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Sunshine Biopharma, Inc. - $SBFM STOCK NEWS

Welcome to our dedicated page for Sunshine Biopharma news (Ticker: $SBFM), a resource for investors and traders seeking the latest updates and insights on Sunshine Biopharma stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Sunshine Biopharma's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Sunshine Biopharma's position in the market.

Rhea-AI Summary

Sunshine Biopharma (NASDAQ:SBFM) announced its 2024 first-quarter results, showing a 54% increase in gross revenues to $7.54 million, up from $4.89 million in the same period of 2023. The surge is attributed to new product launches and expanded marketing by its Canadian subsidiary, Nora Pharma. Despite the revenue growth, the company reported a net loss of $1.28 million, an improvement over the $1.70 million loss in the first quarter of 2023. The company also completed a public offering in February 2024, raising $10 million in gross proceeds, with $8.52 million net proceeds. Sunshine Biopharma is focused on achieving profitability.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-17.76%
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Rhea-AI Summary
Sunshine Biopharma's Nora Pharma has received Health Canada approval for Niopeg(R), a Biosimilar of Neulasta(R). Nora Pharma, a subsidiary of Sunshine Biopharma, has successfully obtained approval from Health Canada for the commercialization of Niopeg(R), a pegylated form of filgrastim, in Canada. Niopeg(R) is a Biosimilar comparable to Neulasta(R), indicated to decrease infection incidence in patients with non-myeloid malignancies. This approval marks a significant milestone for Nora Pharma's mission to provide high-quality affordable medicines to Canadian patients.
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-46.84%
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Rhea-AI Summary
Sunshine Biopharma, Inc. (SBFM) implements a one for one hundred reverse stock split to meet Nasdaq's bid price requirement, effective April 17, 2024.
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Rhea-AI Sentiment
End-of-Day
-8.15%
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Rhea-AI Summary
Sunshine Biopharma Inc. (SBFM) reported a 14% average sales growth per quarter in 2023, reaching a total of $24,092,787. Loss per share decreased from $1.76 in 2022 to $0.19 in 2023. The company completed a $5 million private placement, repurchased shares, and advanced two drugs to animal testing. However, IND-enabling studies for Adva-27a were halted due to unfavorable results.
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Rhea-AI Sentiment
End-of-Day
76.86%
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Sunshine Biopharma, Inc. (NASDAQ: SBFM) completed a public offering raising approximately $10.0 million. The offering included 71,428,571 Units, with Common Units and Pre-Funded Units. The Company plans to utilize the proceeds for general corporate purposes and working capital. Aegis Capital Corp. has an option to purchase additional shares. The offering was managed by Aegis Capital Corp. and legal counsel was provided by Sichenzia Ross Ference Carmel LLP and Kaufman & Canoles, P.C.
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Rhea-AI Sentiment
End-of-Day
6.67%
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Rhea-AI Summary
Sunshine Biopharma, Inc. (NASDAQ:SBFM) announced a firm commitment underwritten public offering with gross proceeds of approximately $10.0 million. The offering includes Units comprising common stock, Pre-Funded Warrants, Series A Warrants, and Series B Warrants. Aegis Capital Corp. has a 45-day option to purchase additional shares. The offering price per Unit is $0.14, with various exercise prices for the warrants.
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End-of-Day
-63.68%
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Sunshine Biopharma, Inc. (NASDAQ: 'SBFM') has relocated its headquarters to New York City while maintaining a satellite office in Montreal, Canada. The company operates a Canadian subsidiary with 41 employees and 51 generic prescription drugs on the market, planning to expand to 67 by 2024. Sunshine Biopharma is also conducting a proprietary drug development program for liver cancer and COVID-19. The press release contains forward-looking statements and emphasizes the risks and uncertainties involved in the company's activities.
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-7.59%
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Rhea-AI Summary
Sunshine Biopharma Inc. (NASDAQ:SBFM) reported an increase in gross revenues to $5,957,668 for the 2023 third quarter, attributing the growth to the acquisition of Nora Pharma Inc. The company also noted a 7.1% increase over the previous quarter and a 21.7% increase over the first quarter. However, it incurred a net loss from operations of $651,482 for the quarter.
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Rhea-AI Sentiment
End-of-Day
-12.11%
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Rhea-AI Summary
Sunshine Biopharma Inc. reports Q2 gross revenues of $5,560,865, a 3,600% increase YoY. Acquiring Nora Pharma Inc. contributed to the growth. Q2 revenues also increased by 13.6% compared to Q1.
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Sunshine Biopharma, Inc.

Nasdaq:SBFM

SBFM Rankings

SBFM Stock Data

13.17M
95.34M
9.45%
6.51%
0.71%
Research and Development in Biotechnology
Professional, Scientific, and Technical Services
Link
United States of America
NEW YORK

About SBFM

sunshine biopharma inc (sbfm) is a pharmaceuticals company based out of 469 jean-talon west, 3rd floor, montreal, québec, canada.