#USA #Innocan Pharma #LPT-CBD #Herzliya #BI Sky Global

Innocan Pharma Reports Strong First Quarter 2025 Financial Results

Innocan Pharma Corporation (CSE: INNO), a pioneering pharmaceutical technology company, shared its financial performance for the first quarter ending March 31, 2025. The report highlights robust revenue growth alongside significant advancements in its corporate strategies. With a focus on innovative drug delivery technologies, Innocan continues to position itself as a leading player in the pharmaceutical industry.

Key Financial Highlights

In the first quarter of 2025, Innocan reported revenues of $7.8 million, a remarkable increase of 15% compared to the $6.8 million recorded in the same period last year. This surge in revenue is primarily attributed to the impressive sales performance of its subsidiary, BI Sky Global Ltd. The gross profit also reflected positive growth, rising by 19% to $7.1 million, up from $6.0 million in Q1 2024.

In an exciting turn, Innocan turned around an operating loss of $1.2 million in Q1 2024 into an operating profit of $0.5 million for Q1 2025, showcasing its effective management and operational strategies.

Corporate Developments

Among the notable corporate achievements is the successful completion of a private placement, where Innocan raised $1 million through the issuance of debenture units to its largest shareholder, Tamar Innovest Ltd. This funding will support further development of its innovative product lines and research initiatives.

Innocan also shared significant advancements in its intellectual property efforts. The company aims to broaden the intellectual property coverage for its liposomal CBD injection technology across Asian markets. Recently, it received a patent in India for a prolonged-release pharmaceutical formulation using liposomes specifically designed to encapsulate CBD.

The liposomal drug delivery platform is engineered to enhance bioavailability, thus maximizing the therapeutic effects of CBD. Moreover, Innocan received positive feedback from the U.S. Food and Drug Administration (FDA) for its synthetic CBD-loaded Liposome Injection Platform (LPT-CBD) during a pre-IND meeting. The goal is to develop this platform as a non-opioid alternative for managing chronic pain.

In addition to expansion efforts in India, Innocan is strategically filing divisional applications for its LPT-CBD technology in China, further solidifying its presence in significant pharmaceutical markets.

Veterinary Medicine Breakthroughs

An exciting development came from Innocan’s veterinary applications when the FDA's Center for Veterinary Medicine (CVM) granted a sponsor fee waiver for the LPT-CBD product for the second consecutive year. This waiver acknowledges Innocan's pursuit of innovative drug products for animal health. Innocan’s LPT-CBD aims to offer a safe solution for managing chronic pain in dogs through subcutaneous injections, meeting the growing demand among pet owners for effective health solutions.

Management Insights

In reflecting on these results, Iris Bincovich, CEO of Innocan Pharma, expressed his enthusiasm for the company's trajectory. "We are thrilled with our robust start to 2025 and the positive feedback from our key initiatives. Our team's commitment to operational excellence and innovative developments is paying off, and we are excited about our strategic direction moving forward."

Roni Kamhi, CEO of BI Sky Global, echoed this sentiment, highlighting the trust they have built with their customer base in the beauty and personal care markets. As they continue to leverage their expertise and advanced data analytics, the focus remains on enhancing their portfolio and expanding market presence.

For more detailed financial information and insights, investors can access Innocan's full set of financial statements on their official website at www.innocanpharma.com.

In conclusion, Innocan Pharma’s Q1 2025 results showcase a strong momentum and comprehensive strategy in the pharmaceutical landscape. With continued innovations and strategic partnerships, Innocan is poised for ongoing success and growth in the years ahead.