VANCOUVER, British Columbia, Nov. 29, 2022 (GLOBE NEWSWIRE) — Aequus Prescription drugs Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Firm”), a specialty pharmaceutical firm with a give attention to creating, advancing, and selling differentiated merchandise, right now reported monetary outcomes for the quarter ended September 30, 2022 (“Third Quarter 2022”) and related Firm developments. Except in any other case famous, all figures are in Canadian foreign money.
Monetary Report Highlights
Aequus reported $268,970 in promotional providers and product gross sales income throughout Third Quarter 2022 in comparison with income of $669,000 generated in the course of the three months ended September 30, 2021 (“Third Quarter 2021”). Through the 9 months ended September 30, 2022 (“YTD 2022”) Aequus achieved $826,944 in revenues in comparison with $1,783,363 generated in the course of the 9 months ended September 30, 2021 (“YTD 2021”). “The decrease revenues in Q3 are the results of Sandoz paying a decrease revenue share fee on Tacrolimus gross sales since January 2022,” stated Doug Janzen. “As we glance to subsequent yr, we now count on to launch SCOPE merchandise and Zimed® PF mid-2023 to work towards significant income development.”
Web losses elevated by 31% in Third Quarter 2022 in comparison with the identical interval final yr, with the Third Quarter 2022 web lack of $500,471 versus a $381,536 loss in Third Quarter 2021. The loss for YTD 2022 was $2,189,466 which is 48% larger than the $1,482,235 loss YTD 2021 primarily attributable to decrease income. Common administration prices have been 27% decrease in Third Quarter 2022 and 16% decrease in YTD 2022 when in comparison with the identical durations final yr.
Highlights from the quarter are as follows:
-
Gross sales and advertising and marketing prices for Third Quarter 2022 have been $506,230 in comparison with $551,966 in Third Quarter 2021, a lower of $45,736 or 8%. The lower associated decrease use of consultants and two employees positions that remained vacant for a part of the Third Quarter.
-
The Firm incurred analysis and growth (“R&D”) bills of $6,041 in Third Quarter 2022 in comparison with $49,122 in Third Quarter 2021. The Firm incurred R&D bills of $260,093 in YTD 2022 in comparison with $243,415 in YTD 2021. The $16,678 enhance in YTD 2022 was attributable work associated to the brand new Zimed® PF product submissions to Well being Canada.
-
Common and administration (“G&A”) bills have been $353,573 in Third Quarter 2022 in comparison with $488,039 in Third Quarter 2021, a lower of $134,466. G&A bills have been $1,286,576 in YTD 2022 in comparison with $1,532,548 in YTD 2021, a lower of $245,972. The lower was primarily pushed by price slicing measures in addition to decrease prices associated to accretion and curiosity bills associated to the Firm’s loans.
ABOUT AEQUUS PHARMACEUTICALS INC.
Aequus Prescription drugs Inc. (TSX-V: AQS, OTCQB: AQSZF) is a specialty pharmaceutical firm centered on creating and commercializing prime quality, differentiated merchandise. Aequus has grown its gross sales and advertising and marketing efforts to incorporate a number of industrial merchandise in ophthalmology. Aequus plans to construct on its Canadian industrial platform by way of the launch of further merchandise which are both created internally or introduced in by way of an acquisition or license, remaining centered on extremely specialised therapeutic areas. For additional info, please go to www.aequuspharma.ca.
FORWARD-LOOKING STATEMENT DISCLAIMER
This launch might comprise forward-looking statements or forward-looking info below relevant Canadian securities laws that is probably not primarily based on historic reality, together with, with out limitation, statements containing the phrases “consider”, “might”, “plan”, “will”, “estimate”, “proceed”, “anticipate”, “intend”, “count on”, “potential” and comparable expressions. Ahead- wanting statements are essentially primarily based on estimates and assumptions made by us in gentle of our expertise and notion of historic traits, present situations and anticipated future developments, in addition to the elements we consider are applicable. Ahead-looking statements embody however should not restricted to statements referring to: the implementation of our enterprise mannequin and strategic plans; income development traits into the long run; anticipated timing for product launches; the Firm’s anticipated revenues; the regulatory approval of its merchandise; the Firm’s means to draw worldwide companions; and ongoing discussions with and the Firm’s means to safe potential companions to additional develop our product portfolio. Such statements replicate our present views with respect to future occasions and are topic to dangers and uncertainties and are essentially primarily based upon numerous estimates and assumptions that, whereas thought-about affordable by Aequus, are inherently topic to important enterprise, financial, aggressive, political and social uncertainties and contingencies. Many elements may trigger our precise outcomes, efficiency or achievements to be materially completely different from any future outcomes, efficiency, or achievements that could be expressed or implied by such forward-looking statements. In making the ahead wanting statements included on this launch, the Firm has made numerous materials assumptions, together with, however not restricted to: acquiring regulatory approvals; basic enterprise and financial situations; the Firm’s means to efficiently promote its present merchandise and in-license and develop new merchandise; the belief that the Firm’s present good relationships with third events will likely be maintained; the supply of financing on affordable phrases; the Firm’s means to draw and retain expert employees; market competitors; the merchandise and know-how supplied by the Firm’s rivals; the influence of the coronavirus (COVID-19) on the Firm’s operations; and the Firm’s means to guard patents and proprietary rights. In evaluating ahead wanting statements, present and potential shareholders ought to particularly contemplate numerous elements set out herein and below the heading “Danger Components” within the Firm’s Annual Data Type dated June 30, 2022, a duplicate of which is offered on Aequus’ profile on the SEDAR web site at www.sedar.com, and as in any other case disclosed every so often on Aequus’ SEDAR profile. Ought to a number of of those dangers or uncertainties, or a threat that’s not presently recognized to us materialize, or ought to assumptions underlying these forward-looking statements show incorrect, precise outcomes might fluctuate materially from these described herein. These forward-looking statements are made as of the date of this launch and we don’t intend, and don’t assume any obligation, to replace these forward-looking statements, besides as required by relevant securities legal guidelines. Buyers are cautioned that forward-looking statements should not ensures of future efficiency and are inherently unsure. Accordingly, traders are cautioned to not put undue reliance on ahead wanting statements.
CONTACT INFORMATION
Aequus Investor Relations
E-mail: traders@aequuspharma.ca
Cellphone: 604-336-7906
