POLYDEX PHARMACEUTICALS INC - POLXF STOCK NEWS

Polydex Pharmaceuticals Limited (OTC Pink: POLXF) reported its financial results for Q3 of fiscal 2023, ending October 31, 2022. The company generated $858,089 in sales, down from $1,096,360 in the same quarter last year. Net loss was $382,930, compared to a loss of $68,676 in Q3 2021. Despite challenges in the global economy, management remains cautiously optimistic, citing potential recovery of the African Swine Fever situation and growth in new markets for powdered products. The company emphasizes ongoing cautious cash management to navigate these issues.

Polydex Pharmaceuticals Limited (OTC Pink: POLXF) announced its financial results for Q2 FY2023, ending July 31, 2022. Sales declined to $1,092,078 from $1,340,644 in Q2 FY2022. The net income recorded was (309,518), down from (33,035) year over year. Despite these challenges, the company maintains a strong balance sheet with a working capital ratio of 5.9 to 1. Management noted ongoing issues with African Swine Fever and global supply chain disruptions affecting the swine industry. However, there is renewed interest in higher-margin liquid products and growth in industrial applications of native dextran.

Polydex Pharmaceuticals Limited (POLXF) announced its Q1 fiscal 2023 results, revealing a year-over-year sales increase to $1,155,764, up from $846,893 in Q1 2021. Despite a net loss of $77,100, an improvement from last year's $195,407 loss, management expresses cautious optimism about ongoing trends. The company aims to manage cash and resources effectively to support growth and capitalize on demand for its powdered products and new markets for industrial Dextrans. Polydex continues to maintain higher inventory levels amidst supply chain challenges.

Polydex Pharmaceuticals Limited (Pink Sheets:POLXF) reported fiscal year 2022 results, showing sales of $4,229,126, a decline from $4,856,169 in 2021. The company faced net losses of ($551,627) compared to a profit of $211,702 last year. This significant downturn is attributed to COVID-19 and African Swine Fever, impacting product demand and market dynamics. Nonetheless, ongoing cash reserves and strong working capital position the company to explore new opportunities, particularly in Native Dextran and collaborations aimed at product development.

Polydex Pharmaceuticals Limited has partnered with Termanox Water Treatment Solutions to utilize its native dextran product in Termanox's patented cooling water treatment, Blueterm®, aimed at reducing chemical usage in industrial cooling systems. This collaboration targets the environmental challenge of harmful chemical discharge, offering a biodegradable and efficient alternative to chlorine-based treatments. CEO George Usher emphasized the importance of this initiative for Polydex, highlighting potential new market opportunities and a positive environmental impact.