--------------- -----------------
Expenses:
Research and development $ 2,881,967 $ 4,794,549
General and administrative 4,132,777 4,428,209
---------- ----------
Loss from operations (7,014,744) (9,222,758)
Other Income (Loss):
Reimbursement grant income 698,277 581,039
Other income (loss) 147,222 268,104
Income tax expense 800 800
---------- ----------
Net loss (6,170,045) (8,374,415)
Exchange differences on translation (27,965) (1,046)
---------- ----------
Net comprehensive loss $ (6,198,010) $ (8,375,461)
========== ==========
Weighted average number of common
shares 3,197,423 2,858,929
Loss per common share - basic and
diluted $ (1.93) $ (2.93)
---------- ----------
Consolidated Balance Sheets
September 30, September 30,
2024 2023
--------------- ---------------
Assets:
Cash and cash equivalents $ 1,037,320 $ 5,361,397
Other current assets 638,302 1,075,455
Non-current assets 2,138,360 2,453,585
----------- -----------
Total Assets $ 3,813,982 $ 8,890,437
=========== ===========
Liabilities and shareholders' equity:
Current liabilities $ 1,832,827 $ 1,821,864
Non-current liabilities - 19,773
Shareholders' equity 1,981,155 7,048,800
----------- -----------
Total liabilities and shareholders'
equity $ 3,813,982 $ 8,890,437
=========== ===========
Consolidated Statements of Cash Flows
Years Ended
----------------------------------
September 30, September 30,
2024 2023
--------------- -----------------
Cash flows from operating activities:
Net loss $ (6,170,045) $ (8,374,415)
Adjustments for non-cash items 708,775 1,429,928
Change in working capital items 571,065 308,004
---------- ----------
Net cash used in operating activities (4,890,205) (6,636,483)
Net cash provided by financing
activities 592,031 4,830,111
Effect of exchange rate changes on
cash and cash equivalents (25,903) 76,850
---------- ----------
Net change in cash and cash
equivalents (4,324,077) (1,729,522)
Cash and cash equivalents, beginning
of year 5,361,397 7,090,919
---------- ----------
Cash and cash equivalents, end of year $ 1,037,320 $ 5,361,397
========== ==========
Contact:
Gary Koppenjan
Edesa Biotech, Inc.
(289) 800-9600
investors@edesabiotech.com
(END) Dow Jones Newswires
December 13, 2024 16:30 ET (21:30 GMT)
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