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Aequus Pharmaceuticals announced a partnership with reVision Therapeutics on August 17, 2021, to develop REV-0100, a potential therapy for Stargardt disease. This collaboration allows Aequus to gain the option for North American commercial rights, contingent on a $400,000 initial equity investment in reVision. REV-0100 aims to clear toxic lipofuscin and has Orphan Drug and Rare Pediatric Disease designations from the FDA, which may expedite its development. Clinical trials for Stargardt patients are expected to start in late 2021 or early 2022.
Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) announced on June 9, 2021, that its collaboration with Sandoz for the glaucoma medication Vistitan™ will be extended until February 2022. Ongoing discussions aim to expand this partnership to include more products. With easing COVID-19 restrictions, Aequus plans to boost its sales and travel activities across Canada in the second half of 2021, enhancing the digital engagement with customers. A new website for Vistitan™ has been launched to strengthen its digital presence in the ophthalmology market.
Aequus Pharmaceuticals Inc. (AQSZF) reported financial results for Q1 2021, revealing revenues of $491,821, a 15% decrease from Q1 2020. The company experienced an operating loss of $623,636, worsened by increased product development costs and COVID-19-related sales impacts. Despite a slight sales decline, Aequus launched its E-commerce platform and Evolve™ eye drops, aiming for future growth. Regulatory approvals for Zimed-PF are progressing, with launch expected in late June 2021. Aequus continues to negotiate terms with Sandoz Canada on existing products.
Aequus Pharmaceuticals Inc. (AQSZF) reported a strong financial performance for the fiscal year 2020, achieving record revenues of $2.6 million, a 59% increase from 2019. The Q4 revenue also surged 59% to $851,187. The company's net loss was reduced by 66% to $1.0 million, primarily due to increased sales and decreased expenses. Aequus is focused on commercializing new products, including Zimed-PF for glaucoma, and enhancing partnerships. Its operational strategy includes adapting to digital sales, despite COVID-19 challenges, aiming for operational break-even in the near future.
Aequus Pharmaceuticals Inc. (OTCQB: AQSZF) will present at the 2021 Bloom Burton & Co. Healthcare Investor Conference on April 21, 2021, at 8:30 A.M. PT (11:30 A.M. ET). This presentation will occur virtually. Interested participants can register here. Aequus focuses on developing specialty pharmaceutical products, particularly in ophthalmology and transplant, while aiming to expand its Canadian market through new product launches.
Aequus Pharmaceuticals (OTCQB: AQSZF) has launched its new line of preservative-free lubricating eye drops, EvolveTM, in Canada, aimed at treating dry eye disease. This product range includes Intensive Daily and Intensive Gel drops, designed to improve patient outcomes and enhance revenue for eye care professionals. With a market opportunity exceeding $90M in Canada, Aequus aims to capitalize on the growing demand for dry eye treatments, particularly as the condition affects approximately 6.3 million Canadians.
Aequus Pharmaceuticals has received a new Medical Device License for its Evolve™ Intensive Gel aimed at treating Dry Eye Disease. This product is part of a preservative-free line developed in partnership with Medicom Healthcare. The gel contains a unique formulation designed to provide enhanced hydration for patients suffering from moderate to severe dry eye conditions. With this approval, Aequus anticipates that the Evolve line will become a significant revenue stream, as launch activities for the remaining products are currently underway.
Aequus Pharmaceuticals (TSX-V: AQS, OTCQB: AQSZF) has extended its promotional service agreement with Sandoz Canada until December 31, 2021, initially begun in December 2015. The partnership focuses on the generic product Tacrolimus IR, which has seen over 10x growth in Canada due to increased brand awareness and patient programs. CEO Doug Janzen expresses optimism for further growth in the next 12 months, highlighting Aequus's capability in market access and sales force execution.