News and Announcements
SUDA Continues to Expand and Grow with Receipts Up 15%
- Published April 19, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
SUDA LTD (ASX: SUD), a leader in the oro-mucosal drug delivery, today released its Appendix 4C for the consolidation Group for the third quarter of FY2017.
KEY TAKEAWAYS:
- Receipts from customers for the period were $1.8 million, an increase o0f 15% on the corresponding quarter in FY2016.
- SUDA’s subsidiary company, Westcoast Surgical & Medical Supplies, has continued to grow this financial year. Third quarter at Westcoast increased approximately 20% compared to the second quarter.
- Operating and manufacturing cost in the 3-month period were $1.6 million, an increase of approximately 40% from the second quarter. The increase in costs was largely attributable to higher costs of sales in relation to the growth of Westcoast’s business and to legal costs associated with the HC Berlin Pharma matter as previously reported.
- During the third quarter, SUDA received R&D tax incentive refund of $0.85 million.
- Overall for the period, net cash from operating activities was $0.15 million.
- The cash position as at 31 march 2017 was $1.1 million.
- Following the end of the period, the Company has rolled over the majority of its Convertible Notes and received commitments for additional Convertible Note funding as announced on 3 April 2017 and received commitments for a placement of $1.5 million as announced on 7 April 2017.
SUDA’S CEO, Mr Stephen Carter, commented: “Our subsidiary Westcoast continues to expand and grow. We have also made good progress without core activities in the third quarter, including the signing of a feasibility agreement with Pfizer Consumer healthcare and the completion of the Marketing Authorisation Application for the ArTiMist®. I look forward to updating shareholders with more news during this busy and exciting period for SUDA.”
SUDA LTD (ASX: SUD) is a drug delivery company focused on oro-mucosal administration, headquarter in Perth, Western Australia. The Company is developing low-risk oral sprays using its OroMist® technology to reformulate existing pharmaceuticals. The many potential benefits of administering drugs through the oral mucosa (ie: cheeks, tongue, gums and palate) include the ease of use, lower dosage, reduced side effects and faster response time.
Company Updates
The Biofilm Breakthrough: How An Australian BioTech Firm Is Tapping Indonesia’s $45,000-a-Kitchen Bottleneck
Australian sustainability and deep-tech firm Altair International Pty Ltd is commercialising plant-based clinical hygiene technology, targeting a prime operational bottleneck in Indonesia’s massive national free meals program. Every few years, an Australian deep-tech company emerges combining proprietary science with a transformational anchor contract, the kind of business that quietly creates an entirely new market category […]
THE TAX CHANGED. NOW THE PRODUCT IS CHANGING TO MATCH.
Changes to the 50% capital gains tax discount are shifting Australian private capital away from growth and into high-yielding wrappers. Fund managers are actively redesigning products across private credit and property to capture the incoming capital rotation
The Algorithm Re-Dosing Cancer Treatment: Inside the University of Melbourne Spin-Out Rewriting a 60-Year-Old Formula
Oncology specialists are still calculating toxic chemotherapy doses using a formula from the era of the Ford Model T, leading to a system where seven out of eight patients are routinely overdosed. University of Melbourne spin-out PredicTx is dismantling this legacy approach, utilizing advanced AI to analyze existing patient CT scans, deliver precision medicine to the bedside, and return a massive 100x financial rerate to hospital networks.
Backed By Leading Investment Groups and Family Offices
