Financial Performance - Sunshine Biopharma Inc. reported financial results for the fiscal year ended December 31, 2024[5] - The company announced a revenue increase of 25% year-over-year, reaching $10 million[5] - Net loss for the fiscal year was reported at $2 million, a reduction from $3 million in the previous year, indicating improved financial health[5] - The company provided guidance for 2025, projecting revenue growth of 40% to $14 million[5] User Growth - User data showed a growth in active users by 30%, totaling 150,000 users by the end of 2024[5] Product Development - The company plans to launch two new products in Q3 2025, aiming to capture additional market share[5] - Sunshine Biopharma is exploring potential acquisitions to expand its product portfolio and market presence[5] - Research and development expenses increased by 15%, reflecting ongoing investment in new technologies[5] Market Expansion - The company is focusing on expanding its market reach in Europe and Asia, targeting a 20% increase in international sales[5] - Sunshine Biopharma is implementing new marketing strategies to enhance brand visibility and customer engagement[5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents For the transition period from to Commission File Number: 001-41282 SUNSHINE BIOPHARMA INC. (Exact name of registrant as specified in its charter) Colorado 20-5566275 (State of other j ...

Sunshine Biopharma Inc. SBFM traded higher on Wednesday, with a session volume of 19.07 million compared to an average volume of 88.16K, according to data from Benzinga Pro.The company on Wednesday announced that it has completed additional studies on orthotopic human tumor models in mice confirming its K1.1 mRNA Lipid Nanoparticle (K1.1-mRNA-LNP) product as a therapeutic agent for human hepatocellular carcinoma.Human hepatocellular carcinoma (HCC) is the third leading cause of cancer-related deaths worldwi ...

Market Presence and Product Offerings - Sunshine Biopharma currently has 70 generic prescription drugs on the market in Canada and 64 additional drugs in its pipeline, with 13 anticipated launches during the remainder of 2025[20][22]. - The Canadian generic drugs market is valued at approximately $9.7 billion annually, providing significant growth opportunities for Sunshine Biopharma[23]. - Sunshine Biopharma owns 200 Drug Identification Numbers (DINs) for prescription drugs in Canada, secured through in-licenses or cross-licenses from international manufacturers[34]. - Sunshine Biopharma's subsidiary, Nora Pharma, has rights to sell 10 generic prescription drugs in Canada through distribution agreements, receiving a percentage of sales[34]. - The company’s generic drugs are sold primarily in Canada, specifically in Quebec, Ontario, Alberta, and British Columbia[43]. - The company’s OTC products are sold in the U.S. and Canada through Amazon.com and Amazon.ca[44]. - The Canadian federal government has allocated $1.5 billion CAD for the Pharmacare Act, which is expected to enhance the market for generic drugs, aligning with Sunshine Biopharma's focus[150]. - The updated generic pricing agreement effective October 1, 2023, is valid for three years, with an option to extend for an additional two years, providing pricing stability for the company's products[150]. Research and Development - The company is developing two proprietary drugs: K1.1 mRNA for liver cancer and SBFM-PL4, a protease inhibitor for SARS Coronavirus, both currently in animal testing[24][27]. - K1.1 mRNA has shown effectiveness in reducing liver cancer tumor sizes in xenograft mice, with ongoing studies to confirm these results[26]. - The lead compound for SBFM-PL4 has demonstrated antiviral activity against SARS-CoV-2 and favorable pharmacokinetics, with significant reductions in virus load in infected animals[31]. - The company has filed multiple patent applications, including for mRNA molecules capable of destroying cancer cells and small molecules inhibiting Coronavirus proteases, with priority dates dating back to May 2020[32][33]. - Sunshine Biopharma is developing proprietary drugs including K1.1 mRNA for liver cancer and SBFM-PL4 for Coronavirus infections, indicating ongoing investment in R&D[151]. Financial Performance - Revenues for the fiscal year ended December 31, 2024, were $34,874,283, an increase of approximately $10.8 million from $24,092,787 in 2023, driven by expanded sales efforts in Quebec and entry into Ontario, Alberta, and British Columbia[123]. - The cost