Edesa Biotech reports Q1 net loss of $2.33M; FDA Fast Track for ARDS drug

Edesa Biotech, Inc.

Net loss narrowed to $2.33M ($0.13/sh) from $4.38M ($0.33) in prior-year quarter.
Operating expenses down >50% to $2.38M; R&D decreased 66% to $1.36M.
FDA granted Fast Track designation for EB05 (ARDS) after favorable Phase 2 data.
Preliminary Phase 2b results: 1.0% EB01 cream met primary and key secondary endpoints in ACD.
Cash $8.27M; working capital $7.81M; subsequent warrant exercise raised ~$0.77M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Edesa Biotech, Inc. reported the three months ended December 31, 2022 results: net income a net loss of $2.33 million, or $0.13 per common share, EPS $0.13 per common share.

Period: the three months ended December 31, 2022
Net income: a net loss of $2.33 million, or $0.13 per common share
EPS: $0.13 per common share
Result: reported results

Exact text from the filing

For the quarter ended December 31, 2022, Edesa reported a net loss of $2.33 million, or $0.13 per common share

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Edesa Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-001555

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