PharmAla Biotech Holdings Inc. reports significant revenue growth, achieved milestones, and completed financial transactions.

From GlobeNewswire: 2024-12-20 16:55:09

PharmAla Biotech Holdings Inc. announced its financial results for the year ending August 31, 2024, reporting a revenue of over $1.0M, representing a 95% growth year over year. The company also saw an increase in Adjusted EBITDA to ($55,000) compared to ($659,000) in fiscal 2023. PharmAla obtained patents for two novel MDXX molecules during the year. The company ended the year with $419,000 in cash, generated $772,000 in net proceeds, and invested $226,000 in intangible assets. Additionally, PharmAla completed its continuance from British Columbia to Ontario and closed a private placement offering, raising $1,561,719.88.

PharmAla Biotech Holdings Inc. reported significant growth in revenue and achieved major milestones in fiscal 2024. The company completed its continuance from British Columbia to Ontario and closed a private placement offering, raising $1,561,719.88. PharmAla obtained patents for two novel MDXX molecules and ended the year with $419,000 in cash. The company generated $772,000 in net proceeds and invested $226,000 in the development of intangible assets. PharmAla’s revenue grew by 95% year over year, reaching over $1.0M, with an increase in Adjusted EBITDA to ($55,000) compared to ($659,000) in fiscal 2023.



Read more at GlobeNewswire: PharmAla Issues Audited Financial Statements, Completes