Sunshine Biopharma Reports 2024 Second Quarter Results: Second QTR Revenues up 67%, YTD Revenues up 61%
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) ha riportato risultati finanziari solidi per il secondo trimestre del 2024, con una crescita significativa dei ricavi. I punti salienti includono:
- Ricavi del secondo trimestre di $9.303.067, aumentati del 67% rispetto all'anno precedente
- Ricavi da inizio anno di $16.844.113, aumentati del 61% rispetto all'anno precedente
- La perdita netta del secondo trimestre è diminuita del 45% a $(494.300)
- La perdita netta da inizio anno è diminuita del 32% a $(1.778.101)
- Il patrimonio netto degli azionisti è cresciuto dell'11% a $23.489.865
L'azienda attribuisce questa crescita al lancio di nuovi prodotti e agli sforzi di marketing ampliati dalla sua filiale canadese, Nora Pharma Inc. Il CEO Dr. Steve Slilaty ha espresso fiducia nel raggiungimento della redditività attraverso strategie innovative e ottimizzazione operativa.
Sunshine Biopharma (NASDAQ:SBFM) reportó sólidos resultados financieros para el segundo trimestre de 2024, con un crecimiento significativo en los ingresos. Los aspectos destacados incluyen:
- Ingresos del segundo trimestre de $9.303.067, un aumento del 67% en comparación con el año anterior
- Ingresos acumulados hasta la fecha de $16.844.113, un aumento del 61% en comparación con el año anterior
- La pérdida neta del segundo trimestre disminuyó un 45% a $(494.300)
- La pérdida neta acumulada hasta la fecha disminuyó un 32% a $(1.778.101)
- El patrimonio neto de los accionistas creció un 11% a $23.489.865
La empresa atribuye este crecimiento al lanzamiento de nuevos productos y a los esfuerzos de marketing ampliados de su filial canadiense, Nora Pharma Inc. El CEO Dr. Steve Slilaty expresó confianza en lograr la rentabilidad a través de estrategias innovadoras y optimización operativa.
썬샤인 바이오파마 (NASDAQ:SBFM)는 2024년 2분기에 강력한 재무 실적을 보고하며, 수익이 크게 성장했습니다. 주요 내용은 다음과 같습니다:
- 2분기 수익 $9,303,067, 전년 대비 67% 증가
- 연간 누적 수익 $16,844,113, 전년 대비 61% 증가
- 2분기 순손실이 45% 감소하여 $(494,300)로 감소
- 연간 누적 순손실이 32% 감소하여 $(1,778,101)로 감소
- 주주 자본이 11% 증가하여 $23,489,865에 도달
회사는 이 성장을 새로운 제품 출시와 캐나다 자회사인 노라 파마(Nora Pharma Inc.)의 마케팅 노력 확대에 기인하고 있습니다. CEO 스티브 슬릴라티 박사는 혁신적인 전략과 운영 최적화를 통해 수익성을 달성할 것이라는 자신감을 표명했습니다.
Sunshine Biopharma (NASDAQ:SBFM) a annoncé de solides résultats financiers pour le deuxième trimestre 2024, avec une croissance significative des revenus. Les points clés comprennent :
- Revenus du Q2 de $9.303.067, en hausse de 67 % par rapport à l'année précédente
- Revenus depuis le début de l'année de $16.844.113, en hausse de 61 % par rapport à l'année précédente
- La perte nette du Q2 a diminué de 45 % pour atteindre $(494.300)
- La perte nette depuis le début de l'année a diminué de 32 % pour atteindre $(1.778.101)
- Les capitaux propres des actionnaires ont augmenté de 11 % pour atteindre $23.489.865
L'entreprise attribue cette croissance aux lancements de nouveaux produits et aux efforts de marketing élargis de sa filiale canadienne, Nora Pharma Inc. Le PDG Dr. Steve Slilaty a exprimé sa confiance dans l'atteinte de la rentabilité grâce à des stratégies innovantes et à l'optimisation opérationnelle.
Sunshine Biopharma (NASDAQ:SBFM) hat starke finanzielle Ergebnisse für das zweite Quartal 2024 gemeldet, mit signifikantem Umsatzwachstum. Die wichtigsten Punkte sind:
- Umsätze im Q2 von $9.303.067, ein Anstieg von 67% im Jahresvergleich
- Umsatz von Januar bis jetzt $16.844.113, ein Anstieg von 61% im Jahresvergleich
- Der Nettoverlust im Q2 sank um 45% auf $(494.300)
- Der Nettoverlust von Januar bis jetzt sank um 32% auf $(1.778.101)
- Das Eigenkapital der Aktionäre wuchs um 11% auf $23.489.865
Das Unternehmen führt dieses Wachstum auf die Einführung neuer Produkte und erweiterte Marketinganstrengungen seiner kanadischen Tochtergesellschaft, Nora Pharma Inc., zurück. CEO Dr. Steve Slilaty äußerte Zuversicht, dass durch innovative Strategien und operative Optimierung die Rentabilität erzielt werden kann.
