Skin drug developer Edesa Biotech's FY net loss widens to $7.2 mln

Reuters12-13

Skin drug developer <a href="https://laohu8.com/S/EDSA">Edesa Biotech</a>'s FY net loss widens to $7.2 mln

Overview

Canada biopharma firm's fiscal yr net loss widens to $7.2 mln
Operating expenses for fiscal yr rose to $7.9 mln

Outlook

Edesa aims to secure non-dilutive funding and collaborative arrangements

Result Drivers

VITILIGO PROGRAM EXPENSES - Increased R&D expenses due to manufacturing activities for Phase 2 study of EB06 for vitiligo
R&D EXPENSES - Research and development expenses increased by $0.8 million to $3.7 million

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
FY EPS		-$1.27
FY Net Income		-$7.20 mln
FY Operating Expenses		$7.90 mln

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Edesa Biotech Inc is $9.00, about 408.5% above its December 11 closing price of $1.77

Press Release: ID:nGNX9c4cJ8

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. 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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. 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