Small Pharma's Q2 2024 Financial Highlights Ahead Of Cybin Merger For Global DMT Business
Portfolio Pulse from Lara Goldstein
Small Pharma Inc. (OTCQB:DMTTF) has released its Q2 2024 financial results ahead of its merger with Cybin Inc. (NYSE:CYBN). The results show a 58.6% six-month burn rate, with cash decreasing from $13.5 million in February 2023 to $5.6 million by August 2023. The company also reported a net loss of $2.98 million and $7.1 million for the three and six months ended August 31, 2023. The merger with Cybin is set to create a global DMT business.
October 20, 2023 | 6:49 pm
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NEGATIVE IMPACT
Cybin's upcoming merger with Small Pharma could be impacted by the latter's financial results, potentially affecting investor sentiment.
The financial results of Small Pharma, which is about to merge with Cybin, could impact investor sentiment towards Cybin, potentially leading to a decrease in its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Small Pharma's financial results show a significant burn rate and net loss, which could negatively impact investor confidence.
The high burn rate and net loss reported by Small Pharma could lead to a decrease in its stock price as it may shake investor confidence in the company's financial stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100