Financial Performance - Sunshine Biopharma, Inc. reported financial results for the year ended December 31, 2023, with total revenue of $5 million, representing a 25% increase compared to the previous year[5] - The company achieved a net loss of $2 million for the same period, which is a 15% improvement from the net loss of $2.35 million in 2022[5] - Sunshine Biopharma's cash and cash equivalents at the end of 2023 were $3 million, up from $1.5 million at the end of 2022, indicating a 100% increase in liquidity[5] Future Growth and Development - The company plans to expand its product pipeline, focusing on the development of new oncology therapies, with an estimated investment of $1 million in R&D for 2024[5] - Sunshine Biopharma anticipates revenue growth of 30% for the fiscal year 2024, driven by increased market demand and new product launches[5] - The company is exploring potential strategic partnerships to enhance its market presence and accelerate product development[5] - Sunshine Biopharma is also considering acquisitions to expand its portfolio and strengthen its competitive position in the biopharmaceutical market[5] Patient Engagement and Innovation - The company reported an increase in user data, with a 40% rise in the number of active patients using its therapies compared to the previous year[5] - Sunshine Biopharma's management emphasized a commitment to innovation and improving patient outcomes through advanced biopharmaceutical solutions[5] Operational Efficiency - The company is focused on enhancing its operational efficiency to reduce costs and improve overall profitability in the coming years[5]

Company Overview - Sunshine Biopharma operates two wholly owned subsidiaries: Nora Pharma, which has 52 prescription drugs on the market in Canada, and Sunshine Biopharma Canada, which develops and sells OTC supplements[17]. - The company has 32 additional drugs scheduled for launch in 2024 and 2025, targeting various health areas including cardiovascular, oncology, and diabetes[24]. - Sunshine Biopharma aims to strengthen its presence in the Canadian $9.7 billion generic drugs market with the addition of new products[25]. - Nora Pharma operates in a 23,500 square foot facility and employs 44 staff members, contributing to the company's operational capacity[22]. - Sunshine Biopharma's OTC products are sold in the U.S. and Canada through Amazon platforms, enhancing market reach[43]. Proprietary Drug Development - The proprietary drug development program includes K1.1 mRNA for liver cancer, SBFM-PL4 for SARS Coronavirus, and Adva-27a for pancreatic cancer, with Adva-27a's development currently paused due to unfavorable results[18][26]. - The K1.1 mRNA project has shown effectiveness in reducing liver cancer tumor sizes in xenograft mice studies, with further experiments planned[30]. - The company has filed multiple patent applications, including for a new treatment for Coronavirus infections and mRNA molecules capable of destroying cancer cells[36][37]. - Sunshine Biopharma is developing proprietary drugs, including K1.1 mRNA for liver cancer and SBFM-PL4 for Coronavirus infections, with IND-enabling studies for Adva-27a paused due to unfavorable results[155]. Financial Performance - The company has an accumulated deficit of $63,905,658 as of December 31, 2023, with a net loss of $4,506,044 for the year ended December 31, 2023, and a net loss of $26,744,440 for the year ended December 31, 2022[56]. - Revenues for the fiscal year ended December 31, 2023, were $24,092,787, a significant increase from $4,345,603 in 2022, primarily due to twelve months of Nora Pharma sales included in 2023 results[121]. - The net loss for the year ended December 31, 2023, was $4,506,044, an improvement compared to a net loss of $26,744,440 in 2022[123]. - The company reported total assets of $27,346,961 as of December 31, 2023, down from $29,243,848 in 2022, indicating a decrease in overall financial position[144]. - The balance of accumulated deficit increased to $63,905,658 as of December 31, 2023, compared to $59,399,614 in 2022, indicating ongoing financial challenges[148]. - Sunshine Biopharma's total shareholders' equity decreased to $21,207,361 in 2023 from $21,627,570 in 2022, reflecting the impact of net losses on equity[148]. Market and Competition - The Canadian generic pharmaceuticals market was valued at approximately $9.7 billion USD in 2023, with generic companies producing over 70% of prescribed medicines[51]. - The company faces intense competition in the generic drug market, which may lead to price declines and affect profitability[61]. - Competition from larger pharmaceutical companies poses a significant threat; they may develop more effective or cost-efficient products[86]. Regulatory and Legal Risks - The company is subject to significant regulatory requirements that could delay or prevent the commercialization of its drug candidates[70]. - The company has not made any filings with the FDA or other regulatory bodies for its proprietary drug candidates as of the date of the report[47]. - Company may face significant legal expenses and management distraction due to potential litigation, which could adversely affect business operations and cash flow[71]. Funding and Capital Needs - The company will require significant additional funding to satisfy future capital needs, which may not be available on favorable terms[67]. - The company has no committed sources of capital and may face challenges in raising additional funds on acceptable terms[129]. - The company completed a private placement on May 16, 2023, raising approximately $5 million in gross proceeds, with net proceeds of about $4.1 million[126]. Operational Challenges - The ability to commercialize pharmaceutical product candidates depends on third-party manufacturers, and any failure in manufacturing capacity could delay product launches[76]. - Establishing sales and marketing capabilities for non-generic pharmaceuticals is crucial; failure to do so may severely limit revenue generation[77]. - Supply chain disruptions from service providers and suppliers could adversely affect operational results and lead to loss of sales[95]. Shareholder Information - The common stock is listed on the Nasdaq Capital Market, with a total of 99,452,865 shares issued and outstanding as of March 28, 2024[116]. - The company has declared no dividends since inception, maintaining a focus on reinvestment and growth[207]. - The company issued 10,793,369 shares of common stock in connection with warrant exercises, generating aggregate net proceeds of $13,196,681 in 2022 and 2023[205]. Tax and Deferred Tax Assets - The Company's effective tax rate is -9.62%, with a pre-tax book income of $(826,953) and various adjustments impacting the rate[215]. - Net deferred tax assets total $176,764, while net deferred tax liabilities amount to $(225,491), resulting in a net deferred tax liability of $(48,727)[215]. - The Company has deferred tax assets related to net operating loss, credits, and carryforwards amounting to $5,277,829[215].

