Edesa Biotech(EDSA) - 2024 Q4 - Annual Results

Financial Performance - Edesa Biotech reported a net loss of $6.2 million, or$1.93 per common share, for the fiscal year ended September 30, 2024, compared to a net loss of $8.4 million, or$2.93 per common share, for the previous year[8]. - Total operating expenses decreased by $2.2 million to$7.0 million for the year ended September 30, 2024, down from $9.2 million in the prior year, reflecting a more than 20$1.9 million to $2.9 million for the year ended September 30, 2024, primarily due to reduced external research expenses and lower labor costs[6]. - Edesa's general and administrative expenses decreased by$0.3 million to $4.1 million for the year ended September 30, 2024, compared to$4.4 million in the prior year[7]. - Total other income remained unchanged at $0.8 million for the years ended September 30, 2024, and September 30, 2023[8]. Cash Position - Edesa's cash and cash equivalents stood at$1.0 million with negative working capital of $0.2 million as of September 30, 2024[9]. - The company received$1.5 million in gross proceeds under a securities purchase agreement after the fiscal year end[9]. Future Plans - The company anticipates topline results for its Phase 2 study could be available within 12 to 18 months following regulatory clearance in the U.S.[4]. - Edesa plans to manufacture EB06 and submit related data to the U.S. FDA as part of an investigational new drug application[4]. - Edesa has received two government funding awards to support the advancement of its anti-TLR4 technology, improving its position for future financing[5].