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Second quarter (Q2) revenue rose to
General and administrative (G&A) expenses rose by 12% to
REVENUE & GROSS PROFIT
Period | Q2 2023 | Q2 2022 | % change |
Contract research fees Product sales Other revenue | 357,170 53,853 - | 199,207 60,377 - | |
Gross revenue | 411,023 | 259,584 | +58.3% |
Cost of sales | 106,168 | 78,255 | |
Gross profit Gross profit % | 304,855 | 181,329 70% | +68.1% |
OPERATING EXPENSES & NET INCOME
Period | Q2 2023 | Q2 2022 | % change |
General & administrative Sales & marketing Research & development | 232,795 7,777 26,854 (33,439) | 207,563 258 39,302 - | |
Operating expenses | 233,987 | 247,563 | -5.5% |
Interest expense | 112 (2,144) | 1,416 (4,703) | |
Net income (loss) | 72,900 | (62,507) | +216.6% |
6 MONTH FINANCIAL RESULTS TO
For the first 6 months of 2023, the improved results in Q2 were not able to eliminate the loss incurred in Q1 of the current year and the Company reports a 6-month loss of
REVENUE & GROSS PROFIT
Period | H1 2023 | H1 2022 | % change |
Contract research fees Product sales Other revenue | 539,439 127,276 - | 393,389 126,606 16,237 | |
Gross revenue | 666,715 | 536,232 | +24.3% |
Cost of sales | 194,056 | 169,253 | |
Gross profit Gross profit % | 472,659 71% | 366,709 68% | +28.9% |
OPERATING EXPENSES & NET INCOME
Period | H1 2023 | H1 2022 | % change |
General & administrative Sales & marketing Research & development | 453,176 15,399 50,805 (33,439) | 420,643 337 45,796 - | |
Operating expenses | 485,941 | 466,776 | +4.1% |
Interest expense | 557 (3,734) | 3,146 (8,419) | |
Net income (loss) | (10,105) | (94,794) | +89.3% |
The Company has applied to the
About
Director & CFO
604 220-4935
This document may contain forward-looking statements that are predictive in nature and subject to risks and uncertainties that cannot be predicted or quantified; consequently, actual results may differ materially from past results and those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such risks or uncertainties include, but are not limited to: the regulatory environment including the difficulty of predicting regulatory outcomes; changes in the value of the Canadian dollar; the Company’s reliance on a small number of customers including government organizations; fluctuations in operating results; government policies or actions; progress and cost of clinical trials; reliance on key strategic relationships; uncertainty related to intellectual property protection and potential costs associated with its defense; the Company’s exposure to lawsuits and other matters beyond the control of management. Should known or unknown risks or uncertainties materialize, or should management’s assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly make or update any forward-looking statements, except as required by applicable law.
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