Welcome to our dedicated page for Emmaus Life Scie news (Ticker: EMMA), a resource for investors and traders seeking the latest updates and insights on Emmaus Life Scie stock.
Emmaus Life Sciences, Inc. (NASDAQ: EMMA) is a commercial-stage biopharmaceutical company pioneering treatments for rare diseases, with a focus on sickle cell disease therapy Endari®. This page serves as the definitive source for official company announcements, regulatory developments, and research breakthroughs.
Investors and stakeholders can access timely updates on clinical trial progress, FDA/EMA filings, manufacturing expansions, and strategic partnerships. Our curated news collection provides transparent insights into EMMA's operational milestones without speculative commentary.
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Emmaus Life Sciences (OTCPK: EMMA), a biopharmaceutical company specializing in sickle cell disease treatment, released its 2023 financial results. The company reported a 61% increase in annual net revenues, reaching $29.6 million, driven by higher sales in the MENA region and the U.S. Income from operations rose to $3.5 million from a loss of $6.6 million in 2022. However, the net loss was $3.7 million, a notable improvement from the $10.6 million loss in 2022. The company faced a slowdown in Endari sales in Q4 2023 due to inventory shortages, impacting sales in Q1 and Q2 2024. Emmaus has since addressed the shortage and is working with alternative manufacturers. Operating expenses increased to $24.7 million from $22.4 million in 2022, primarily due to higher administrative and selling expenses. The company held $2.5 million in cash and cash equivalents as of December 31, 2023.
Emmaus Life Sciences, Inc. (OTCQX: EMMA) reported a 19% increase in shipment volume for the three months ended March 31, 2023, delivering 8,248 boxes of Endari® compared to 6,930 boxes in Q4 2022. This trend indicates significant growth in the treatment of sickle cell disease. The company is set to release complete interim financial results in its upcoming Form 10-Q filing. Endari®, a prescription-grade L-glutamine oral powder, is approved for treating sickle cell disease and is marketed in several countries. The CEO emphasizes the positive trajectory of shipments while noting that full financial data will follow soon.
Emmaus Life Sciences (OTCQX: EMMA) reported its 2022 financial results, with net revenues of $18.4 million, down from $20.6 million in 2021. The decline was primarily due to increased distributor discounts, despite higher sales volume of Endari. Operating expenses decreased to $22.4 million, leading to a loss from operations of $6.6 million, slightly worse than the previous year's loss of $6.1 million. However, other expenses dropped to $4.0 million, resulting in a reduced net loss of $10.6 million compared to $15.9 million in 2021. Liquidity remains a concern with cash reserves of only $2.0 million.
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