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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Biosyent Inc | TSXV:RX | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.10 | 1.00% | 10.10 | 9.91 | 10.19 | 10.10 | 9.90 | 10.00 | 3,200 | 17:43:44 |
“We recorded double-digit sales growth overall in Q1 2021 thanks to continued growth in our Canadian pharmaceutical business and the shipment during the quarter of our largest single international pharmaceutical order to date,” commented Mr. René Goehrum, President and CEO of BioSyent. “Due in part to the incremental sales generated by our new products Tibella® and Combogesic®, our Canadian pharmaceutical business delivered 5% growth against a particularly strong Q1 2020 during which we experienced a short-term surge in demand for certain products at the outset of the COVID-19 pandemic in Canada. For reference, in Q1 2020 our Canadian pharmaceutical business showed 39% revenue growth versus the comparable quarter in the prior year. Our Canadian pharmaceutical business has shown remarkable resilience over the last year operating in a COVID-19 environment. Q1 2021 marked our 43rd consecutive profitable quarter, with a 22% net profit margin, even as we continued to invest in our launch-stage products. As we look to emerge from the third wave of COVID-19 in Canada, we hope to have improved access to our customers moving forward.”
The CEO’s presentation on the Q1 2021 Results is available at the following link: www.biosyent.com/q1-21/.
The Company’s Interim Unaudited Condensed Consolidated Financial Statements and Management's Discussion and Analysis for the three months ended March 31, 2021 and 2020 will be posted on www.sedar.com on May 27, 2021.
Q1 2021 Interim Financial Statements PDF available at: http://ml.globenewswire.com/Resource/Download/5be8c629-c858-4327-9f4f-ef92bc648df1
Q1 2021 MD&A PDF available at: http://ml.globenewswire.com/Resource/Download/b090185f-4c00-4cd9-b302-d6fef42e01c7
For a direct market quote for the TSX Venture Exchange and other Company financial information, please visit www.tmxmoney.com.
About BioSyent Inc.
Listed on the TSX Venture Exchange under the trading symbol “RX”, BioSyent is a profitable growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring innovative pharmaceutical and other healthcare products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, specialty and international business units.
As of the date of this press release, the Company has 12,702,375 common shares outstanding.
BioSyent Inc. | ||||||
Interim Unaudited Condensed Consolidated Statements of Comprehensive Income | ||||||
In Canadian Dollars | Q1 2021 | Q1 2020 | % Change | |||
Net Revenues | 7,419,889 | 6,062,846 | 22 | % | ||
Cost of Goods Sold | 1,563,894 | 1,261,103 | 24 | % | ||
Gross Profit | 5,855,995 | 4,801,743 | 22 | % | ||
Operating Expenses and Finance Income/Costs | 3,602,281 | 2,866,385 | 26 | % | ||
Net Income Before Tax | 2,253,714 | 1,935,358 | 16 | % | ||
Tax (including Deferred Tax) | 589,346 | 483,840 | 22 | % | ||
Net Income After Tax | 1,664,368 | 1,451,518 | 15 | % | ||
Net Income After Tax % to Net Revenues | 22 | % | 24 | % | ||
EBITDA | 2,359,085 | 1,997,987 | 18 | % | ||
EBITDA % to Net Revenues | 32 | % | 33 | % |
BioSyent Inc. | ||||||
Interim Unaudited Condensed Consolidated Statements of Financial Position | ||||||
AS AT | March 31, 2021 | December 31, 2020 | % Change | |||
ASSETS | ||||||
Cash, cash equivalents and short term investments | $ | 24,024,252 | $ | 25,577,706 | -6 | % |
Trade and other receivables | 2,393,207 | 1,815,015 | 32 | % | ||
Inventory | 2,706,144 | 2,073,561 | 31 | % | ||
Prepaid expenses and deposits | 426,816 | 307,599 | 100 | % | ||
CURRENT ASSETS | 29,550,419 | 29,773,881 | -1 | % | ||
Property and equipment | 2,090,447 | 2,161,698 | -3 | % | ||
Intangible assets | 965,319 | 1,007,822 | -4 | % | ||
Loans receivable | 598,805 | 597,332 | 0 | % | ||
Deferred tax asset | 45,445 | 30,481 | 49 | % | ||
TOTAL NON CURRENT ASSETS | 3,700,016 | 3,797,333 | -3 | % | ||
TOTAL ASSETS | $ | 33,250,435 | $ | 33,571,214 | -1 | % |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||
CURRENT LIABILITIES | $ | 3,892,157 | $ | 5,138,674 | -24 | % |
NON CURRENT LIABILITIES | 1,609,571 | 1,636,584 | -2 | % | ||
Long term debt | - | - | 0 | % | ||
Total Equity | 27,748,707 | 26,795,956 | 4 | % | ||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 33,250,435 | $ | 33,571,214 | -1 | % |
For further information please contact:
Mr. René C. GoehrumPresident and CEOBioSyent Inc.E-Mail: investors@biosyent.comPhone: 905-206-0013Web: www.biosyent.com
This press release may contain information or statements that are forward-looking. The contents herein represent our judgment, as at the release date, and are subject to risks and uncertainties that may cause actual results or outcomes to be materially different from the forward-looking information or statements. Potential risks may include, but are not limited to, those associated with clinical trials, product development, future revenue, operations, profitability and obtaining regulatory approvals.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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