From GlobeNewswire: 2025-02-14 16:15:00

Edesa Biotech, Inc. reported financial results for the three months ended December 31, 2024, focusing on advancing EB06 for vitiligo treatment. The company plans to submit data to the FDA in mid-2025 for a Phase 2 study, with results expected within 12-18 months. Financially, Edesa raised $15.0 million in gross proceeds, positioning them well for future development.

For the quarter ended December 31, 2024, Edesa reported total operating expenses of $1.9 million, with research and development expenses increasing to $1.0 million. General and administrative expenses decreased to $0.9 million. Total other income increased to $281,000, with a net loss of $1.6 million reported.

As of December 31, 2024, Edesa had cash and cash equivalents of $1.6 million and working capital of $0.2 million. The company received $15.0 million in gross proceeds from a private placement of preferred and common shares after the quarter end, further supporting their financial position.

Edesa plans to participate in key industry events in 2025, including the American Academy of Dermatology Annual Meeting and BIO Europe Spring. Their focus remains on developing innovative treatments for inflammatory and immune-related diseases, with a pipeline that includes therapies for vitiligo and respiratory conditions.

Overall, Edesa Biotech is actively working towards advancing their vitiligo program, with a strong financial position to support their goals. The company’s commitment to developing targeted immunotherapies and participation in industry events highlights their dedication to providing safe and efficacious treatments for patients worldwide.



Read more at GlobeNewswire:: Edesa Biotech Reports Fiscal 1st Quarter 2025 Results