Full Press Release Details
SUNSHINE BIOPHARMA REPORTS 2024 THIRD QUARTER
YEAR-TO-DATE REVENUES UP 54%
FORT LAUDERDALE, FL / ACCESSWIRE / November 6,
2024 / Sunshine Biopharma Inc. (NASDAQ: "SBFM") (the "Company"), a pharmaceutical company offering and researching
life-saving medicines in a variety of therapeutic areas including oncology and antivirals today announced that it has filed its 2024 third
quarter report with the Securities and Exchange Commission. The Company reported gross revenues of $8,435,178 for the three months ended
September 30, 2024, a 42% increase over gross revenues of $5,957,668 for same period in 2023. For the nine-month period ended September
30, 2024, gross revenues were $25,279,291, compared to gross revenue of $16,412,586 for the same period in 2023, an increase of 54%. These
increases were a result of new product launches and expanded marketing and sales efforts by the Company's wholly owned Canadian
subsidiary, Nora Pharma Inc.
The following are highlights of the Company's
2024 third quarter results:
The following are highlights of the Company's
2024 year-to-date (YTD) results:
"At Sunshine Biopharma, we are relentlessly
pursuing profitability," expressed Dr. Steve Slilaty, CEO. "Our dedicated team is implementing cutting-edge strategies and enhancing
our operations to foster sustainable growth. We are unwavering in our commitment to delivering value to our stakeholders, and we firmly
believe our hard work will pave the way for success."
The following are key metrics contained in the
Company's Statement of Operations for the three- and nine-month periods ended September 30, 2024:
| 2024Q3 | 2023Q3 | 2024YTD | 2023YTD | |||||||||||||
| Sales | $ | 8,435,178 | $ | 5,957,668 | $ | 25,279,291 | $ | 16,412,586 | ||||||||
| Gross Profit | $ | 2,866,151 | $ | 1,990,256 | $ | 7,576,745 | $ | 5,771,125 | ||||||||
| General & Administrative Expenses | $ | 3,972,504 | $ | 2,769,730 | $ | 11,351,144 | $ | 9,369,203 | ||||||||
| Net Loss | $ | (1,197,803 | ) | $ | (651,482 | ) | $ | (2,975,904 | ) | $ | (3,256,020 | ) |
About Sunshine Biopharma Inc.
Sunshine Biopharma currently has 63 generic prescription
drugs on the market in Canada and 32 additional drugs scheduled to be launched in the remainder of 2024 and in 2025. Among the new drugs
to be launched in 2024 is NIOPEG , a biosimilar of NEULASTA . Like NEULASTA , NIOPEG is a long-acting form of recombinant
human granulocyte colony-stimulating factor (filgrastim). It is indicated to decrease the incidence of infection in patients with non-myeloid
malignancies receiving anti-neoplastic therapy.
In addition, Sunshine Biopharma is conducting
a proprietary drug development program which is comprised of (i) K1.1 mRNA, an mRNA-Lipid Nanoparticle targeted for liver cancer, and
(ii) PLpro protease inhibitor, a small molecule for treatment of SARS Coronavirus infections. For more information, please visit: www.sunshinebiopharma.com.
Safe Harbor Forward-Looking Statements
This press release contains forward-looking
statements which are based on current expectations, forecasts, and assumptions of Sunshine Biopharma, Inc. (the "Company")
that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or
expected. These statements appear in this release and include all statements that are not statements of historical fact regarding the
intent, belief or current expectations of the Company, including statements related to the Company's drug development activities,
financial performance, and future growth. These risks and uncertainties are further described in filings and reports by the Company with
the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those
projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in the Company's
filings with the SEC. Reference is hereby made to cautionary statements and risk factors set forth in the Company's most recent
For Additional Information:
Sunshine Biopharma Contact:
Camille Sebaaly, CFO