ABVC BioPharma FY2023 revenue falls 84% to $152K; net loss narrows to $10.9M

ABVC BIOPHARMA, INC.

Revenue of $152,430 in FY2023, down from $969,783 in FY2022; net loss improved 31% to $10.9M.
Operating expenses cut to $8.07M from $15.8M; cash and cash equivalents only $60K as of Dec 31, 2023.
Entered global licensing agreement with AIBL for CNS drugs; received 23M AIBL shares valued at $10 per share.
Regained Nasdaq compliance for $1.00 bid price and $2.5M stockholders' equity requirements in Aug/Sep 2023.
Stockholders' equity of $8.39M at year-end; raised $1.75M via registered direct offering in July 2023.

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 financial results for the fiscal year ended December 31, 2023.

Period: the fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

ABVC BioPharma, Inc. (NASDAQ: ABVC) (“Company”), a biotechnology company specializing in botanically based solutions that deliver high efficacy and low toxicity to improve health outcomes, announced its 2023 annual financial and operating results.

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Source: SEC EDGAR

accession 0001213900-24-022396

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