EMMAUS LIFE SCIENCES INC - EMMA STOCK NEWS

Emmaus Life Sciences (OTC: EMMA) reported financial results for Q1 and Q2 2024. Key points:

- Net revenues for H1 2024 were $7.9 million, down 55% from $17.5 million in H1 2023 due to inventory shortages.

- Operating loss of $2.2 million in H1 2024, compared to $2.2 million income in H1 2023.

- Net loss of $6.5 million ($0.10 per share) in H1 2024, versus $5.0 million loss in H1 2023.

- Cash and equivalents of $1.5 million as of June 30, 2024.

The company doesn't expect 2024 full-year revenues to reach 2023 levels. It's working with alternative manufacturers to avoid future shortages and assessing the impact of a new generic competitor.

Emmaus Life Sciences (OTCMarkets: EMMA), a leader in sickle cell disease treatment, has appointed Willis C. Lee as its new Chief Executive Officer. Lee, previously serving as Co-President and Chief Operating Officer, will retain his position as Chairman of the Board. The company is focusing on improving operational efficiency and preparing for challenges posed by the launch of generic L-glutamine.

Lee emphasized plans to grow market presence in the Middle East and invest in research to expand pipelines and increase company value. He committed to working closely with the Board, restructured teams, and stakeholders to justify their trust in the company's future.

Emmaus Life Sciences (OTCPK: EMMA), a leader in sickle cell disease treatment, announced receiving a 'No Action Indicated' (NAI) classification following a routine FDA inspection of its Postmarketing Adverse Drug Experience (PADE) compliance program. This signifies no objectionable conditions or practices were found in the six years since Endari® has been marketed. This classification places Emmaus within the top 16% of companies inspected in 2019, highlighting their commitment to high-quality and safe medications. The inspection, conducted by two FDA Consumer Safety Officers over two and a half days, underscores Emmaus' dedication to regulatory compliance and patient safety.

Emmaus Life Sciences (OTCPK: EMMA), a biopharmaceutical company specializing in sickle cell disease treatment, released its 2023 financial results. The company reported a 61% increase in annual net revenues, reaching $29.6 million, driven by higher sales in the MENA region and the U.S. Income from operations rose to $3.5 million from a loss of $6.6 million in 2022. However, the net loss was $3.7 million, a notable improvement from the $10.6 million loss in 2022. The company faced a slowdown in Endari sales in Q4 2023 due to inventory shortages, impacting sales in Q1 and Q2 2024. Emmaus has since addressed the shortage and is working with alternative manufacturers. Operating expenses increased to $24.7 million from $22.4 million in 2022, primarily due to higher administrative and selling expenses. The company held $2.5 million in cash and cash equivalents as of December 31, 2023.

Emmaus Life Sciences, a biopharmaceutical company specializing in sickle cell disease treatment, announced a delay in filing its Annual Report for 2023 due to ongoing accounting review. The company aims to submit the Form 10-K within the next week.

Emmaus Life Sciences, Inc. (EMMA) has received marketing authorization from the Puerto Rico Department of Health for Endari® (L-glutamine oral powder), marking a significant milestone in their mission to improve the lives of people with sickle cell disease (SCD) in Puerto Rico. Endari® is the first FDA-approved oral glutamine therapy for the reduction of acute complications of SCD in adult and pediatric patients five years and older. Clinical studies have shown that Endari® can significantly reduce the frequency of pain crises, hospitalizations, and other acute complications of SCD. The approval provides access to Endari® for patients living with SCD in Puerto Rico, adding to its existing approvals in the United States, Israel, United Arab Emirates, Kuwait, Qatar, Bahrain, and Oman. Emmaus is committed to working with healthcare providers and payers in Puerto Rico to ensure accessibility of Endari® to all eligible patients, as well as raising awareness of SCD and the benefits of Endari® through educational programs for healthcare providers and patients.

Emmaus Life Sciences, Inc. (OTCQX: EMMA) reported on its financial condition and results of operations for the three and nine months ended September 30, 2023. Despite lower net revenues in the third quarter due to a shortage of finished inventory of Endari, the company generated modest net income by curtailing spending on activities unrelated to Endari sales. Net revenues for the three months and nine months ended September 30, 2023 were $5.0 million and $22.5 million, respectively, compared to $4.9 million and $12.5 million, respectively, for the same periods in 2022. The company reported a net loss of $4.9 million for the nine months ended September 30, 2023, compared to a net loss of $10.8 million for the nine months ended September 30, 2022.

Principal Inventor of Endari® (L-glutamine oral powder) and Long-time Chairman and Chief Executive Officer Free to Pursue New Projects