Edesa Biotech, Inc. reported financial results for the three and six months ended March 31, 2025, on May 14, 2025. For the three months, total operating expenses decreased by $0.6 million to $1.6 million compared to $2.2 million in the prior year quarter. The net loss for the quarter was $1.6 million, or $0.30 per common share, compared to $1.9 million, or $0.58 per common share, in the prior year quarter.
For the six months ended March 31, 2025, total operating expenses decreased by $0.6 million to $3.5 million from $4.1 million in the prior year period. The net loss for this period was $3.2 million, or $0.74 per common share, compared to $3.5 million, or $1.12 per common share, in the prior year period. Total other income decreased due to lower Canadian government grant income and interest income.
As of March 31, 2025, Edesa's cash and cash equivalents significantly increased to $13.9 million, with working capital at $13.5 million, following the completion of a $15 million equity financing. The company has initiated investigator outreach and manufacturing activities for its EB06 Phase 2 study for vitiligo, anticipating drug manufacturing data submission to the FDA in the second half of calendar 2025 for its IND application. Topline results for the EB06 Phase 2 study are expected within 12 to 18 months following FDA clearance.
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