Revenue falls 55% to $7.9M, net loss $6.5M; auditor Baker Tilly declines reappointment

Emmaus Life Sciences, Inc.

Net revenue for H1 2024 was $7.9M, down 55% from $17.5M in H1 2023, due to inventory shortages.
Net loss of $6.5M ($0.10/sh) vs $5.0M ($0.10/sh) in prior year; operating loss $2.2M vs income $2.2M.
Cash at June 30, 2024: $1.5M, down from $2.5M at Dec 31, 2023.
CEO says full-year revenue unlikely to match 2023; generic L-Glutamine launch poses risk to Endari.
Auditor Baker Tilly notified Sept 5, 2024 it will not stand for reappointment; no disagreements but prior reports include going concern note.

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