Sunshine Biopharma Reports Revenue of $34.9M in Fiscal 2024, Up 45% From Last Year
Sunshine Biopharma (NASDAQ:SBFM) reported significant growth in fiscal 2024, with revenue reaching $34.9 million, marking a 45% increase from $24.1 million in 2023. Despite revenue growth, the company's net loss widened to $5.1 million from $4.5 million in 2023.
Key developments include:
- Completion of a $10 million public offering for sales operations expansion
- Launch of 13 new generic prescription drugs
- Health Canada approval for oncology drug NIOPEG®
- Publication of research on a new Coronavirus PLpro inhibitor
- Successful completion of mouse model studies for K1.1 mRNA Lipid Nanoparticle therapy for liver cancer treatment
The company's gross profit increased to $10.7 million, while general and administrative expenses rose to $16.5 million in 2024.
Sunshine Biopharma (NASDAQ:SBFM) ha riportato una crescita significativa nel fiscale 2024, con ricavi che hanno raggiunto 34,9 milioni di dollari, segnando un aumento del 45% rispetto ai 24,1 milioni di dollari del 2023. Nonostante la crescita dei ricavi, la perdita netta dell'azienda è aumentata a 5,1 milioni di dollari rispetto ai 4,5 milioni di dollari del 2023.
Sviluppi chiave includono:
- Completamento di un'offerta pubblica da 10 milioni di dollari per l'espansione delle operazioni di vendita
- Lanciatore di 13 nuovi farmaci generici da prescrizione
- Approvazione da parte di Health Canada per il farmaco oncologico NIOPEG®
- Pubblicazione di ricerche su un nuovo inibitore del Coronavirus PLpro
- Completamento con successo di studi su modelli murini per la terapia K1.1 mRNA Lipid Nanoparticle per il trattamento del cancro al fegato
Il profitto lordo dell'azienda è aumentato a 10,7 milioni di dollari, mentre le spese generali e amministrative sono salite a 16,5 milioni di dollari nel 2024.
Sunshine Biopharma (NASDAQ:SBFM) reportó un crecimiento significativo en el ejercicio fiscal 2024, con ingresos que alcanzaron 34,9 millones de dólares, marcando un aumento del 45% respecto a los 24,1 millones de dólares en 2023. A pesar del crecimiento de ingresos, la pérdida neta de la empresa se amplió a 5,1 millones de dólares desde 4,5 millones de dólares en 2023.
Los desarrollos clave incluyen:
- Finalización de una oferta pública de 10 millones de dólares para la expansión de operaciones de ventas
- Lanzamiento de 13 nuevos medicamentos genéricos con receta
- Aprobación de Health Canada para el medicamento oncológico NIOPEG®
- Publicación de investigaciones sobre un nuevo inhibidor de Coronavirus PLpro
- Finalización exitosa de estudios en modelos de ratón para la terapia K1.1 mRNA Lipid Nanoparticle para el tratamiento del cáncer de hígado
El beneficio bruto de la empresa aumentó a 10,7 millones de dólares, mientras que los gastos generales y administrativos subieron a 16,5 millones de dólares en 2024.
Sunshine Biopharma (NASDAQ:SBFM)는 2024 회계연도에 상당한 성장을 보고했으며, 수익이 3,490만 달러에 달해 2023년의 2,410만 달러에 비해 45% 증가했습니다. 수익 성장에도 불구하고, 회사의 순손실은 2023년 450만 달러에서 510만 달러로 확대되었습니다.
주요 개발 사항은 다음과 같습니다:
- 판매 운영 확장을 위한 1,000만 달러의 공모 완료
- 13개의 새로운 일반 처방약 출시
- 온콜로지 약물 NIOPEG®에 대한 Health Canada 승인
- 새로운 코로나바이러스 PLpro 억제제에 대한 연구 발표
- 간암 치료를 위한 K1.1 mRNA 지질 나노입자 치료법의 마우스 모델 연구 성공적으로 완료
회사의 총 이익은 1,070만 달러로 증가했으며, 일반 및 관리 비용은 2024년에 1,650만 달러로 증가했습니다.
Sunshine Biopharma (NASDAQ:SBFM) a signalé une croissance significative au cours de l'exercice fiscal 2024, avec des revenus atteignant 34,9 millions de dollars, marquant une augmentation de 45 % par rapport à 24,1 millions de dollars en 2023. Malgré la croissance des revenus, la perte nette de l'entreprise s'est élargie à 5,1 millions de dollars contre 4,5 millions de dollars en 2023.
Les développements clés comprennent:
- Achèvement d'une offre publique de 10 millions de dollars pour l'expansion des opérations de vente
- Lancement de 13 nouveaux médicaments génériques sur prescription
- Approbation de Health Canada pour le médicament oncologique NIOPEG®
- Publication de recherches sur un nouvel inhibiteur du Coronavirus PLpro
- Achèvement réussi d'études sur des modèles murins pour la thérapie K1.1 mRNA Lipid Nanoparticle pour le traitement du cancer du foie
Le bénéfice brut de l'entreprise a augmenté à 10,7 millions de dollars, tandis que les frais généraux et administratifs ont augmenté à 16,5 millions de dollars en 2024.
Sunshine Biopharma (NASDAQ:SBFM) berichtete von einem signifikanten Wachstum im Geschäftsjahr 2024, wobei die Einnahmen 34,9 Millionen Dollar erreichten, was einem Anstieg von 45% im Vergleich zu 24,1 Millionen Dollar im Jahr 2023 entspricht. Trotz des Umsatzwachstums weitete sich der Nettoverlust des Unternehmens auf 5,1 Millionen Dollar aus, verglichen mit 4,5 Millionen Dollar im Jahr 2023.
