Welcome to our dedicated page for Ceapro news (Ticker: CRPOF), a resource for investors and traders seeking the latest updates and insights on Ceapro stock.
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Aeterna Zentaris and Ceapro have completed their all-stock merger, creating a diversified biopharmaceutical company. The merger aims to enhance value through shared resources, expanded R&D capabilities, and a robust product pipeline. The new entity will focus on North American operations while maintaining a presence in Europe. The combined company expects to leverage its expertise for regulatory approvals and market entry of high-value pharmaceutical products. Ceapro shareholders will receive Aeterna shares, with Ceapro shares being delisted from TSX Venture Exchange. A new name for the company will be proposed soon.
Ceapro Inc. reported its Q1 2024 financial results, showing a decrease in sales to $2.8 million from $3.5 million in Q1 2023. The company highlighted significant progress in R&D, particularly in its Phase 1 clinical study for avenanthramides and the scale-up of PGX technology. The company announced a merger with Aeterna Zentaris, expected to finalize in Q2 2024. The company's gross margin dropped to 44% from 46%, and net loss widened to $1.9 million from $385,000 year-over-year, due to lower sales and increased R&D and G&A expenses. Ceapro maintains a positive working capital of $10.2 million as of March 31, 2024.
Looking ahead, Ceapro aims to complete key projects using its cash reserves and capitalize on the merger benefits.
Ceapro Inc. reported its 2023 financial results and operational highlights, showcasing achievements in R&D, clinical studies, and new product development. The company's sales decreased by 49%, largely due to reorganization with a major customer. Ceapro announced a merger with Aeterna Zentaris to enhance its biopharmaceutical portfolio. Financially, there was a net loss in 2023, impacted by operational changes and lower sales.
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