Aequus Pharmaceuticals

Aequus Pharmaceuticals

VANCOUVER, British Columbia, Aug. 29, 2022 (GLOBE NEWSWIRE) — Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Company”), a specialty pharmaceutical company with a focus on developing, advancing, and promoting differentiated products, has hired Rabin Ramanjooloo as Director of Operations and today reported financial results for the quarter ended June 30, 2022 (“Second Quarter 2022”) and associated Company developments. Unless otherwise noted, all figures are in Canadian currency.

“We are excited to welcome Rabin Ramanjooloo to executive team, ” says Grant Larsen, Chief Commercial Officer for Aequus. “Mr. Ramanjooloo has an MBA from Athabasca University, international experience in sales, marketing and training in pharmaceuticals, and more recently, specialty eyecare within Canada. His proven sales and launch experience with Canadian Eye Care Professionals will be important to the Company‘s success as we prepare for new product launches in the particular coming months and early 2023. Their diverse background and operational capabilities in sales plus marketing bring expanded opportunities to Aequus as all of us look to attract corporate partners in other specialized areas.

Financial Report Highlights

Aequus documented $346, 494 in promotional services and product sales revenue during Second Quarter 2022 compared to income of $651, 516 generated during the same period within 2021. During the six months ended 06 30, 2022 (“YTD 2022”) Aequus achieved $648, 774 in revenues compared to $1, 143, 337 produced throughout the six months ended June 30, 2021 (“YTD 2021”) – a decrease of $494, 563, or 43%. “The lower income in Q2 are the result of Sandoz paying a lower profit share rate upon Tacrolimus sales”, said Doug Janzen. “As we turn to the second half of the year, we all expect start launches of two SCOPE products, obtain Health Canada approval associated with Zimed plus work in order to expand on the collaboration along with Sandoz to result in meaningful revenue growth. ”

“Our investments in people, training and brand new products will most certainly deliver added revenue within 2023 and the years to come. We are usually optimistic the particular preparations, pending contract renewals and organizational changes we’ve made in recent months, will certainly bring value to our partners plus renewed growth to the organization for years in order to come”, adds Grant Larsen, Chief Commercial Officer.

Net losses increased by 61% in 2nd Quarter 2022 compared to the exact same period last year, with the Second One fourth 2022 net loss of $772, 110 versus the $479, 041 loss in the three months ended Summer 30, 2021 (“Second Quarter 2021”). The loss for YTD 2022 was $1, 688, 996 which is 53% higher than the $1, 100, 700 loss YTD 2021 primarily due to investments within R& D related to Zimed and improved sales and marketing activities. General administration costs were 8% lower in Second Quarter 2022 and 11% lower in YTD 2022 when compared to the same periods last year.

Highlights from the quarter are as follows:

  • Sales plus marketing costs for 2nd Quarter 2022 were $663, 082 in comparison to $523, 929 in Second Quarter 2021, an increase of $139, 153 or even 27%. This surge has been mainly driven by an increase in sales forces activities and new product marketing initiatives.

  • The Company incurred research plus development (“R& D”) expenses of $7, 945 inside Second One fourth 2022 when compared with $106, 395 in Second Quarter 2021. The Organization incurred R& D costs of $254, 052 within YTD 2022 compared to $194, 293 in YTD 2021. The $59, 759 increase in YTD 2022 had been mainly attributable authorization submissions to Health Canada associated with the Zimed product.

  • Common and management (“G& A”) expenses had been $457, 177 in Second Quarter 2022 compared in order to $497, 393 in 2nd Quarter 2021, a decrease of $40, 216. G& A expenses were $933, 005 within YTD 2022 compared to $1, 044, 509 in YTD 2021, a decrease of $111, 504. The particular decrease was mainly powered by reduce costs related to accretion and interest expenditures related in order to the Company’s loans.

ABOUT AEQUUS PHARMACEUTICALS INC.

Aequus Pharmaceutical drugs Inc. (TSX-V: AQS , OTCQB: AQSZF ) is a growing specialty pharmaceutic company focused on developing and commercializing high quality, differentiated items. Aequus has grown its sales plus marketing efforts to include several commercial products in ophthalmology and transplant. Aequus plans to build on its Canadian commercial platform through the particular launch associated with additional products that are either created internally or brought in through an acquisition or license; remaining focused upon highly specialized therapeutic areas. For further information, please visit  www.aequuspharma.ca .

FORWARD-LOOKING STATEMENT DISCLAIMER

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, claims containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential” and similar expressions. Forward- looking statements are necessarily based on estimates plus assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements include but are not limited to claims relating in order to: the implementation in our business model plus strategic plans; revenue development trends into the future; expected timing for product launches; the Company’s expected profits; the regulatory approval of its products; the Company’s ability to attract international partners; and ongoing discussions with and the Company’s capability to secure potential partners to further grow our own product portfolio. Such statements reflect the current views with respect to future events and are subject to risks plus uncertainties and are always based upon a number of estimates and assumptions that, while considered reasonable by Aequus, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual outcomes, performance or even achievements to be materially different from any potential results, performance, or achievements that may be expressed or implied by such forward-looking claims. In making the forward looking statements included in this launch, the Company offers made various material presumptions, including, but not limited in order to: obtaining regulating approvals; general business plus economic conditions; the Company’s ability to successfully out license or sell its present products and in-license and develop new products; the particular assumption that the Company’s current good relationships with third parties will be maintained; the availability of financing upon reasonable terms; the Company’s ability to attract and retain skilled staff; market competition; the particular products plus technology offered by the Company’s competitors; the impact of the coronavirus (COVID-19) on the particular Company’s operations; as well as the Company’s capability to protect patents and proprietary rights. In evaluating forward looking statements, current and prospective shareholders should specifically consider various aspects set out herein and under the heading “Risk Factors” in the Company’s Annual Information Form dated June 30, 2022, a copy of which is available on Aequus’ profile on the SEDAR website at www.sedar.com, and as otherwise disclosed from time to period on Aequus’ SEDAR profile. Should one or more of these risks or uncertainties, or a risk that is not currently known to us all materialize, or should assumptions underlying those forward-looking claims prove incorrect, actual results may vary materially from all those described thus. These forward-looking statements are made as of the date of this release plus we do not intend, and do not assume any obligation, in order to update these forward-looking statements, except while required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees associated with future overall performance and are usually inherently uncertain. Accordingly, investors are informed not to put undue reliance on forward looking claims.

Vistitan™: Trademark owned or even used below license simply by Sandoz North america Inc.

CONTACT INFORMATION
Aequus Investor Relations
Email: [email protected] ca
Phone: 604-336-7906

Leave a Reply

Your email address will not be published.