Business
Medicure Reports Financial Results for Quarter Ended September 30, 2023
WINNIPEG, MB / ACCESSWIRE / November 21, 2023 / Medicure Inc. (" Medicure " or the " Company ") ...
About this update from Medicure Inc.
[{"type":"text","content":"Medicure Reports Financial Results for Quarter Ended September 30, 2023WINNIPEG, MB / ACCESSWIRE / November 21, 2023 / Medicure Inc. (\"Medicure\" or the \"Company\") (TSXV:MPH)(OTC PINK:MCUJF), a company focused on the development and commercialization of pharmaceuticals and healthcare products for patients and prescribers in the United States market, today reported its results from operations for the quarter ended September 30, 2023.Quarter Ended September 30, 2023 Highlights:Recorded total net revenue of $5.0 million during the quarter ended September 30, 2023 compared to $5.3 million for the quarter ended September 30, 2022 and;Recorded total net revenue from the sale of AGGRASTAT® of $2.4 million during the quarter ended September 30, 2023 compared to $3.0 million for the quarter ended September 30, 2022 and;Recorded total net revenue from the Marley Drug business of $2.2 million ($670,000 from sales of ZYPITAMAG® , and $1.53 million from other pharmacy revenue) during the quarter ended September 30, 2023 compared to $1.8 million ($430,000 from sales of ZYPITAMAG® and $1.37 million from other pharmacy revenue) for the quarter ended September 30, 2022 and;Recorded net revenue through insured business from the sale of ZYPITAMAG®of $398,000 during the quarter ended September 30, 2023 compared to $434,000 through insured business for the quarter ended September 30, 2022.Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA1) for the quarter ended September 30, 2023 was $429,000 compared to adjusted EBITDA of $1.4 million for the quarter ended September 30, 2022 and;Net income for the quarter ended September 30, 2023 was $84,000 or $0.01 per share compared to net income of $1.1 million or $0.11 per share for the quarter ended September 30, 2022.R&D expenses for the quarter ended September 30, 2023 were $508,000, and the company remains committed to the completion of the PNPO deficiency Phase 3 clinical trial.The Company remains cash flow positive and carries no debt on its balance sheet.Financial ResultsNet AGGRASTAT® product sales for the three month period ended September 30, 2023, were $2.4 million compared to $3.0 million during the three month period ended September 30, 2022. The decrease in AGGRASTAT® revenues from the prior year when compared to the previous year...