- Q2 revenues increased by 67% year-over-year to $9,303,067
- YTD revenues grew by 61% to $16,844,113
- Q2 net loss decreased by 45% to $(494,300)
- YTD net loss reduced by 32% to $(1,778,101)
- Shareholders' Equity increased by 11% to $23,489,865
- 23% sequential increase in Q2 sales compared to Q1
- Company still operating at a net loss of $(494,300) in Q2 2024
- General & Administrative Expenses increased to $3,624,533 in Q2 2024 from $2,966,635 in Q2 2023
Insights
Sunshine Biopharma's Q2 2024 results show promising growth, with a 67% YoY revenue increase to
The
Sunshine Biopharma's performance reflects a strong market position in the pharmaceutical sector. The substantial revenue growth, particularly in new product launches, indicates effective market penetration strategies. The company's focus on life-saving medicines in oncology and antivirals aligns with high-demand areas in healthcare.
However, the increase in General & Administrative expenses by
FORT LAUDERDALE, FL / ACCESSWIRE / August 19, 2024 / Sunshine Biopharma, Inc. (NASDAQ:SBFM) (the "Company"), a pharmaceutical company offering and researching life-saving medicines in a variety of therapeutic areas including oncology and antivirals today announced that it has filed its 2024 second quarter report with the Securities and Exchange Commission. The Company reported gross revenues of
The following are highlights of the Company's 2024 second quarter results:
Sales in the second quarter grew to
$9,303,067 , compared to$5,560,865 during the same period last year, an increase of67% .The Company's second quarter sales of
$9,303,067 represent a23% sequential increase over first quarter sales of$7,541,046. Net loss for the three months ended June 30, 2024, was
$(494,300) compared to a net loss of$(902,108) during the same period of 2023, a decrease of45% .
The following are highlights of the Company's 2024 year-to-date (YTD) results:
In terms of YTD results, sales grew to
$16,844,113 , compared to$10,454,918 during the same period last year, an increase of61% .Net loss for the six months ended June 30, 2024, was
$(1,778,101) compared to a net loss of$(2,604,538) during the same period of 2023, a decrease of32% .Shareholders' Equity grew to
$23,489,865 , an11% increase over Shareholders' Equity at December 31, 2023.
"We are steadily advancing and working tirelessly to achieve our goal of profitability," said Dr. Steve Slilaty, CEO of Sunshine Biopharma. "Our team is dedicated to implementing innovative strategies and optimizing our operations to ensure sustainable growth. We remain committed to delivering value to our stakeholders and are confident that our efforts will lead us to success."
The following are key metrics contained in the Company's Statement of Operations for the three- and six-month periods ended June 30, 2024:
|
| 2024Q2 |
|
|
| 2023Q2 |
|
| 2024YTD |
|
| 2023YTD |
| |||
Sales |
| $ | 9,303,067 |
|
| $ | 5,560,865 |
|
| $ | 16,844,113 |
|
| $ | 10,454,918 |
|
Gross Profit |
| $ | 2,356,257 |
|
| $ | 1,952,747 |
|
| $ | 4,710,594 |
|
| $ | 3,780,869 |
|
General & Administrative Expenses |
| $ | 3,624,533 |
|
| $ | 2,966,635 |
|
| $ | 7,378,640 |
|
| $ | 6,660,398 |
|
Net Loss |
| $ | (494,300 | ) |
| $ | (902,108 | ) |
| $ | (1,778,101 | ) |
| $ | (2,604,538 | ) |
About Sunshine Biopharma, Inc.
Sunshine Biopharma currently has 61 generic prescription drugs on the market in Canada and 32 additional drugs scheduled to be launched in the remainder of 2024 and in 2025. Among the new drugs to be launched in 2024 is NIOPEG®, a biosimilar of NEULASTA®. Like NEULASTA®, NIOPEG® is a long-acting form of recombinant human granulocyte colony-stimulating factor (filgrastim). It is indicated to decrease the incidence of infection in patients with non-myeloid malignancies receiving anti-neoplastic therapy.
In addition, Sunshine Biopharma is conducting a proprietary drug development program which is comprised of (i) K1.1 mRNA, an mRNA-Lipid Nanoparticle targeted for liver cancer, and (ii) PLpro protease inhibitor, a small molecule for treatment of SARS Coronavirus infections. For more information, please visit: www.sunshinebiopharma.com.
Safe Harbor Forward-Looking Statements
This press release contains forward-looking statements which are based on current expectations, forecasts, and assumptions of Sunshine Biopharma, Inc. (the "Company") that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. These statements appear in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, including statements related to the Company's drug development activities, financial performance, and future growth. These risks and uncertainties are further described in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in the Company's filings with the SEC. Reference is hereby made to cautionary statements and risk factors set forth in the Company's most recent SEC filings.
For Additional Information:
Sunshine Biopharma Contact:
Camille Sebaaly, CFO
Direct Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
SOURCE: Sunshine Biopharma, Inc.
View the original press release on accesswire.com
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