Sangui BioTech International Inc.
- WKN: 906757
- ISIN: US80105B1017
- Land: Germany
Nachricht vom 15.05.2015 | 12:00
Sangui BioTech International Inc.: Lower revenues in the third quarter
Sangui BioTech International Inc. / Key word(s): Quarter Results
SanguiBioTech: Lower revenues in the third quarter
Witten, Germany Mai 15, 2015 - For the nine months (as of March 31, 2015) of its 2015 financial year Sangui BioTech International, Inc. reports revenues from product sales and royalties in the amount of USD116,560, an increase of 29.9% over the revenues in the first nine months of the financial year 2014 when revenues amounted to USD89,741 (previous period numbers not adjusted for exchange rate changes). In the third quarter (January through March 2015) revenues amounted to USD11,654 a decrease of 62.6% as compared with the most recent quarter(October through December 2014). According to information provided by global licensee SastoMed GmbH revenues from license fees are expected to increase significantly over the remaining quarters of the calendar year after the slump of the March quarter.
Research and development expenses amounted to USD171,427 (9M/2014: USD139,978). The increase is due to the preclinical trials which demonstrated the functionality of Sangui's technology with respect to the septic shock indication. The net loss attributable to shareholders of the parent company came to USD537,282 (9M/2014: USD1,257,727). In the respective period of the previous year, this position included the loss incurred from the write down of a loan extended to an unrelated party. The cash outflow from operations during the nine months amounted to USD445,557 (9M/2014: USD452,192).
As of December 31, 2014, the equity ratio was minus 113.6% (June 30, 2014: 2.8%).
In the course of the third quarter, the series of preclinical trials at Giessen University inview of the indication septic shock was concluded successfully. Sangui is currently preparing the next steps in the preclinical development of its SBT102 product. An essential sub-project will be the establishment of the final manufacturing process for the test substance and eventually for an industry scale production.
Sangui BioTech International, Inc. ("SGBI") is a holding company the shares of which are being traded on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies (OTCQB: SGBI). Companies are current in their reporting and undergo an annual verification and management certification process. Sangui shares also trade on the OTC markets of Berlin and Hamburg-Hannover stock exchanges (symbol: SBH). Its purpose is to provide financing and access to the capital markets for the enterprises of the Sangui group. SanguiBioTech GmbH is a ninety percent subsidiary of Sangui BioTech International, Inc.
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