Groupe Athena, Inc. (Pink sheets GATA.PK) today announced revenues of $22,672,908 for the period ending September 30, 2015, which represents an increase of $2,490,946 over the same period in 2014. Gross income before depreciation, amortization and taxes was $1,485,704 and reflects a Research and Development charge of $2,116,729.
Cash reserves in the form of short term investments and deposits remain strong and the Company is confident they will continue to fund any ongoing R&D expense from revenues.
In related news the Company is
extremely pleased to report that research and development of their
manufacturing processes for Atorvastatin is progressing well. During the quarter, the company continued its Pharmacokinetic
(PK) modeling as part of its preclinical studies in its continuing efforts to
start production of Atorvastatin Calcium.
Pharmacokinetic modeling is a mathematical technique for predicting the effect
and efficacy of drug dosing over time. Broadly speaking, pharmacokinetic models
describe how the body reacts to a drug in terms of absorption, distribution,
metabolism, and excretion.
The Indian pharmaceutical
industry is increasingly focusing on exports to the
About Groupe Athena, Inc.
Groupe
Athena, Inc. was incorporated in June
2008 and began operations on July 1 of that year. The company is a research and testing
organization and helps various pharmaceutical and medical products and devices
companies in
The company has a research and
marketing facility in
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For more information contact:
Groupe Athena, Inc.
info@groupeathena.com
Certain statements set forth in this press release constitute "forward-looking statements.” Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.