Sunshine Biopharma Reports 2024 Third Quarter Results: Year-To-Date Revenues Up 54%
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) ha riportato i risultati finanziari per il terzo trimestre del 2024, evidenziando un significativo aumento dei ricavi. Le vendite nel terzo trimestre hanno raggiunto $8,435,178, con un incremento del 42% rispetto al terzo trimestre del 2023. I ricavi dall'inizio dell'anno sono cresciuti del 54%, arrivando a $25,279,291 rispetto allo stesso periodo del 2023. Nonostante la crescita dei ricavi, la perdita netta del terzo trimestre è aumentata dell'84% a $(1,197,803). Il profitto lordo dell'azienda per il terzo trimestre è stato di $2,866,151, mentre le spese generali e amministrative sono salite a $3,972,504. Il patrimonio netto degli azionisti è migliorato del 18%, raggiungendo $25,039,312 rispetto a dicembre 2023. La crescita è stata attribuita ai nuovi lanci di prodotto e agli sforzi di marketing ampliati dalla filiale Nora Pharma.
Sunshine Biopharma (NASDAQ:SBFM) informó sus resultados financieros del tercer trimestre de 2024, mostrando un crecimiento significativo en los ingresos. Las ventas del tercer trimestre alcanzaron $8,435,178, un aumento del 42% en comparación con el tercer trimestre de 2023. Los ingresos acumulados hasta la fecha crecieron un 54%, sumando $25,279,291 en comparación con el mismo período de 2023. A pesar del crecimiento de los ingresos, la pérdida neta del tercer trimestre aumentó un 84% a $(1,197,803). La ganancia bruta de la empresa para el tercer trimestre fue de $2,866,151, mientras que los gastos generales y administrativos se elevaron a $3,972,504. El patrimonio neto de los accionistas mejoró en un 18% hasta $25,039,312 en comparación con diciembre de 2023. Este crecimiento se atribuyó al lanzamiento de nuevos productos y a los esfuerzos de marketing ampliados por la filial Nora Pharma.
Sunshine Biopharma (NASDAQ:SBFM)는 2024년 3분기 재무 결과를 발표하며 눈에 띄는 수익 성장을 보여주었습니다. 3분기 판매는 $8,435,178에 달하며, 이는 2023년 3분기 대비 42% 증가한 수치입니다. 2023년 같은 기간과 비교해 올 초부터 지금까지의 수익은 54% 증가한 $25,279,291에 도달했습니다. 수익 성과에도 불구하고, 3분기 순손실은 84% 증가하여 $(1,197,803)로 나타났습니다. 3분기 동안 회사의 총 수익은 $2,866,151였고, 일반 및 관리 비용은 $3,972,504로 상승했습니다. 주주 자본은 2023년 12월 대비 18% 개선되어 $25,039,312에 이르렀습니다. 이러한 성장세는 새로운 제품 출시와 자회사인 Nora Pharma에 의한 마케팅 노력 확대에 기인했습니다.
Sunshine Biopharma (NASDAQ:SBFM) a publié ses résultats financiers pour le troisième trimestre 2024, montrant une croissance significative des revenus. Les ventes du troisième trimestre ont atteint $8,435,178, soit une augmentation de 42 % par rapport au troisième trimestre 2023. Les revenus depuis le début de l'année ont crû de 54 %, atteignant $25,279,291 par rapport à la même période en 2023. Malgré la hausse des revenus, la perte nette du troisième trimestre a augmenté de 84 %, s'établissant à $(1,197,803). Le bénéfice brut de l'entreprise pour le troisième trimestre était de $2,866,151, tandis que les dépenses générales et administratives ont grimpé à $3,972,504. Les capitaux propres des actionnaires ont augmenté de 18 %, atteignant $25,039,312 par rapport à décembre 2023. Cette croissance a été attribuée au lancement de nouveaux produits et aux efforts de marketing étendus par la filiale Nora Pharma.
Sunshine Biopharma (NASDAQ:SBFM) berichtete über die finanziellen Ergebnisse des dritten Quartals 2024, die ein signifikantes Umsatzwachstum aufzeigten. Die Verkaufszahlen im dritten Quartal erreichten $8,435,178, ein Anstieg von 42% im Vergleich zum dritten Quartal 2023. Die Umsätze im bisherigen Jahr stiegen um 54% auf $25,279,291 im Vergleich zum gleichen Zeitraum 2023. Trotz des Umsatzwachstums erhöhte sich der Nettoverlust im dritten Quartal um 84% auf $(1,197,803). Der Bruttogewinn des Unternehmens für das dritte Quartal betrug $2,866,151, während die allgemeinen und administrativen Aufwendungen auf $3,972,504 anstiegen. Das Eigenkapital der Aktionäre verbesserte sich um 18% auf $25,039,312 im Vergleich zu Dezember 2023. Das Wachstum wurde auf die Einführung neuer Produkte und die erweiterten Marketingmaßnahmen der Tochtergesellschaft Nora Pharma zurückgeführt.
- Q3 2024 revenue increased 42% YoY to $8.4M
- YTD revenue grew 54% to $25.3M
- Q3 gross profit increased to $2.9M from $2.0M YoY
- Shareholders' equity improved 18% to $25.0M
- YTD net loss decreased 9% to $3.0M
- Q3 net loss increased 84% YoY to $1.2M
- Q3 sales declined 9% sequentially from Q2
- G&A expenses increased 43% YoY to $4.0M in Q3
- Company remains unprofitable
Insights
The Q3 results present a mixed financial picture. While
The expanding gap between revenue growth and profitability is noteworthy - while gross margins improved to
The
FORT LAUDERDALE, FL / ACCESSWIRE / November 6, 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 third quarter report with the Securities and Exchange Commission. The Company reported gross revenues of
The following are highlights of the Company's 2024 third quarter results:
Sales in the third quarter grew to
$8,435,178 , compared to$5,957,668 during the same period last year, an increase of42% .
Sales of 8,435,178 in the third quarter were down
9% from the second quarter sales of$9,303,067 b ut up12% over first quarter sales of$7,541,046.
Net loss for the three months ended September 30, 2024, was
$(1,197,803) compared to a net loss of$(651,482) during the same period of 2023, an increase of84% .
The following are highlights of the Company's 2024 year-to-date (YTD) results:
In terms of YTD results, sales grew to
$25,279,291 , compared to$16,412,586 during the same period last year, an increase of54% .
Net loss for the nine months ended September 30, 2024, was
$(2,975,904) compared to a net loss of$(3,256,020) during the same period of 2023, a decrease of9% .
Shareholders' Equity grew to
$25,039,312 , an18% increase over Shareholders' Equity of$21,207,361 at December 31, 2023.
"At Sunshine Biopharma, we are relentlessly pursuing profitability," expressed Dr. Steve Slilaty, CEO. "Our dedicated team is implementing cutting-edge strategies and enhancing our operations to foster sustainable growth. We are unwavering in our commitment to delivering value to our stakeholders, and we firmly believe our hard work will pave the way for success."
The following are key metrics contained in the Company's Statement of Operations for the three- and nine-month periods ended September 30, 2024:
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| 2024Q3 | 2023Q3 | 2024YTD | 2023YTD |
Sales |
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Gross Profit |
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General & Administrative Expenses |
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Net Loss |
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About Sunshine Biopharma Inc.
Sunshine Biopharma currently has 63 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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