facilities, if they continued for an extended time period, could adversely impact our anticipated time frames for completing field trials and other work we have planned to accomplish during 2020. SECOND QUARTER 2020 FINANCIAL OVERVIEW
Cash Position
Yield10 Bioscience is managed with an emphasis on cash flow and deploys its financial resources in a disciplined manner to achieve its key strategic objectives.
Net cash used by operating activities during the second quarter of 2020 was $2.0 million compared to $1.8 million used in the second quarter of 2019. Yield10 ended the second quarter of 2020 with $8.5 million in unrestricted cash, cash equivalents and short-term investments. The Company is reducing its previous guidance for anticipated total net cash usage during the full year 2020 from a range of $9.0 – $9.5 million to a range of $8.5 – $9.0 million, primarily as a result of expenditure reductions resulting from the impact of the COVID-19 pandemic. We have delayed plans to hire a small number of additional staff and have significantly reduced our travel and certain other general business expenses.
The Company’s present capital resources are expected to fund its planned operations into the second quarter of 2021. Yield10’s ability to continue operations after its current cash resources are exhausted depends on its ability to obtain additional financing, including public or private equity financing, secured or unsecured debt financing, and receipt of additional government research grants, as well as licensing or other collaborative arrangements. Operating Results
Grant revenue for the second quarter of 2020 was $0.2 million, compared to $0.3 million recorded during the second quarter of 2019. Research and development expenses were consistent at $1.2 million for both the second quarter of 2020 and the second quarter of 2019. General and administrative expenses increased from $1.0 million during the second quarter of 2019 to $1.2 million during the second quarter of 2020, primarily as a result of increased employee compensation and benefits as well as legal and accounting expenses incurred related to the Company’s securities and financial statement filings.
Yield10 reported a loss from operations of $2.1 million for the quarter ended June 30, 2020 as compared to a loss from operations of $1.9 million for the same quarter of 2019. The Company reported a total net loss after income tax expense of $1.8 million, or $0.92 per share for the three months ended June 30, 2020, in comparison to a total net loss after income taxes of $1.9 million, or $5.99 per share, for the second quarter of 2019. During the three months ended June 30, 2020 the Company recognized $0.3 million in loan forgiveness income related to a Paycheck Protection Program Loan (“PPP Loan”) issued to the Company under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). Yield10 utilized the entire PPP Loan amount of $0.3 million for qualifying payroll and other expenses during the second quarter and considers it reasonably certain that it will meet all of the conditions for loan forgiveness under the CARES Act.
For the six months ending June 30, 2020, the Company reported a net operating loss after taxes of $5.4 million, or $2.95 per share compared to a net operating loss after taxes of $4.1 million, or $14.36 per share for the six months ending June 30, 2019. Year to date grant revenue earned through June 30, 2020 and June 30, 2019 was $0.4 million for both six-month periods. Research and development expenses were $2.6 million during the six months ended June 30, 2020, compared to $2.4 million for the six months ended June 30, 2019, and general and administrative expenses were $2.6 million and $2.2 million during the six months ended June 30, 2020 and June 30, 2019, respectively.
Reverse Stock Split Yield10 completed a 1-for-40 reverse stock split of its common stock on January 15, 2020, in order to regain compliance with the Nasdaq Stock Market minimum bid price qualification of $1.00 per share as required by Nasdaq Listing Rule 5550(a)(2). In accordance with applicable accounting guidance, all share amounts, per share data, share prices and conversion rates set forth in the Company’s condensed consolidated financial statements for the three and six months ending June 30, 2020 and June 30, 2019, including those presented in this earnings release, have been retroactively adjusted to reflect the reverse stock split.
Conference Call Information
Yield10 Bioscience management will host a conference call today at 4:30 p.m. (ET) to discuss the second quarter 2020 results. The Company also will provide an update on the business and answer questions from the investor community. A live webcast of the call with slides can be accessed through the Company’s website at www.yield10bio.com in the investor relations events section. To participate in the call, dial toll-free 877-709-8150 or 201-689-8354 (international).
To listen to a telephonic replay of the conference call, dial toll-free 877-660-6853 or 201-612-7415 (international) and enter pass code 13707134. The replay will be available until August 25, 2020. In addition, the webcast will be archived on the Company’s website in the investor relations events section.
About Yield10 Bioscience Yield10 Bioscience, Inc. is an agricultural bioscience company developing crop innovations to improve crop yields and enhance sustainable global food security. The Company utilizes its proprietary “GRAIN“ (Gene Ranking Artificial Intelligence Network) gene discovery platform to identify gene targets to improve yield performance and value in major commercial food and feed crops. Yield10 uses its Camelina oilseed platform to rapidly evaluate and field test new trait leads enabling the translation of promising new traits into the major commercial crops. As a path toward commercialization, Yield10 is pursuing a partnering approach with agricultural companies to drive new traits into development in crops such as canola, soybean and corn. The Company is also developing Camelina as a platform crop for producing nutritional oils and specialty products such as PHA biomaterials for use in water treatment and bioplastic applications. Yield10 is headquartered in Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon, Canada.
