Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) said it expects revenues in the second quarter to exceed $13.5 million, a quarterly record, with operating expenses seen remaining in line with previous quarters.
In a release ahead of its second-quarter results, the Canadian pharmaceutical company said that based on currently available information, it expects its adjusted loss before interest, taxes, depreciation, and amortization (EBITDA loss) to drop below $2.0 million in the second quarter, marking a sixth consecutive quarter of loss reduction.
"We are displaying continued quarterly revenue growth and overall improvement in our financial performance. Our core products have grown significantly on a year-over-year basis and we see continuing gains ahead,” CEO Steve Saviuk said in a statement.
“We are especially pleased with the increased physician and patient adoption of our innovative asthma therapies which have long growth runways ahead of them.
"Our business development efforts are focused on adding additional core products in the near term to leverage our operational and commercial platform and accelerate our timeline to profitability,” he added further.
The company also said the total number of physicians prescribing ENERZAIR and ATECTURA continued to grow and is expected to exceed 2,000 at the end of April 2023, adding that quarterly revenues for the medicines showed accelerating growth, increasing 270% over the corresponding period last year.
Meanwhile, XIIDRA and SIMBRINZA have delivered their best quarterly sales performance since launch and REDESCA revenues continued to grow on year-over-year, the company added.
Valeo Pharma is dedicated to the commercialization of innovative prescription products in Canada with a focus on Respiratory/Allergy, Ophthalmology and Hospital Specialty Products.
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