Edesa Biotech FY2023 net loss $8.4M ($2.93/sh); secures C$23M govt funding for Phase 3 ARDS trial

Edesa Biotech, Inc.

Net loss narrowed to $8.4M ($2.93 per share) from $17.6M ($8.37) in FY2022; R&D expenses fell to $4.8M from $13.3M.
Canadian government committed up to C$23M (partially repayable) for Phase 3 study of ARDS drug EB05 (paridiprubart); FDA Fast Track granted.
Established $10M revolving credit facility; cash and equivalents $5.4M at Sept 30, 2023, with $0.3M raised post-year-end via equity distribution.
Plans to initiate Phase 2 trial for vitiligo drug EB06 (anti-CXCL10) and file IND for fibrotic diseases; evaluating partnership for dermatitis drug EB01 after positive Phase 2b.
Management to present at Dermatology Summit and JP Morgan week in January 2024.

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 fiscal year ended September 30, 2023 results: net income net loss of $8.4 million, EPS $2.93 per common share.

Period: fiscal year ended September 30, 2023
Net income: net loss of $8.4 million
EPS: $2.93 per common share
Result: reported results

Exact text from the filing

For the year ended September 30, 2023, Edesa reported a net loss of $8.4 million, or $2.93 per common share, compared to a net loss of $17.6 million, or $8.37 per common share, for the year ended September 30, 2022.

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Edesa Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-015629

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