- Q2-23 revenues to exceed $13.5
million
- Q2-23 adjusted EBITDA loss to decrease below $2.0 million
- Q2-23 operating expenses to remain in line with prior
quarters
- ENERZAIR® and ATECTURA® quarterly revenues grow 270% over
prior year
MONTREAL, May 25, 2023
/CNW/ - Valeo Pharma Inc. (TSX: VPH) (OTCQB: VPHIF) (FSE: VP2)
("Valeo" or the "Company"), a Canadian pharmaceutical
company, today provided a financial and commercial update ahead of
its second quarter 2023 results.
Q2-23 Financial Update:
Based on currently available information, the Company is
providing the following guidance updates for its second quarter
2023. The Company expects:
- Revenues to exceed $13.5 million,
a sixth consecutive quarter of revenue growth and a quarterly
record
- Adjusted EBITDA loss to drop below $2.0
million, a sixth consecutive quarter of adjusted EBITDA loss
reduction
- Operating expenses to remain in line with prior quarters
"We are displaying continued quarterly revenue growth and
overall improvement in our financial performance. Our core products
have grown significantly on a year-over-year basis and we see
continuing gains ahead. We are especially pleased with the
increased physician and patient adoption of our innovative asthma
therapies which have long growth runways ahead of them", said
Steve Saviuk, CEO. "Our
business development efforts are focused on adding additional core
products in the near term to leverage our operational and
commercial platform and accelerate our timeline to
profitability".
Q2-23 Commercial Update:
On the commercial front, the Company is pleased to report
that:
- ENERZAIR® and ATECTURA® total number of prescribing physicians
(generalists and specialists) continued to grow and is now expected
to exceed 2,000 at the end of April, 2023
- ENERZAIR® and ATECTURA® quarterly revenues showed accelerating
growth, increasing 270% over the corresponding period last year
- ALLERJECT® promotional activities have officially launched in
April 2023
- XIIDRA®'s and SIMBRINZA® have delivered their best quarterly
sales performance since Valeo launched commercial activities
- REDESCA® revenues continued to grow on year-over-year basis and
continues to lead the Low Molecular Weight Heparin biosimilar
market in Canada with more than
50% market share
About Valeo Pharma
Valeo Pharma is a fast growing 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
This press release contains forward-looking statements about
Valeo's objectives, strategies and businesses that involve risks
and uncertainties. These statements are "forward-looking" because
they are based on our current expectations about the markets we
operate in and on various estimates and assumptions. Actual events
or results may differ materially from those anticipated in these
forward-looking statements if known or unknown risks affect our
business, or if our estimates or assumptions turn out to be
inaccurate.
SOURCE Valeo Pharma Inc.