ABVC BioPharma FY2022 revenue $970K (+173%) but net loss widens to $16.3M

ABVC BIOPHARMA, INC.

2023-Q1 EPS reported -$0.06 vs consensus -$0.51 ▲ beat (+88.2%)

Revenue $969,783 (up 173% from $355,797) driven by contract services with Rgene.
Net loss $16.3M vs $12.0M in 2021; operating expenses $15.8M (up $3.7M).
Cash dropped to $85K from $5.8M; working deficit of $2.8M.
Pipeline: Vitargus Phase II expected completion end of 2023; ABV-1505 ADHD enrollment ongoing.
ABV-1601 Phase I at Cedars-Sinai initiated; ABV-1504 MDD meeting with FDA for Phase III.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ABVC BIOPHARMA, INC. reported the fiscal year ended December 31, 2022 results: revenue $969,783, net income $16,312,374.

Period: the fiscal year ended December 31, 2022
Revenue: $969,783
Net income: $16,312,374
Result: reported results

Exact text from the filing

and operating results for the fiscal year ended December 31, 2022. Full Year 2022 Financial Results All comparisons are made on a year-over-year basis. ● Revenues . We generated $969,783 and $355,797 in revenues for the years ended December 31, 2022 and 2021, respectively. The increase of $613,986, or approximately 173%, was primarily caused by the increase in

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Source: SEC EDGAR

accession 0001213900-23-025698

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