Innocan Pharma Q1 Revenue Grows 500% YoY, Here Is What You Need To Know
Portfolio Pulse from Vuk Zdinjak
Innocan Pharma Corporation reported Q1 2023 revenue of $1.6 million, a 500% increase compared to Q1 2022, mainly due to increased sales from its subsidiary, B.I. Sky Global Ltd. Gross profit was $1.4 million, and gross profit margin was 87.8%. The company's cash balance stood at $4.1 million as of March 31, 2023.
June 01, 2023 | 1:51 pm
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Innocan Pharma's Q1 2023 revenue increased by 500% to $1.6 million, driven by its subsidiary B.I. Sky Global Ltd. Gross profit margin improved to 87.8%.
Innocan Pharma's Q1 2023 revenue growth of 500% and improved gross profit margin of 87.8% indicate strong financial performance, driven by increased sales from its subsidiary B.I. Sky Global Ltd. This positive news is likely to have a short-term positive impact on the stock price of INNPF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100