Mon, May 20, 7:35 PM (154 days ago)
Sunshine Biopharma, Inc. reported a significant increase in sales for Q1 2024, totaling $7,541,046, up 54% from $4,894,053 in Q1 2023, driven by new product launches and enhanced marketing efforts. The cost of sales rose to $5,186,709, resulting in a gross profit of $2,354,337. General and administrative expenses were $3,704,926, leading to a net loss of $1,283,801, an improvement from the $1,702,430 loss in Q1 2023. Cash flow from financing activities was strong at $5,398,149, primarily due to a public offering. The company's cash and cash equivalents stood at $17,434,208 as of March 31, 2024. Key uncertainties include reliance on governmental drug reimbursement policies in Canada and the need for future capital to sustain operations and R&D activities.