MISSISSAUGA, ON, May 16, 2024 (GLOBE NEWSWIRE) — BioSyent Inc. (“BioSyent”, TSX Venture: RX) today announced that it has announced that it has completed its three-month period ended March 31, 2024 (first quarter). announced financial results. Key highlights include:
|
(CAD) |
Q1 2024 |
% change vs. |
subsequent 12 months |
% change vs. |
||
|
Canadian pharmaceutical sales |
7,546,144 |
18 |
% |
30,689,349 |
16 |
% |
|
International pharmaceutical sales |
– |
0 |
% |
1,047,747 |
789 |
% |
|
Companywide sales |
7,733,636 |
19 |
% |
32,841,244 |
20 |
% |
|
EBITDA1 |
2,204,193 |
45 |
% |
8,614,037 |
28 |
% |
|
Net income after tax (NIAT) |
1,768,727 |
50 |
% |
7,053,608 |
40 |
% |
|
Fully diluted EPS |
0.15 |
50 |
% |
0.59 |
44 |
% |
-
TTM's return on equity at March 31, 2024 was 21% compared to 15% at March 31, 2023.
-
During the first quarter of 2024, we repurchased a total of 156,200 shares of our common stock for cancellation pursuant to a normal course issuer bid (NCIB).
-
A quarterly cash dividend of $0.045 per common share was paid on March 15, 2024, representing an increase of 12.5% from the previous quarterly dividend.
“Our Canadian pharmaceutical business got off to a fast start in the first quarter of 2024, delivering 18% revenue growth compared to the comparable period,” said René Goehrum, President and CEO of BioSyent. I am. “All of our Canadian pharmaceutical brands contributed to this growth in the quarter. Our three launch brands, FeraMAX® Pd Maintenance 45, Inoforic®gelclair® It also contributed to moderate incremental growth in the first quarter of 2024. We remain focused on continuing to grow our Canadian pharmaceutical business through the remainder of this year with continued sales and promotional investments in our launched brands. We look forward to reporting on our progress in 2024. ”
The CEO's presentation on Q1 2024 results is available at the following link: www.biosyent.com/investors/
The Company's interim unaudited condensed consolidated financial statements and management's discussion and analysis for the three months ended March 31, 2024 and 2023 will be posted on www.sedarplus.ca on May 16, 2024.
For TSX Venture Exchange direct market quotes and other company financial information, please visit www.tmxmoney.com.
About BioSent Inc.
BioSyent, listed on the TSX Venture Exchange under the trading symbol “RX,” is involved in the development, in-licensing or acquisition of innovative pharmaceutical and other healthcare products that are successfully developed, safe and effective. A focused, profitable, growth-oriented specialty pharmaceutical company. A proven track record of improving patient lives. BioSyent supports healthcare professionals treating these patients by marketing its products through its community, specialty and international business units.
As of the date of this press release, the Company has 11,585,169 shares of common stock outstanding.
|
Biocent Co., Ltd. |
||||||
|
Interim Unaudited Condensed Consolidated Statement of Comprehensive Income |
||||||
|
in canadian dollars |
Q1 2024 |
Q1 2023 |
% change |
|||
|
net revenue |
7,733,636 |
6,482,694 |
19% |
|||
|
Cost of sales |
1,589,762 |
1,147,962 |
38% |
|||
|
gross profit |
6,143,874 |
5,334,732 |
15% |
|||
|
Operating expenses and financial income/expenses |
3,737,443 |
3,735,758 |
0% |
|||
|
Net profit before tax |
2,406,431 |
1,598,974 |
50% |
|||
|
Taxes (including deferred taxes) |
637,704 |
423,728 |
50% |
|||
|
Net profit after tax |
1,768,727 |
1,175,246 |
50% |
|||
|
Net profit after tax % of net revenue |
twenty three% |
18% |
||||
|
EBITDA |
2,204,193 |
1,516,634 |
45% |
|||
|
EBITDA % of net revenue |
29% |
twenty three% |
||||
-
EBITDA is a non-IFRS financial measure. The term EBITDA does not have a standardized meaning under International Financial Reporting Standards (IFRS) and may not be comparable to similar measures presented by other companies. We define EBITDA as interest income or earnings before interest income, income taxes, depreciation and amortization.
|
Biocent Co., Ltd. |
||||||
|
Interim Unaudited Condensed Consolidated Statement of Financial Position |
||||||
|
as is |
March 31, 2024 |
December 31, 2023 |
% change |
|||
|
assets |
||||||
|
Cash, cash equivalents and short-term investments |
$ |
23,687,796 |
$ |
26,187,011 |
-Ten |
% |
|
Trade and other receivables |
2,791,794 |
3,477,096 |
-20 |
% |
||
|
stock |
5,718,882 |
5,894,495 |
-3 |
% |
||
|
derivative assets |
11,550 |
– |
100 |
% |
||
|
Upfront costs and security deposit |
569,144 |
243,460 |
134 |
% |
||
|
Loans – Current |
73,452 |
69,419 |
6 |
% |
||
|
current assets |
32,852,618 |
35,871,481 |
-8 |
% |
||
|
long term investment |
4,106,547 |
2,500,000 |
64 |
% |
||
|
Loans – non-current |
205,182 |
205,182 |
0 |
% |
||
|
Deferred tax asset |
343,607 |
359,470 |
-Four |
% |
||
|
property and equipment |
1,373,868 |
1,439,930 |
-Five |
% |
||
|
intangible assets |
1,114,612 |
1,152,876 |
-3 |
% |
||
|
Total non-current assets |
7,143,816 |
5,657,458 |
26 |
% |
||
|
Total assets |
$ |
39,996,434 |
$ |
41,528,939 |
-Four |
% |
|
Debt and equity |
||||||
|
current debt |
$ |
4,256,689 |
$ |
5,533,850 |
-twenty three |
% |
|
non-current liabilities |
1,187,820 |
1,235,333 |
-Four |
% |
||
|
long term debt |
– |
– |
0 |
% |
||
|
total capital |
34,551,925 |
34,759,756 |
-1 |
% |
||
|
Total debt and total stockholders' equity |
$ |
39,996,434 |
$ |
41,528,939 |
-Four |
% |
For more information, please contact us below.
Mr. Rene C. Gerum
Representative Director and President
Biocent Co., Ltd.
Email: investors@biosyent.com
Phone: 905-206-0013
Website: www.biosyent.com
This press release may contain forward-looking information and statements. The information contained herein represents the Company's judgment as of the date hereof and is subject to risks and uncertainties that could cause actual results or results to differ materially from any forward-looking information or statements. receive. Potential risks include, but are not limited to, risks related to clinical trials, product development, future revenues, operations, profitability and obtaining regulatory approvals. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of his TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
