- Company now focused on activities leading to faster commercial status
''Our main priorities for fiscal 2025 remains securing the required capital to fund our operations and delivering on the anticipated corporate milestones. We believe our two latest programs, burn healing and skin repair will play a key role in facilitating the achievement of these objectives", said
Commenting on the first quarter 2025 results,
First Quarter 2025 Financial and Corporate Highlights
- During Q1-25, the Company generated a
$0.2 million loss compared to a profit of$0.1 million for Q1-24. - EBITDA for Q1-25 was positive at
$14,000 compared to an EBITDA loss of$1.05 million in Q1-24. - Cash Used for Operating Activities was
$0.1 million for Q1-25 compared to$0.2 million for Q1-24. - In
March 2024 , the Company received a grant of$53,000 to support its development program; - In
March 2024 the Company secured a$75,000 unsecured note from a shareholder, bearing interest at 15% per annum and repayable onMarch 6, 2026 ; and - In
February 2024 , the Company announced the resignation of Mr.Philippe Deschamps from his CEO and Board of Directors' position with Mr.Pierre Laurin , who served as Chairman of the Board of Directors, stepping as interim CEO. - SUBSEQUENT EVENTS
- On
June 28, 2024 , the Corporation granted an aggregate of 1,330,252 DSUs and 2,664,498 to Directors and Officers of the Company, in lieu of cash remuneration.
Other formulations are being developed to leverage the technology's performance characteristics such as tissue adhesion, pliability, and ability to deliver biologics or therapeutics to various tissues damaged by trauma or disease. Further information about
This news release may contain certain forward-looking statements regarding the Company's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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