PharmAla Issues Q3 Financial Statements
TORONTO, July 25, 2025 (GLOBE NEWSWIRE) -- PharmAla Biotech Holdings Inc. (“PharmAla” or the “Company”) (CSE: MDMA) (OTC: MDXXF), a biotechnology company focused on the research, development, and manufacturing of LaNeo™ MDMA and novel derivatives of MDMA (MDXX class molecules), is pleased to have publicly filed its financial and operational results for the period ended May 31, 2025. All figures are reported in Canadian dollars. The Company’s full set of unaudited condensed interim consolidated financial statements for the quarter and accompanying management’s discussion and analysis can be accessed by visiting the Company’s website at www.PharmAla.ca and its profile page on SEDAR+ at www.sedarplus.ca.
“The re-opening of PharmAla’s domestic Canadian distribution has allowed us to execute as much volume in Q2 and Q3 as we did in all of the last fiscal year. The creation of our Prescriber’s Portal has also allowed us to build a much closer relationship with our doctor customers, which we believe will serve us well moving forward,” said Nick Kadysh, CEO, PharmAla Biotech. “As we move into the last quarter of Fiscal ’24-25, we are incredibly pleased that a large shipment of LaNeo MDMA has arrived at our US distribution partner for delivery to a considerable group of clinical trial customers, most previously announced. PharmAla is also pleased to announce the completion of a manufacturing run in Australia for our 40mg LaNeo Capsules. These capsules were jointly manufactured for both Cortexa’s use within Australia and PharmAla’s use worldwide, and our improved manufacturing process should yield operational benefits well into the future.”
Financial Highlights:
- Customer deposits have continued to grow by $150,463 through Q3, offset by recognition of revenue of $79,558. These deposits, generally being 50% of the total contract value, can be recognized along with the remaining revenue when the related product is shipped, which for many customers requires the issuance of their clinical trial and/or import permits from relevant regulatory bodies.
- Shipments in Canada under the SAP were resumed in Q2 despite no SAP sales in Q1, through Q3 we are approaching the level of SAP sales completed in fiscal 2024.
- Having established a repeatable export process during Q2 and having secured the requisite Health Canada export permits, we fulfilled further U.S. clinical trial sales during Q3. Including SAP revenue, during the 3 and 9 months ended June 30, 2025, we recognized $79,408 and $168,289 of product revenue.
- Total expenses for the nine months ended May 31, 2025 and 2024 of $2,117,495 and $1,085,458, respectively, in addition to cost of sales of $19,123 and $296,962, respectively, and the effect of non-cash expenses (bad debt expense, depreciation and amortization, stock based compensation and loss on debt settlement, collectively $988,811 and $345,101), the increase in the remaining expenses is approximately $110,000. The increase is primarily due to the hiring of our Chief Commercial Officer, Chief Financial Officer and the cessation of capitalization of research and development costs related to MDXX molecules, which is partially offset by better cost management elsewhere.
“Over the past quarter, our team has made exciting progress to ensure a reliable supply of pharmaceutical product for both researchers in clinical trials and patients in need of treatment,” said Will Avery, CFO, PharmAla Biotech. “Our Prescriber Platform continues to empower physicians to access the MDMA and provide treatment for their patients and we look forward to additional clinical trial fulfillment to US and international customers in the near term, unburdened by cross-border trade issues.”
About PharmAla
PharmAla Biotech Holdings Inc. (CSE: MDMA) (OTCQB: MDXXF) is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA. PharmAla was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials as well as commercial sales in selected jurisdictions, and to develop novel drugs in the same class. PharmAla is the only company currently provisioning clinical-grade MDMA for patient treatments outside of clinical trials. PharmAla’s research and development unit has completed proof-of-concept research into several IP families, including ALA-002, its lead drug candidate. PharmAla is a “regulatory first” organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators.
For more information, please contact:
Nicholas Kadysh
Chief Executive Officer
PharmAla Biotech Holdings Inc.
Email: press@PharmAla.ca
Phone: 1-855-444-6362
Website: www.PharmAla.ca
Neither the CSE nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “strategy”, “expects” or “does not expect”, “intends”, “continues”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “will be taken”, “will launch” or “will be launching”, “will include”, “will allow”, “will be made” “will continue”, “will occur” or “will be achieved”. We direct readers to refer to the “Caution Regarding Forward-Looking Statements” contained within the Company’s management’s discussion and analysis for the period ended May 31, 2025, as filed on Sedar+ www.sedarplus.ca.
Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such statements are based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including but not limited to the risk factors discussed in the Company’s management’s discussion and analysis, and elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at www.sedarplus.ca, which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
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