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.
Sunshine Biopharma Inc (SBFM) is a pharmaceutical company based in Montreal, Quebec, Canada, offering a wide range of life-saving medicines in therapeutic areas such as oncology and antivirals. The company's proprietary drug development program includes K1.1 mRNA for liver cancer, SBFM-PL4 for SARS Coronavirus infections, and Adva-27a for pancreatic cancer. With two reportable segments, Generic Pharmaceuticals and Nonprescription Over-The-Counter Products, Sunshine Biopharma generates most of its revenue from the Generic Pharmaceuticals segment.
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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.
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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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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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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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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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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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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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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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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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FAQ
Where is Sunshine Biopharma Inc based?
Sunshine Biopharma Inc (SBFM) is based in Montreal, Quebec, Canada, at 469 Jean-Talon West, 3rd floor.
What are the core therapeutic areas of focus for Sunshine Biopharma Inc?
Sunshine Biopharma Inc focuses on therapeutic areas such as oncology and antivirals, offering life-saving medicines in these fields.
What are the key segments of Sunshine Biopharma Inc's business?
The company has two reportable segments: Prescription Generic Pharmaceuticals and Nonprescription Over-The-Counter Products, with the majority of revenue coming from the Generic Pharmaceuticals segment.
What are the main components of Sunshine Biopharma Inc's drug development program?
Sunshine Biopharma Inc's drug development program includes K1.1 mRNA for liver cancer, SBFM-PL4 for SARS Coronavirus infections, and Adva-27a for pancreatic cancer.
How does Sunshine Biopharma Inc generate revenue?
Sunshine Biopharma Inc generates the majority of its revenue from the Generic Pharmaceuticals segment.
What was the recent financial activity of Sunshine Biopharma Inc?
Sunshine Biopharma Inc recently announced a $10.0 million public offering to support its operations and working capital, with the proceeds expected to be used for general corporate purposes.
What are some of the recent achievements of Sunshine Biopharma Inc?
Sunshine Biopharma Inc received approval from Health Canada for its Biosimilar product NIOPEG, a pegylated form of filgrastim, demonstrating the company's commitment to leadership in the pharmaceutical sector.
What is the outlook for Sunshine Biopharma Inc in terms of new product launches?
Sunshine Biopharma Inc plans to launch 32 additional drugs in Canada in 2024 and 2025, expanding its product offering and market presence.
How does Sunshine Biopharma Inc contribute to the cancer treatment landscape?
Sunshine Biopharma Inc's products like Adva-27a for pancreatic cancer and K1.1 mRNA for liver cancer aim to provide innovative solutions in cancer treatment.
What is the company's goal in terms of profitability?
Sunshine Biopharma Inc is diligently working towards achieving profitability while focusing on growth, expansion, and bringing life-saving drugs to market.
Sunshine Biopharma, Inc.
Nasdaq:SBFM
SBFM Rankings
SBFM Stock Data
7.01M
23.41M
0.5%
0.5%
8.3%
Research and Development in Biotechnology
Professional, Scientific, and Technical Services
United States of America
NEW YORK