Le Lézard
Classified in: Business, Covid-19 virus
Subjects: ERN, PVP

Valeo Pharma Reports its 2020 Second Quarter Results and Initiates $1 Million Debenture Private Placement

MONTREAL, July 2, 2020 /CNW Telbec/ - Valeo Pharma Inc. (CSE: VPH) ("Valeo" or the "Company"), a Canadian specialty pharmaceutical company, today reported its financial results for the second quarter ended April 30, 2020.

"With the recent addition of Ametop and Yondelis, as well as FDA approval of Ethacrynate Sodium, the depth and diversity of our product portfolio continues to grow", said Steve Saviuk, President and Chief Executive Officer.  "Further, we expect approval of Redesca (biosimilar low molecular weight heparin ("LMWH")) in early Fall. LMWHs have long established themselves as an important class of drugs used for the prevention and treatment of blood clots. They are increasingly used to help prevent complications when novel coronavirus (COVID-19) infection is suspected".

Commenting on the second quarter 2020 results, Luc Mainville, Senior Vice-President and Chief Financial Officer said: "We continued to improve our financial performance during the second quarter. We have experienced significant increases in revenues, gross margin,  continued decrease of our net loss and EBITDA loss. The expansion of our commercial portfolio has positively impacted our results and with the launch of the above noted products this summer, we remain committed to achieve EBITDA profitability in 2020 ".

Second Quarter 2020 Financial Highlights

Year to Date 2020 Financial Results

Second Quarter 2020 Business and Product Highlights 

Second Quarter 2020 Subsequent Events

Financial Statements and MD&A

Valeo Pharma's financial statements and Management's Discussion and Analysis for the three-month and six-month periods ended April 30, 2020 are available on SEDAR at www.sedar.com

About Valeo Pharma

Valeo Pharma is a specialty pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada. With a focus on Neurodegenerative Diseases, Oncology and Hospital Specialty Products, Valeo Pharma has a growing portfolio of innovative products and the full infrastructure to properly manage these products through all stages of commercialization. Headquartered in Kirkland, Quebec, Valeo Pharma has all capabilities internally to register and market health care solutions for Canadian patients. For more information, please visit http://www.valeopharma.com and follow us on LinkedIn and Twitter.

Forward-Looking Statements

This news release may contain certain forward-looking statements regarding the Company's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.


SOURCE Valeo Pharma inc.

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News published on 2 july 2020 at 07:00 and distributed by: