- Aequus Pharmaceuticals has announced strong financial results for the 2020 fiscal year as well as promising operating developments
- There was an increase of 59 per cent in revenue, as well as a 66 per cent loss reduction, in 2020 compared to year-end 2019
- The company also reported several key operational highlights from the year, including the recent launch of the Evolve and Reviveproducts
- Aequus is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products
- Aequus Pharmaceuticals (AQS) is down 2.63 per cent and is currently trading at $0.185 per share
Aequus Pharmaceuticals has announced strong financial results for the 2020 fiscal year as well as promising operating developments.
There was an increase of 59 per cent in revenue, as well as a 66 per cent loss reduction, in 2020 compared to year-end 2019.
Doug Janzen, Chairman and CEO of Aequus, commented on the record results.
“I am very pleased with our performance in 2020. We have dramatically narrowed our operating losses and continue to close in on our goal of reaching operational break-even,” he said.
The company also reported several key operational highlights from the year.
Mr. Janzen commented,
“With the recent launch of the Evolve and Reviveproducts our focus remains on commercial execution while expanding our existing partnerships to include the acquisition of new products for our growing pipeline.”
In January 2020, Aequus filed for provincial reimbursement in both Quebec and British Columbia for its lead product, Vistitan.
This additional coverage would advance sales in Canadian markets and would increase the percentage of total revenue that Aequus receives from its partner Sandoz.
The record year that Aequus has reported was achieved in spite of challenges brought on by the global pandemic.
Grant Larsen, Chief Commercial Officer with Aequus, commented on the way the company handled the COVID-19 pandemic in 2020.
“Our accelerated ability to adapt to market conditions, and implement digital technology with a scalable platform of assets, is expected to attract international partners looking for rapid access to the Canadian marketplace,” he said.
The company’s focus is on expanding its product offerings in key strategic areas as well as expanding established partnerships with Sandoz and Medicom.
Aequus is a growing specialty pharmaceutical company focused on developing and commercializing high-quality, differentiated products.
Aequus Pharmaceuticals (AQS) is down 2.63 per cent and is trading at $0.185 per share as of 1:38 pm ET.