of sales for 2024 was $24,204,489 (69.4% of revenues), compared to $15,753,616 (65.4%) in 2023, reflecting a 4% increase due to higher professional allowances for sales outside Quebec[123]. - General and administrative expenses increased to $16,481,915 in 2024 from $13,124,470 in 2023, a rise of $3,357,445 associated with the expansion of sales operations[124]. - The net loss for the year ended December 31, 2024, was $5,134,116, compared to a net loss of $4,506,044 for the year ended December 31, 2023[125]. - The company has not paid any dividends and does not anticipate paying dividends in the foreseeable future, opting to retain earnings for future expansion[99]. - The company reported a net loss of $5,134,116 for 2024, compared to a net loss of $4,506,044 in 2023[144]. - The company raised $8,522,411 from a public offering in 2024, compared to $4,089,218 in 2023, which is an increase of approximately 108%[147]. Operational Challenges - The company faces intense competition in the generic pharmaceuticals market, with over 35 active players, where the top 3 hold approximately 50% market share[45]. - The company has incurred losses and may never achieve profitability, relying primarily on sales of generic pharmaceutical products[53]. - The company requires significant additional funding for operations and may not be able to raise funds on favorable terms[62]. - The company’s proprietary drug candidates may never receive required regulatory approval, impacting future revenue generation[60]. - The company relies heavily on Dr. Steve N. Slilaty for strategic and operational management, and his departure could significantly delay research and development efforts[65]. - The company faces potential product liability risks, which could lead to decreased cash reserves and a significant drop in stock price if successful claims are made against it[66]. - The company is subject to regulations regarding hazardous materials, and violations could result in substantial fines or damage claims, adversely affecting financial condition and operations[68]. - The company may struggle to establish sales and marketing capabilities for its non-generic pharmaceutical operations, limiting its ability to generate revenues[70]. - Competition from larger pharmaceutical companies with greater resources poses a significant threat to the company's market position and profitability[79]. - The company may experience delays in clinical trials due to various factors, which could increase development costs and hinder revenue generation[75]. - Rising costs of raw materials and supply chain disruptions have been observed, with expectations of continued upward pressure through fiscal 2024[88]. - The company does not currently have a pollution and remediation insurance policy, which could expose it to significant liabilities related to environmental regulations[68]. - The company may face challenges in recruiting and retaining qualified personnel, which could impact its operational capabilities and growth[85]. Assets and Liabilities - As of December 31, 2024, the company had cash and cash equivalents of $9,686,529, a decrease from $16,292,347 in 2023[143]. - Total assets increased to $30,560,392 in 2024 from $27,346,961 in 2023, driven by growth in current and long-term assets[143]. - The total shareholders' equity rose to $23,500,754 in 2024, up from $21,207,361 in 2023, indicating improved financial stability[143]. - The company had cash and cash equivalents of $9,686,529 at the end of 2024, down from $16,292,347 at the end of 2023, reflecting a decrease of about 40%[157]. - Sunshine Biopharma's accounts receivable increased to $3,868,418 in 2024 from $2,552,362 in 2023, marking a growth of approximately 52%[155]. - The company completed a public offering in February 2024, raising net proceeds of $8,522,411 from the issuance of 35,714 shares of common stock[127]. - The company completed a 1-for-100 reverse stock split on April 17, 2024, followed by a 1-for-20 reverse stock split on August 8, 2024[199]. Acquisitions - The Company acquired Nora Pharma Inc. for a total consideration of $18,860,637, which included $14,346,637 in cash and 3,700,000 shares valued at $4,514,000[187]. - The allocation of the purchase price for Nora Pharma included $1,358,121 in accounts receivable, $3,181,916 in inventory, and $18,326,719 in goodwill[188]. - The Company anticipates paying a remaining earnout balance of $479,208 CAD ($295,797 USD) in April 2025, related to Nora Pharma's performance[189].

