Business
Valeo Pharma Reports its Third Quarter 2020 Results and Highlights
Valeo Pharma Reports its Third Quarter 2020 Results and Highlights.
About this update from Valeo Pharma Inc.
[{"type":"text","content":"\n\n\n\nValeo Pharma Reports its Third Quarter 2020 Results and Highlights\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nValeo Pharma Reports its Third Quarter 2020 Results and Highlights\nCanada NewsWire\nMONTREAL, Sept. 29, 2020\n\n\n\n$6.9 million bought deal offering with full exercice of over-allotment option$1.7 million oversubscribed non-convertible debenture non-brokered private placement4 new products added to our commercial pipelineQ3 net revenues of $1.5 million, YTD 2020 net revenues of $5.3 million MONTREAL, Sept. 29, 2020 /CNW/ - Valeo Pharma Inc. (CSE: VPH) (OTCQB: VPHIF) (FSE: VP2) (\"Valeo\" or the \"Company\"), a Canadian specialty pharmaceutical company, today reported its financial results for the third quarter ended July 31, 2020.\n\n \n \n \n \n \n \n\n \n\"Our third quarter revenues were impacted to some extent by the restrictions brought upon by Covid-19 as well as the impact from adjustments relating to prior periods. We are seeing revenues returning to an uptrend with the recent launch of Ametop™ in the last few weeks of the quarter and the launch of Yondelis® at the beginning of the fourth quarter, together representing 13% of our fourth quarter sales to date. HesperCo™ and Ethacrynate Sodium (U.S.) are scheduled to launch in the fourth quarter driving revenues and profitability going forward\", said Steve Saviuk, President and Chief Executive Officer. \"We have high expectations for HesperCo™, which will be launched nationally in the coming weeks, as the immune support it provides is needed in the current healthcare environment. We continue interacting with Health Canada in the review of Redesca ( Low Molecular Weight Heparin biosimilar) and are preparing for an early 2021 launch pending its expected approval \".\nCommenting on the third quarter 2020 results, Luc Mainville, Senior Vice-President and Chief Financial Officer said, \"During the quarter, we continued to set the stage for exiting FY-20 as a profitable EBITDA company. While revenues will be favourably impacted in the short and medium term through our pr...