ABVC BioPharma Q3 2023 revenue down 62% to $16K; net loss improves 11% to $3.37M

ABVC BIOPHARMA, INC.

2023-Q3 EPS reported -$2.08 revenue$150,265

Q3 2023 revenue $15,884 vs $42,269 in Q3 2022; cash increased to $500K from $85K at year-end 2022.
Net loss narrowed to $3.37M from $3.78M; operating expenses fell 43% to $2.14M.
MDD drug ABV-1504 completes Phase II; licensing deal with Xinnovation worth up to $20M for China rights.
Signed global licensing agreement with AIBL for CNS drugs valued at $667M; ABVC and BioLite to receive 23M AIBL shares at $10/share plus milestones.
Regained Nasdaq minimum bid price compliance; shareholders' equity at $9.1M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ABVC BIOPHARMA, INC. reported third quarter ended September 30, 2023 results: revenue $15,884, net income The net loss was $3,368,080.

Period: third quarter ended September 30, 2023
Revenue: $15,884
Net income: The net loss was $3,368,080
Result: reported results

Exact text from the filing

achieved a total shareholders’ equity of $9.10M and therefore believes it has regained the compliance with NASDAQ’s shareholders’ equity requirement. ● Revenues . We generated $15,884 and $42,269 in revenues for the three months ended September 30, 2023 and 2022, respectively. The decrease in revenues was due to completion of ongoing projects and awaiting new

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Source: SEC EDGAR

accession 0001213900-23-087289

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