For more information about the company, please visit www.yield10bio.com, or follow the Company on Twitter, Facebook and LinkedIn. (YTEN-E)
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, expectations regarding Yield10’s cash position, cash forecasts and runway, ability to obtain sufficient financing to continue operating, expectations related to research and development activities, collaborations, intellectual property, the expected regulatory path for traits, reproducibility of data from field tests, the timing of completion of additional greenhouse and field test studies, the signing of research licenses and collaborations, the potential impact on operations of the COVID-19 pandemic, and value creation as well as the overall progress of Yield10 Bioscience, Inc., constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including the risks and uncertainties detailed in Yield10 Bioscience’s filings with the Securities and Exchange Commission. Yield10 Bioscience assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
Contacts: Yield10 Bioscience: Investor Relations: Media Inquiries: (FINANCIAL TABLES FOLLOW)
Lynne H. Brum, (617) 682-4693, [email protected]
Bret Shapiro, (561) 479-8566, [email protected]
Managing Director, CORE IR
Eric Fischgrund, [email protected]
FischTank PR
YIELD10 BIOSCIENCE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
UNAUDITED
(In thousands, except share and per share amounts)
Three Months Ended
Six Months Ended
June 30,
June 30,
2020
2019
2020
2019
Revenue:
Grant revenue
$
221
$
318
$
400
$
442
Total revenue
221
318
400
442
Expenses:
Research and development
1,179
1,191
2,639
2,414
General and administrative
1,179
1,025
2,566
2,211
Total expenses
2,358
2,216
5,205
4,625
Loss from operations
(2,137
)
(1,898
)
(4,805
)
(4,183
)
Other income (expense):
Change in fair value of warrants
—
—
(957
)
—
Loan forgiveness income
333
—
333
—
Other income (expense), net
15
27
48
52
Total other income (expense)
348
27
(576
)
52
Net loss from operations before income tax expense
(1,789
)
(1,871
)
(5,381
)
(4,131
)
Income tax expense
(7
)
—
(15
)
—
Net loss
$
(1,796
)
$
(1,871
)
$
(5,396
)
$
(4,131
)
Basic and diluted net loss per share
$
(0.92
)
$
(5.99
)
$
(2.95
)
$
(14.36
)
Number of shares used in per share calculations:
Basic and diluted
1,957,927
312,342
1,827,526
287,592
YIELD10 BIOSCIENCE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
UNAUDITED
(In thousands, except share and per share amounts)
June 30,
December 31,
2020
2019
Assets
Current Assets:
Cash and cash equivalents
$
3,290
$
5,417
Short-term investments
5,211
5,700
Accounts receivable
13
72
Unbilled receivables
59
20
Prepaid expenses and other current assets
417
475
Total current assets
8,990
11,684
Restricted cash
254
332
Property and equipment, net
978
1,243
Right-of-use assets
2,879
3,141
Other assets
265
318
Total assets
$
13,366
$
16,718
Liabilities, Convertible Preferred Stock and Stockholders’ (Deficit) Equity
Current Liabilities:
Accounts payable
$
150
$
279
Accrued expenses
882
1,326
Lease liabilities
430
602
Total current liabilities
1,462
2,207
Lease liabilities, net of current portion
3,400
3,619
Warrant liability
—
14,977
Other long-term liabilities
17
—
Total liabilities
4,879
20,803
Commitments and contingencies
Series B Convertible Preferred Stock ($0.01 par value per share): 0 shares and 5,750 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively
—
—
Stockholders’ Equity (Deficit):
Series A Convertible Preferred Stock ($0.01 par value per share); 0 shares and 796 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively
—
—
Common stock ($0.01 par value per share); 60,000,000 shares authorized at June 30, 2020 and December 31, 2019; 1,972,798 and 933,423 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively
20
9
Additional paid-in capital
378,924
360,926
Accumulated other comprehensive loss
(167
)
(126
)
Accumulated deficit
(370,290
)
(364,894
)
Total stockholders’ equity (deficit)
8,487
(4,085
)
Total liabilities, convertible preferred stock and stockholders’ equity (deficit)
$
13,366
$
16,718
YIELD10 BIOSCIENCE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
UNAUDITED
(In thousands)
Six Months Ended June 30,
2020
2019
Cash flows from operating activities
Net loss
$
(5,396
)
$
(4,131
)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation
91
100
Change in fair value of warrants
957
—
Loss on disposal of fixed assets
206
—
Charge for 401(k) company common stock match
66
49
Stock-based compensation
297
275
Non-cash lease expense
262
299
Deferred tax provision
27
—
Changes in operating assets and liabilities:
Accounts receivables
59
(54
)
Unbilled receivables
(39
)
(37
)
Prepaid expenses and other assets
84
(10
)
Accounts payable
(129
)
(62
)
Accrued expenses
(390
)
(102
)
Lease liabilities
(391
)
(404
)
Other liabilities
17
—
Net cash used for operating activities
(4,279
)
(4,077
)
Cash flows from investing activities
Purchase of property and equipment
(42
)
(13
)
Proceeds from sale of property and equipment
10
—
Purchase of short-term investments
(503
)
(998
)
Proceeds from the sale and maturity of short-term investments
999
2,746
Net cash provided by investing activities
464
1,735
Cash flows from financing activities
Proceeds from warrants exercised
1,658
—
Proceeds from registered direct offering, net of issuance costs
—
2,583
Taxes paid on employees’ behalf related to vesting of stock awards
—
(4
)
Net cash provided by financing activities
1,658
2,579
Effect of exchange rate changes on cash, cash equivalents and restricted cash
(48
)
(8
)
Net (decrease) increase in cash, cash equivalents and restricted cash
(2,205
)
229
Cash, cash equivalents and restricted cash at beginning of period
5,749
3,355
Cash, cash equivalents and restricted cash at end of period
$
3,544
$
3,584
Artificial Intelligence
How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024
HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.
Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence
Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.
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Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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Artificial Intelligence
CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review
CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).
The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
View original content:https://www.prnewswire.co.uk/news-releases/cluepoints-launches-medical–safety-review-msr-software-to-revolutionize-clinical-data-review-302260936.html
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