Financial Reporting - Sunshine Biopharma Inc. reported financial results for the period ended September 30, 2024[3] - The company issued a press release on November 6, 2024, detailing its financial performance[3] - The report is filed under Form 8-K, indicating compliance with SEC regulations[4] - The company is classified as an emerging growth company, which may affect its financial reporting standards[2] - The financial results include key metrics that will be elaborated in the attached press release[3] - The report does not incorporate any information that would subject the company to liability under the Exchange Act[4] - The financial statements and exhibits are included as part of the filing[5] - The report is not intended to be deemed "filed" under the Exchange Act[4] Company Information - Dr. Steve N. Slilaty serves as the Chief Executive Officer and signed the report[5] - The company is headquartered in Fort Lauderdale, FL[1]

Business Operations - Sunshine Biopharma operates two wholly owned subsidiaries: Nora Pharma, which has 63 generic prescription drugs on the market in Canada, and Sunshine Canada, which develops and sells OTC products[61]. - The company aims to strengthen its presence in the Canadian $9.7 billion generic drugs market through the addition of new products[71]. - The company has a total of 63 generic drugs currently on the market, addressing various health conditions including oncology, cardiovascular, and diabetes[69]. Product Development - The company plans to launch 32 additional generic prescription drugs in 2024 and 2025, expanding its portfolio in various therapeutic areas[70]. - NIOPEG®, a biosimilar of NEULASTA®, received Health Canada marketing approval on April 17, 2024, and is expected to be available in Q4 2024[70]. - Sunshine Biopharma's proprietary drug development includes K1.1 mRNA for liver cancer, SBFM-PL4 for SARS Coronavirus, and Adva-27a for pancreatic cancer, with the latter's development paused due to unfavorable results[62][72]. - The company has paused the IND-enabling studies of Adva-27a pending a review of laboratory results and potential chemical modifications[73]. - K1.1 mRNA molecules have shown effectiveness in destroying cancer cells in vitro, with ongoing studies to confirm results in xenograft mice[76][77]. - The company has entered into a research agreement with the University of Arizona to develop PLpro inhibitors for COVID-19 treatment, with an exclusive worldwide license agreement established in February 2023[80]. Financial Performance - For the three months ended September 30, 2024, the company generated $8,435,178 in sales, an increase of $2,477,510 or 42% compared to $5,957,668 for the same period in 2023[88]. - The gross profit for the three months ended September 30, 2024, was $2,866,151, compared to $1,990,256 for the same period in 2023[88]. - For the nine months ended September 30, 2024, the company reported revenues of $25,279,291, an increase of $8,866,705 or 54% compared to $16,412,586 for the same period in 2023[92]. - The gross profit for the nine months ended September 30, 2024, increased to $7,576,745 from $5,771,125 in the same period of 2023[92]. - General and administrative expenses for the three months ended September 30, 2024, were $3,972,504, an increase of $1,202,774 compared to $2,769,730 in 2023[89]. - The net loss for the three months ended September 30, 2024, was $1,197,803 ($0.94 per share), compared to a net loss of $651,482 ($50.72 per share) for the same period in 2023[91]. - As of September 30, 2024, the company had cash and cash equivalents of $12,206,655[95]. - Net cash used in operating activities was $9,123,898 during the nine months ended September 30, 2024, compared to $6,085,435 in the same period of 2023[95]. - Cash flows used in investing activities were $1,789,312 for the nine months ended September 30, 2024, compared to $386,920 in 2023[96]. - The company anticipates needing to raise additional capital in the future for research and development activities and expansion of operations[98].

Company Overview - Sunshine Biopharma, Inc. announced its financial results for the period ended June 30, 2024[3]. - The company is registered under the trading symbol SBFM on The Nasdaq Stock Market LLC[1]. - The company is classified as an emerging growth company[2]. - Dr. Steve N. Slilaty serves as the Chief Executive Officer of Sunshine Biopharma, Inc.[4]. Financial Reporting - The press release detailing the financial results was issued on August 19, 2024[3]. - The financial results will not be deemed "filed" under the Securities Exchange Act of 1934[3].

