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Edesa Biotech(EDSA) - 2025 Q1 - Quarterly Results
EDSAEdesa Biotech(EDSA)2025-02-14 21:25

Financial Performance - Edesa Biotech reported a net loss of 1.6million,or1.6 million, or 0.48 per common share, for the first quarter of fiscal year 2025, compared to a net loss of 1.7million,or1.7 million, or 0.54 per common share, for the same period last year[6]. - Total operating expenses remained unchanged at 1.9millionforthethreemonthsendedDecember31,2024,comparedtothesameperiodin2023[5].−Totalotherincomeincreasedby1.9 million for the three months ended December 31, 2024, compared to the same period in 2023[5]. - Total other income increased by 102,000 to 281,000forthethreemonthsendedDecember31,2024,primarilyduetoincreasedreimbursementfundingfromtheCanadiangovernment′sStrategicInnovationFund[5].−CashandcashequivalentsatDecember31,2024,were281,000 for the three months ended December 31, 2024, primarily due to increased reimbursement funding from the Canadian government's Strategic Innovation Fund[5]. - Cash and cash equivalents at December 31, 2024, were 1.6 million, up from 1.0millionattheendofthepreviousquarter[7].−Edesa′stotalassetsincreasedto1.0 million at the end of the previous quarter[7]. - Edesa's total assets increased to 4.16 million as of December 31, 2024, compared to 3.81millionattheendofthepreviousquarter[15].ResearchandDevelopment−Researchanddevelopmentexpensesincreasedby3.81 million at the end of the previous quarter[15]. Research and Development - Research and development expenses increased by 0.3 million to 1.0millionforthethreemonthsendedDecember31,2024,primarilyduetoincreasedexternalresearchexpensesrelatedtodrugmanufacturing[7].−ThecompanyanticipatessubmittingdatatotheFDAforitsanti−CXCL10monoclonalantibodycandidate,EB06,inmid−2025,withtoplineresultsexpectedwithin12to18monthspost−regulatoryclearance[3].OperationalChanges−Generalandadministrativeexpensesdecreasedby1.0 million for the three months ended December 31, 2024, primarily due to increased external research expenses related to drug manufacturing[7]. - The company anticipates submitting data to the FDA for its anti-CXCL10 monoclonal antibody candidate, EB06, in mid-2025, with topline results expected within 12 to 18 months post-regulatory clearance[3]. Operational Changes - General and administrative expenses decreased by 0.3 million to 0.9millionforthethreemonthsendedDecember31,2024,duetoreductionsinsalariesandrelatedcosts[7].−Edesaraised0.9 million for the three months ended December 31, 2024, due to reductions in salaries and related costs[7]. - Edesa raised 15.0 million in gross proceeds from an equity financing, strengthening its balance sheet to support the advancement of its vitiligo program[4]. Market Engagement - The company plans to participate in several upcoming conferences, including the American Academy of Dermatology Annual Meeting and BIO Europe Spring 2025, to further its market presence[9].