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Edesa Biotech (Nasdaq: ESDA) reported fiscal Q3 2024 results and provided a business update. Key highlights include:
- EB05 (paridiprubart) selected for U.S. government-funded ARDS study
- Plans to advance vitiligo and pulmonary fibrosis programs
- Q3 net loss of $1.7 million ($0.52 per share) vs $2.0 million ($0.68 per share) in Q3 2023
- 9-month net loss of $5.2 million ($1.64 per share) vs $6.7 million ($2.37 per share) in 2023
- Cash and equivalents of $2.0 million as of June 30, 2024
- $0.3 million received in government funding post-quarter end
- Unused $10.0 million revolving credit agreement available
Management views the government ARDS study as a potential value-creation opportunity and plans to focus on advancing other pipeline programs.
