Action required: Please refresh your browser
We have recently implemented some changes that require a hard refresh of your browser: Please hold down the CTRL-key and press the F5 key.
After a successful hard refresh, this message should not appear anymore.
More details about this topic are available here »
VALEO PHARMA REPORTS FIRST QUARTER 2024 RESULTS | ||
By: PR Newswire Association LLC. - 14 Mar 2024 | Back to overview list |
|
MONTREAL, March 14, 2024 /CNW/ - Valeo Pharma Inc. (TSX: VPH) (OTCQB: VPHIF) (FSE: VP2) ("Valeo" or the "Company"), a Canadian pharmaceutical company, today reported its financial results for the first quarter ended January 31, 2024. First quarter 2024 Results & Highlights:
"Valeo has returned to its revenue growth trend in Q1-2024. Our respiratory business unit has continued to perform strongly with asthma product revenues increasing 58% in Q1-2024 vs Q4-2023, this was offset in part by lower ophthalmology revenues associated to the winddown of our promotional activities for Xiidra ", said Steve Saviuk, CEO. "We expect that our major promoted brands, Enerzair, Simbrinza and Redesca will provide an increasing share of our revenue growth in the coming quarters and greater margin contribution. Valeo has embarked on a number of initiatives as it drives towards positive cashflow with our previously announced operational cost savings having greater impact from Q2-24 onwards". Commenting on the first quarter 2024 results, Pascal Tougas, Valeo's Chief Financial Officer, said, "Despite the negative impact of further inventory write-offs endured in Q1-24, our quarterly financial performance is only starting to demonstrate the benefits associated with the cost reduction, organizational realignment measures and relentless focus on execution implemented in late 2023 and in Q1-24. Our operating margins and adjusted EBITDA loss have started improving with the bulk of the operating expenses reduction measures benefits expected to materialize starting in the second quarter and ramping up sequentially throughout the remainder of 2024.'' First Quarter 2024 Financial Results
First Quarter 2024 Highlights
First Quarter 2024 Subsequent Events
First Quarter 2024 Webcast and Conference Call Valeo will host a conference call to discuss its first quarter 2024 results and highlights on Friday March 15, 2024, at 8.30 am (ET). The telephone numbers to access the conference call are 416-764-8659 and 1-888-664-6392. An audio replay of the call will be available. The numbers to access the audio replay are 416-764-8677 and 1-888-390-0541 using the following access code (767002 #). A live audio webcast of the conference call will be available via: https://app.webinar.net/ybmg6Qq6ZNO Financial Statements and MD&A Valeo Pharma's financial statements and Management's Discussion and Analysis for the three-month ended January 31, 2024, are available on SEDAR at www.sedar.com. About Valeo Pharma Valeo Pharma is a Canadian pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respiratory/Allergy, Ophthalmology and Hospital Specialty Products. Headquartered in Kirkland, Quebec Valeo Pharma has all the required capabilities and the full infrastructure to register and properly manage its growing product portfolio through all stages of commercialization. For more information, please visit www.valeopharma.com and follow us on LinkedIn and Twitter. Forward Looking Statements Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: reliance on third-party suppliers and manufacturers, the availability of additional funding, common risks for pharmaceutical products, including product liability claims, insurance and recalls, registration risks in certain jurisdictions, the inability to implement Valeo's strategy to grow the business, dependence on key management personnel and executives, competition, currency fluctuations and the risks, uncertainties and other factors contained in the section entitled "Risk Factors" in Valeo's annual information form dated January 29, 2024, a copy of which is available on Valeo's Sedar+ profile at www.sedarplus.ca. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect Valeo's business, or if Valeo's estimates or assumptions turn out to be inaccurate. Valeo undertakes no obligation to update publicly, or otherwise revise, any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law. If Valeo does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law. SOURCE Valeo Pharma Inc. |
||
|
||
Copyright 2024 PR Newswire Association LLC. | Back to overview list |