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M Pharmaceutical's transformation continues apace

Third quarter results were largely academic, as the pre-revenue company is still in a transitional stage.

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M Pharmaceutical's target markets are enormous and growing

Pre-revenue diabetes and obesity specialist M Pharmaceutical's (CNSX:MQ, OTCMKTS:MPHMF) third quarter results showed the signs of the company's vigorous transformation.

It is less than a year since the former First Sahara Energy changed tack to focus on the pharmaceutical and biomedical device markets, with a particular onus on tackling diabetes, obesity and other gastroenterological indications, and the company certainly has not let the grass grow under its feet, signing a succession of deals.

The need to do all that due diligence is reflected in consulting fees in the third quarter, which rose to C$434,590 from C$107,789 the year before, which was a major factor in the loss before exceptional items widening to C$599,731 from C$205,348 a year earlier.

The company also took a paper-based loss of C$132,307 on a change in the fair value of its investments.

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