This Precision-Fermentation Company Achieves Q3 Record Revenue And Strategic Milestones In Business Expansion
This Precision-Fermentation Company Achieves Q3 Record Revenue And Strategic Milestones In Business Expansion
Willow Biosciences Inc. (TSX:WLLW) (OTCQB:CANSF) has reported its financial and operating results for the third quarter ending September 30, 2023, showcasing record revenue and substantial progress in its business expansion.
Willow Biosciences Inc.（多倫多證券交易所股票代碼：WLLW）（OTCQB: CANSF）公佈了截至2023年9月30日的第三季度財務和經營業績，顯示了創紀錄的收入和業務擴張的實質性進展。
Willow is a precision fermentation company that uses advanced science and technology to produce natural ingredients for the health and wellness, food and beverage and personal care markets, including cannabis.
Willow是一家精密發酵公司，利用先進的科學和技術爲健康和保健、食品和飲料以及包括大麻在內的個人護理市場生產天然原料。
Dr. Chris Savile, Willow's president & CEO, highlighted the successful implementation of the company's strategy to enhance sustainability and reduce operational expenses.
Willow總裁兼首席執行官克里斯·薩維爾博士強調了公司增強可持續性和減少運營開支的戰略的成功實施。
Key Third Quarter Financial Highlights
第三季度主要財務亮點
- Ended Q3 with approximately $4.0 million in cash and over $0.6 million in receivables.
- Reported Q3 revenue of $0.7 million and year-to-date total revenue of $1.1 million, marking a record for both the quarter and the year.
- Willow continued to transition to a more efficient company with a total cash burn from operating activities, excluding changes in working capital, and transition costs to below $1.5 million for the third quarter of 2023.
- Achieved a targeted objective by reducing ongoing cash burn to below $0.5 million per month.
- Willow closed an insider-led convertible debenture financing on October 10, 2023, raising gross proceeds of $0.8 million.
- 截至第三季度，現金約爲400萬美元，應收賬款超過60萬美元。
- 公佈的第三季度收入爲70萬美元，年初至今的總收入爲110萬美元，創下了本季度和年度的紀錄。
- Willow 繼續向一家效率更高的公司過渡，其運營活動產生的現金總消耗（不包括營運資金的變化），過渡成本在 2023 年第三季度降至 150 萬美元以下。
- 通過將持續的現金消耗減少到每月50萬美元以下，實現了目標目標。
- Willow 於 2023 年 10 月 10 日完成了由內部人士主導的可轉換債券融資，總收益爲 80 萬美元。
Key Third Quarter Corporate Highlights
第三季度主要企業亮點
- Progress in the savory food program with Kalsec Inc., moving from feasibility to the R&D and scale-up stage.
- Initiation of a new program with a leading NASDAQ-listed biopharma company for sustainable manufacturing routes, with successful results in the initial discovery phase.
- A patent application was filed for a cost-effective corticosteroid production process using Willow's BioOxi platform, with ongoing commercial discussions.
- Completion of research and development on sustainable production of ursodeoxycholic acid (UDCA), leveraging BioOxi technology, and ongoing commercialization discussions.
- Collaboration announcement with Suanfarma for the development of a large-volume anti-infective API through precision fermentation.
- Confidential settlement with Aurora Cannabis Inc. (NASDAQ:ACB) regarding ongoing patent litigation in Canada, with any associated costs already accrued in previous quarters.
- Kalsec Inc. 的美味食品計劃取得了進展，從可行性進入研發和擴大階段。
- 與一家在納斯達克上市的領先生物製藥公司啓動一項新項目，以實現可持續的生產路線，並在最初的發現階段取得了成功的結果。
- 使用Willow的BioOXi平台申請了一種具有成本效益的皮質類固醇生產工藝的專利，商業討論仍在進行中。
- 利用BioOXi技術完成熊去氧膽酸（UDCA）可持續生產的研究和開發，並正在進行的商業化討論。
- 宣佈與Suanfarma合作開發通過精確發酵開發大容量抗感染原料藥。
- 與Aurora Cannabis Inc.（納斯達克股票代碼：ACB）就加拿大正在進行的專利訴訟達成保密和解，所有相關費用已在前幾個季度累計。
"The excitement in the industry around our BioOxi program and its potential to transform the multi-billion dollar steroid market has led to negotiations on multiple new programs that are expected to close in the first half of 2024," said Dr. Savile. "These programs are expected to generate both near-term R&D revenue, including up-front cash, and longer-term upside through milestones, royalties, and ingredient supply without the need for significant internal investment."
薩維爾博士說：“業界對我們的BioOxi計劃及其改變數十億美元類固醇市場的潛力感到興奮，這促使人們就多項新計劃進行了談判，這些計劃預計將於2024年上半年結束。”“這些計劃有望在無需大量內部投資的情況下通過里程碑、特許權使用費和原料供應創造短期研發收入，包括前期現金，並通過里程碑、特許權使用費和原料供應創造長期上升空間。”
Business Outlook for 2023: The company anticipated continued strong R&D revenue growth in Q4 and expects the first commercial revenues as early as Q1 2024.
2023年業務展望：該公司預計第四季度研發收入將持續強勁增長，並預計最早將在2024年第一季度實現第一批商業收入。
Price Action
價格走勢
CANSF's shares were trading 8.13% higher at $0.0556 per share at the time of writing on Wednesday afternoon.
在週三下午撰寫本文時，CANSF的股價上漲8.13％，至每股0.0556美元。
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Image by El Planteo
圖片由 El Planteo
譯文內容由第三人軟體翻譯。