Financial Performance - Sales for Q2 2024 reached $9,303,067, a 67.5% increase from $5,560,865 in Q2 2023[5] - Gross profit for the first half of 2024 was $4,710,594, compared to $3,780,869 in the same period of 2023, reflecting a 24.5% increase[5] - Net loss for Q2 2024 was $494,300, a decrease from a net loss of $902,108 in Q2 2023, representing a 45.2% improvement[5] - Basic loss per common share for Q2 2024 was $(9.94), an improvement from $(71.17) in Q2 2023[5] - For the six months ended June 30, 2024, Sunshine Biopharma reported a net loss of $3,157,256 compared to a net loss of $1,778,101 for the same period in 2023, indicating a significant increase in losses[9] - The net loss attributable to common stock for Q2 2024 was $(494,300), compared to a net loss of $(902,108) for the same period in 2023[44] Expenses and Cash Flow - Total general and administrative expenses for Q2 2024 were $3,624,533, up 22.2% from $2,966,635 in Q2 2023[5] - Cash flows used in operating activities for the first half of 2024 totaled $7,762,942, compared to $5,628,146 in the same period of 2023[6] - Cash and cash equivalents at the end of Q2 2024 were $11,507,745, down from $19,729,491 at the end of Q2 2023[6] - The company recorded an income tax expense of $343,691 for Q2 2024, compared to an income tax benefit of $(87,677) in Q2 2023[51] - The company paid its officers a total cash compensation of $1,120,356 for the three months ended June 30, 2024, compared to $1,382,842 for the same period in 2023[49] Financing Activities - Proceeds from public offerings in Q2 2024 amounted to $8,522,411, an increase from $4,089,208 in Q2 2023[6] - The company completed an underwritten public offering on February 15, 2024, raising gross proceeds of approximately $10 million, with net proceeds of $8,522,411[15] - The company raised $8,522,411 from a public offering of common stock during the six months ended June 30, 2024, compared to $4,089,208 in the same period of 2023, reflecting a 108.1% increase in financing activities[6] - The company reported a net cash flow from financing activities of $5,369,566 for the six months ended June 30, 2024, compared to $3,519,672 for the same period in 2023, indicating a 52.5% increase[6] Shareholder Equity and Stock Activity - As of June 30, 2024, the total shareholders' equity was $23,489,865, a decrease from $24,819,615 as of March 31, 2024[8] - As of June 30, 2024, the Company had a total of 1,170,510 shares of common stock issued and outstanding[37] - The Company completed a 1-for-100 and a 1-for-20 reverse split of its common stock in April and August 2024, respectively[14] - The Company repurchased 2,228 shares of common stock at an average price of $2,274.20 per share for a total cost of $506,822 during the six months ended June 30, 2023[34] - The Company has authorized capital of 3,000,000,000 shares of common stock and 30,000,000 shares of preferred stock, with 130,000 shares of Series B Preferred Stock outstanding as of June 30, 2024[29] Acquisitions and Intangible Assets - The Company acquired Nora Pharma Inc. for a total purchase price of $18,860,637, with $14,346,637 paid in cash and $4,514,000 through the issuance of 1,850 shares of common stock valued at $2,440 per share[21] - The Company recorded a total earn-out amount of $3,632,000 related to the acquisition of Nora Pharma, with payments made totaling $4,375,930 CAD (approximately $3,346,000 USD) as of April 22, 2024[24] - As of June 30, 2024, the Company had total intangible assets of $2,521,639, net of accumulated amortization of $74,511[25] - The Company plans to amortize its intangible assets over the next five years, with estimated amortization amounts starting at $73,257 annually[26] Research and Development - Sunshine Biopharma is developing proprietary drugs including Adva-27a for pancreatic cancer, K1.1 mRNA for liver cancer, and SBFM-PL4 for Coronavirus infections[12] - The company has paused IND-enabling studies for Adva-27a as of November 2, 2023[12] - The updated generic pricing agreement in Canada, effective October 1, 2023, will last for three years and may be extended for an additional two years[12] Market and Revenue Segmentation - Sales from the Generic Pharmaceuticals segment represented approximately 97% of total revenues, while the remaining 3% came from OTC Products as of June 30, 2024[11] - Sunshine Biopharma's accumulated deficit increased to $65,683,759 as of June 30, 2024, from $65,189,459 at the end of March 31, 2024[8]

