Edesa Biotech reports Q1 net loss of $4.4M; Health Canada approves Phase 3 design for EB05

Edesa Biotech, Inc.

Net loss $4.38M ($0.33/share) vs $2.64M ($0.26/share) a year ago; operating expenses up $2.55M.
R&D expenses increased $2.57M to $3.95M, primarily due to external clinical study and drug product costs.
Health Canada approved Phase 3 design of Phase 2/3 study for EB05 as rescue therapy for ARDS.
Phase 2b chronic Allergic Contact Dermatitis study reached enrollment milestone; pace returning to pre-pandemic.
Working capital $8.14M; cash $5.88M; subsequent equity issuance raised ~$1.19M from RBC Capital Markets.

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