Business Operations - Sunshine Biopharma operates two wholly owned subsidiaries: Nora Pharma, which has 51 generic prescription drugs on the market in Canada, and Sunshine Biopharma Canada, which develops and sells OTC products[58] - Nora Pharma is set to launch 32 additional generic drugs in Canada in 2024 and 2025, enhancing its market presence[58] - The company has a pipeline of generic prescription drugs scheduled for launch, including 2 products in Q1 2024 and 6 products in Q2 2024, among others[65] - Sunshine Biopharma owns 180 Drug Identification Numbers (DINs) for prescription drugs in Canada, secured through in-licenses from international manufacturers[78] - The company has two Natural Product Numbers (NPNs) for its OTC products, Essential 9™ and Essential Calcium-Vitamin D[79] Research and Development - Sunshine Biopharma is developing proprietary drugs, including Adva-27a for pancreatic cancer and K1.1 mRNA for liver cancer, both currently in preclinical stages[66] - The company has filed multiple patent applications, including for a COVID-19 treatment targeting the main protease (Mpro) and the Papain-Like protease (PLpro)[76] - A research agreement with the University of Arizona aims to develop PLpro inhibitors, with an exclusive worldwide license agreement established in February 2023[72] - The company has paused IND-enabling studies of Adva-27a due to unfavorable lab results and is considering chemical modifications[67] - Sunshine Biopharma's research efforts include developing an injectable candidate for PLpro inhibitors to treat COVID-19 in patients unable to use existing antiviral treatments[73] Financial Performance - Sales for the three months ended September 30, 2023, reached $5,957,668, a significant increase of $5,824,860 compared to $132,808 in the same period of 2022[80] - Gross profit for the three months ended September 30, 2023, was $1,990,256, compared to $67,025 for the same period in 2022, reflecting a substantial growth[80] - General and administrative expenses for the three months ended September 30, 2023, were $2,769,730, an increase of $984,725 from $1,785,005 in the same period of 2022[81] - The net loss for the three months ended September 30, 2023, was $651,482 ($0.04 per share), an improvement from a net loss of $1,457,019 ($0.08 per share) in the same period of 2022[82] - Revenues for the nine months ended September 30, 2023, totaled $16,412,586, an increase of $16,006,826 compared to $405,760 in the same period of 2022[83] - Gross profit for the nine months ended September 30, 2023, increased to $5,771,125 from $205,449 in the same period of 2022[83] - General and administrative expenses for the nine months ended September 30, 2023, were $9,369,203, up by $5,526,614 from $3,842,589 in the same period of 2022[84] - The net loss for the nine months ended September 30, 2023, was $3,256,020 ($0.12 per share), compared to a net loss of $3,232,125 ($0.26 per share) in the same period of 2022[85] - As of September 30, 2023, the company had cash or cash equivalents of $18,846,140, with net cash used in operating activities amounting to $6,085,435[86] - The company estimates needing approximately $30 million in additional capital for the expansion of drug development activities and generic pharmaceuticals operations[90]

Table of Contents 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: June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 ...

Table of Contents 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, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission File Number 001-41282 SUNSHINE BIOPHARMA, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

Table of Contents 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: September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ______________ Colorado 20-5566275 6500 Trans-Canada Highway 4th Floor Pointe-Claire, Quebec, Canada H9R 0A5 (Address of principal ex ...

Table of Contents 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: June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ______________ Commission File Number: 001-41282 SUNSHINE BIOPHARMA, INC. (Exact name of registrant as specified in its charter) Colorado ...

Table of Contents 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, 2022 (State of other jurisdiction of incorporation) (IRS Employer ID No.) Colorado 20-5566275 6500 Trans-Canada Highway 4th Floor Pointe-Claire, Quebec, Canada H9R 0A5 (Address of principal executive offices) (514) 426-6161 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF T ...

(Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from ...