Sunshine Biopharma Inc. - SBFM STOCK NEWS

Sunshine Biopharma (NASDAQ:SBFM) announced that its Canadian subsidiary, Nora Pharma, has launched Bilastine, a generic version of Blexten®, in Canada. The drug, available in 20 mg tablets, is used for allergy symptom relief, specifically treating allergic rhinitis and urticaria (hives).

The global Bilastine market was valued at $1.3 billion in 2023 and is projected to reach $2.3 billion by 2030, with a 6.6% CAGR. This marks the company's fourth new product launch this year in the Canadian generic drugs market, which was valued at $9.7 billion in 2023 and is expected to reach $19.2 billion by 2032.

Sunshine Biopharma (NASDAQ:SBFM) has announced breakthrough research results for its K1.1 mRNA product as a treatment for human hepatocellular carcinoma (HCC), the third leading cause of cancer-related deaths worldwide. The company's mouse model studies demonstrated that K1.1 mRNA, when encapsulated in engineered lipids (K1.1/LNP), effectively reduced the growth of human HCC tumors in mice livers. The treatment showed dose-dependent anti-proliferative activity in both cultured human HCC cell lines and patient-derived HCC cells. This development is significant given that current HCC treatments only achieve a 18-21% five-year survival rate.

Sunshine Biopharma (NASDAQ:SBFM) has launched Ursodiol, a new generic prescription drug, through its Canadian subsidiary Nora Pharma. Ursodiol, a generic version of URSO DS®, is used for managing cholestatic liver diseases and gallstone treatment. The global Ursodiol market, valued at $457.9 million in 2022, is projected to reach $933.9 million by 2029, with a 10.7% CAGR. This marks the company's third product launch this year in the Canadian generic drugs market, which is estimated at $9.7 billion in 2023 and expected to grow to $19.2 billion by 2032.

Sunshine Biopharma (NASDAQ:SBFM) reported its Q3 2024 financial results, showing significant revenue growth. Q3 sales reached $8,435,178, a 42% increase from Q3 2023. Year-to-date revenues grew 54% to $25,279,291 compared to the same period in 2023. Despite revenue growth, Q3 net loss increased 84% to $(1,197,803). The company's gross profit for Q3 was $2,866,151, while general & administrative expenses rose to $3,972,504. Shareholders' equity improved by 18% to $25,039,312 compared to December 2023. The growth was attributed to new product launches and expanded marketing efforts by subsidiary Nora Pharma.

Sunshine Biopharma (NASDAQ:SBFM) has announced the launch of two new generic prescription drugs through its Canadian subsidiary, Nora Pharma Inc. The first product is Varenicline, a generic version of Champix®, used for smoking cessation. It's available in 0.5 mg and 1 mg tablets, plus a starter kit. The second is Betahistine, a generic version of Serc®, for treating vertigo, available in 8 mg, 16 mg, and 24 mg scored tablets.

These additions expand Nora Pharma's portfolio to 63 products, strengthening its position in the $9.7 billion Canadian generic drug market. Sunshine Biopharma's CEO, Dr. Steve Slilaty, expressed anticipation for more product launches in the near future, while Nora Pharma's president, Mr. Malek Chamoun, highlighted expectations for continued rapid growth.

Sunshine Biopharma (NASDAQ:SBFM) has announced the publication of significant coronavirus research results in the Journal of Medicinal Chemistry. The study, conducted in collaboration with the University of Arizona, reveals a novel antiviral compound, XR8-23 (Compound 10), targeting SARS-CoV-2 papain-like protease (PLpro) with submicromolar potency and efficacy in animal models.

Key findings include:

• XR8-23 showed significant drug accumulation in mouse lungs and favorable pharmacokinetic properties
• The compound exhibited broad-spectrum antiviral activity against multiple SARS-CoV-2 variants
• It demonstrated in vivo activity in a mouse-adapted SARS-CoV-2 infection model at 10 mg/kg by repeated IV injections

This research marks an important milestone in Sunshine Biopharma's efforts to develop an effective treatment for SARS-CoV-2 infection, particularly for high-risk and immunocompromised patients.

Sunshine Biopharma (NASDAQ:SBFM) has expanded its generic drug portfolio in Canada, launching nine new prescription drugs in 2024. This brings the company's total marketed drugs to 61. The new additions include Abiraterone, Clobetasol, Daptomycin, Dasatinib, Ertapenem, Hanzema®, Progesterone, Rivaroxaban, and Zoledronic Acid, addressing various health areas such as oncology, anti-inflammatory, antibacterial, dermatology, endocrinology, cardiovascular, and osteoporosis.

These drugs are currently sold under distribution agreements, differing from Nora Pharma's usual cross-licensing arrangements. The expansion aims to strengthen Sunshine Biopharma's presence in the $9.7 billion Canadian generic drug market and improve access to pharmacies. The company anticipates additional product launches in the near future.

Sunshine Biopharma (NASDAQ:SBFM) reported strong financial results for Q2 2024, with significant revenue growth. Key highlights include:

- Q2 revenues of $9,303,067, up 67% year-over-year
- YTD revenues of $16,844,113, up 61% year-over-year
- Q2 net loss decreased by 45% to $(494,300)
- YTD net loss decreased by 32% to $(1,778,101)
- Shareholders' Equity grew 11% to $23,489,865

The company attributes this growth to new product launches and expanded marketing efforts by its Canadian subsidiary, Nora Pharma Inc. CEO Dr. Steve Slilaty expressed confidence in achieving profitability through innovative strategies and operational optimization.

Sunshine Biopharma (NASDAQ:SBFM) has announced a 1-for-20 reverse stock split, effective August 8, 2024. This strategic move aims to regain compliance with Nasdaq's minimum bid price requirement for continued listing. The pharmaceutical company, which focuses on life-saving medicines in oncology and antivirals, is taking this step to maintain its position on the Nasdaq exchange. This decision highlights the company's commitment to meeting regulatory standards and potentially improving its market position.