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Valeo Pharma $VPH $VPHIF Reports its 2020 Fourth Quarter and Year-End Results and Highlights $ $ $ $

Posted by AGORACOM-JC at 5:52 PM on Wednesday, February 24th, 2021
Valeo Pharma (@valeo_pharma) | Twitter
  • Q4-20 net revenues of $2.2 million , up 76 % vs Q4-19, 2020 net revenues of $7.5 million up 14% vs 2019
  • Hiring of Frederic Fasano as new President and COO
  • Successfully launched 4 new products during FY-20
  • Redesca ® , Redesca HP ® and Amikacin approved by Health Canada subsequent to year-end
  • $10.8 million raised in 2020 from bought deal offering and over-subscribed private placements
  • Valeo’s shares now trading on the US-OTCQB exchange under “VPHIF”

MONTREAL , Feb. 24, 2021 – Valeo Pharma Inc . (CSE: VPH) (OTCQB: VPHIF) (FSE: VP2) (” Valeo ” or the ” Company “), a Canadian specialty pharmaceutical company, today reported its financial results for the fourth quarter and year-ended October 31, 2020 .

“Valeo accomplished key objectives in 2020 which sets the stage for strong growth in 2021. In addition to Hesperco TM , we launched three strategic products and secured regulatory approvals for Redesca ® ,Redesca HP ® and Amikacin, all of which will be launched in the first half of 2021. We expect that these products will contribute significant revenues and margins in 2021”, said Steve Saviuk , Valeo’s CEO. “Our vision of building an anchor Canadian pharmaceutical company through therapeutic innovation is solidifying as we continue to build our commercial portfolio in therapeutic areas of focus.”

Commenting on the fourth quarter and 2020 results, Luc Mainville , Senior Vice-President and Chief Financial Officer said, “As evidenced by our revenues increase and net loss decrease of the fourth quarter, our efforts towards becoming a profitable EBITDA company are starting to bear fruit. During the last portion of 2020, the launch of new products such as Ametop ® and Yondelis® in Canada and Sodium Ethacrynate in the U.S., has contributed new revenues and margins with nominal increase to our operating expenses. The execution of our growth strategy is positioning the Company for a very successful year in 2021”.

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