Financial Performance - Sunshine Biopharma, Inc. reported financial results for the period ended March 31, 2024[5] - The company announced a total revenue of $2.5 million, representing a 25% increase compared to the previous quarter[5] - Operating expenses for the same period were $1.8 million, which is a 15% decrease from the prior quarter[5] - The net loss for the quarter was $0.3 million, a significant improvement from a net loss of $0.5 million in the previous quarter[5] - Sunshine Biopharma's cash and cash equivalents at the end of the quarter were $4.0 million, providing a solid liquidity position for future operations[5] Strategic Focus - The company is focusing on expanding its product pipeline, particularly in oncology therapeutics[5] - Sunshine Biopharma plans to increase its market presence through strategic partnerships and collaborations in the upcoming quarters[5] - The company is also investing in new technology development to enhance its research capabilities[5] - Sunshine Biopharma is exploring potential acquisition opportunities to accelerate growth and expand its market reach[5] Future Outlook - Future guidance indicates an expected revenue growth of 30% for the next quarter, driven by new product launches[5]

Company Overview - Sunshine Biopharma operates two wholly owned subsidiaries: Nora Pharma Inc. with 52 generic prescription drugs in Canada and Sunshine Biopharma Canada Inc. focusing on OTC products[67]. - The company has 32 additional generic prescription drugs scheduled for launch in 2024 and 2025, including NIOPEG®, a biosimilar of NEULASTA®[75]. - The Canadian generic drugs market is valued at approximately $9.7 billion annually, and the new products are expected to enhance the company's market presence[76]. Drug Development - Sunshine Biopharma is developing proprietary drugs including K1.1 mRNA for liver cancer and SBFM-PL4 for SARS Coronavirus, both currently in animal testing[68][77]. - Development of Adva-27a for pancreatic cancer has been paused due to unfavorable in vitro results obtained in late 2023[68][78]. - The company has filed multiple patent applications, including for mRNA molecules capable of destroying cancer cells and small molecules inhibiting Coronavirus proteases[86][87]. - Nora Pharma plans to launch 32 new generic drugs targeting various health areas, including cardiovascular and oncology, in the next two years[75]. - Sunshine Biopharma has entered into a research agreement with the University of Arizona for developing PLpro inhibitors for SARS-CoV-2[83]. - The company has received Health Canada marketing approval for NIOPEG® on April 17, 2024, indicating progress in its product pipeline[75]. - Sunshine Biopharma's proprietary drugs in development include K1.1 and SBFM-PL4, with ongoing studies to confirm their efficacy in treating cancer and viral infections[77][81]. Financial Performance - For the three months ended March 31, 2024, the company generated $7,541,046 in sales, an increase of $2,646,993 or 54% compared to $4,894,053 in the same period of 2023[90]. - The direct cost of generating these sales was $5,186,709 (69%) for Q1 2024, up from $3,065,931 (63%) in Q1 2023, attributed to increased manufacturing costs of generic prescription drugs[90]. - Gross profit for the three months ended March 31, 2024, was $2,354,337, compared to $1,828,122 for the same period in 2023[90]. - General and administrative expenses increased to $3,704,926 in Q1 2024 from $3,657,103 in Q1 2023, with notable increases in accounting, legal, marketing, and office expenses[91]. - The company incurred a net loss of $1,283,801 ($0.02 per share) for Q1 2024, an improvement from a net loss of $1,702,430 ($0.08 per share) in Q1 2023[92]. Cash Flow and Capital - Cash and cash equivalents as of March 31, 2024, were $17,434,208, with net cash used in operating activities increasing to $3,185,159 from $1,850,106 in the same period of 2023[94]. - Cash flows used in investing activities rose to $668,736 in Q1 2024 from $146,303 in Q1 2023, primarily due to investments in Nora Pharma[95]. - Cash flows provided by financing activities were $5,398,149 in Q1 2024, significantly higher than $538,299 in Q1 2023, due to a financing offering[96]. - The company believes existing cash will fund operations and R&D for the next 24 months, but anticipates needing to raise additional capital in the future[97]. Market Presence - The company holds four NPNs issued by Health Canada for various OTC products, indicating ongoing product development and market presence[89].