Wichtige Entwicklungen umfassen:
- Abschluss eines öffentlichen Angebots über 10 Millionen Dollar zur Expansion der Verkaufsoperationen
- Einführung von 13 neuen Generika
- Genehmigung von Health Canada für das Onkologie-Medikament NIOPEG®
- Veröffentlichung von Forschung zu einem neuen Coronavirus-PLpro-Hemmer
- Erfolgreicher Abschluss von Mausmodellstudien zur K1.1 mRNA Lipid-Nanopartikeltherapie zur Behandlung von Leberkrebs
Der Bruttogewinn des Unternehmens stieg auf 10,7 Millionen Dollar, während die allgemeinen und Verwaltungskosten im Jahr 2024 auf 16,5 Millionen Dollar anstiegen.
- 45% revenue growth to $34.9M in 2024
- 28% increase in gross profit to $10.7M
- Health Canada approval for NIOPEG oncology drug
- Launch of 13 new generic prescription drugs
- Successful completion of K1.1 mRNA therapy mouse trials
- Net loss increased 14% to $5.1M
- General & Administrative expenses rose 26% to $16.5M
- $10M public offering may dilute existing shareholders
Insights
Sunshine Biopharma's latest financial results reveal substantial top-line growth with
However, this revenue expansion comes with increased operational costs. G&A expenses climbed
The
The approval of NIOPEG (biosimilar of Neulasta) by Health Canada represents a potential inflection point. Biosimilars typically generate higher margins than generic pharmaceuticals, which could improve profitability metrics in coming quarters if the launch is executed effectively.
The diversification strategy of adding 13 new generic drugs demonstrates management's commitment to expanding their commercial portfolio while their proprietary research advances. This balanced approach hedges risk while pursuing higher-reward proprietary assets.
Sunshine Biopharma's research pipeline shows strategic diversification across multiple high-value therapeutic areas. The Health Canada approval for NIOPEG®, a biosimilar of NEULASTA®, represents a significant commercial opportunity in the oncology supportive care market. NEULASTA® (pegfilgrastim) generates billions in annual sales globally, and while biosimilar competition is increasing, this approval provides immediate revenue potential in the Canadian market.
The publication in the Journal of Medicinal Chemistry regarding their Coronavirus PLpro inhibitor demonstrates scientific validation of their antiviral research. PLpro inhibitors target a different viral mechanism than most approved antivirals, potentially addressing treatment gaps. The sub-micromolar potency and robust in vivo efficacy in mouse models represent meaningful pre-clinical validation.
Most intriguing is their K1.1 mRNA Lipid Nanoparticle development for hepatocellular carcinoma. This represents entry into the cutting-edge mRNA therapeutic space, targeting the third leading cause of cancer deaths worldwide. The completion of proof-of-concept studies in mouse models is an early but promising step.
The company's dual approach—generating revenue through generics while advancing proprietary research—provides operational sustainability during the lengthy drug development process. With 13 new generic launches in 2024, they're effectively balancing near-term revenue needs with long-term proprietary asset development across oncology and antivirals, two persistently high-value therapeutic areas.
FORT LAUDERDALE, FL / ACCESS Newswire / April 1, 2025 / 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 annual report on Form 10-K on Tuesday, April 1, 2025. The following are highlights of the report:
Revenue in 2024 grew to
$34.9 million , a45% increase over 2023 revenue of$24.1 million .
Completed an underwritten public offering of approximately
$10 million in gross proceeds for expansion of sales operations.
Launched 13 new generic prescription drugs, 4 under cross-licensing agreements and 9 under distribution agreements.
Received regulatory approval from Health Canada for marketing of the oncology drug NIOPEG®, a biosimilar of NEULASTA®.
Announced publication of groundbreaking research results in the Journal of Medicinal Chemistry (J. Med. Chem. 2024, 67, 13681−13702) demonstrating the superior efficacy of Sunshine Biopharma's new Coronavirus PLpro inhibitor. The study showcases a PLpro inhibitor with sub-micromolar potency and robust in vivo efficacy in a mouse model of SARS-CoV-2 infection. This peer-reviewed research marks an important milestone in Sunshine Biopharma's ongoing efforts to develop proprietary therapies in critical disease areas.
Announced completion of mouse model studies providing proof-of-concept for the Company's K1.1 mRNA Lipid Nanoparticle as a novel therapeutic agent for human hepatocellular carcinoma. Human hepatocellular carcinoma is the third leading cause of cancer-related deaths worldwide and the most common type of primary liver cancer in adults.
"We are pleased with our accomplishments in 2024, as we remain committed to reaching profitability in the near future," said Dr. Steve Slilaty, CEO of the Company. "Looking ahead, we are excited about the opportunities for growth in 2025 and beyond, as we continue to advance our proprietary drug development program to deliver more life-saving medicines to the market."
The following are key elements of the Income Statement contained in the Company's 2024 report:
| 2024 |
|
| 2023 |
| |||
Revenue |
| $ | 34,874,283 |
|
| $ | 24,092,787 |
|
Gross Profit |
| $ | 10,669,794 |
|
| $ | 8,339,171 |
|
General & Administrative Expenses |
| $ | 16,481,915 |
|
| $ | 13,124,470 |
|
Net Loss |
| $ | 5,134,116 |
|
| $ | 4,506,044 |
|
About Sunshine Biopharma Inc.
Sunshine Biopharma currently has 70 generic prescription drugs on the market in Canada and 13 additional drugs scheduled to be launched in the remainder of 2025. Among the new drugs to be launched 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.
All registered trademarks are the property of their respective owners.
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 more information, please contact:
Camille Sebaaly, CFO
Direct Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
SOURCE: Sunshine Biopharma Inc.
View the original press release on ACCESS Newswire
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