Emmaus Life Sciences, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 03:46 pm EDT
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Emmaus Life Sciences, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 4.29 million compared to USD 6.49 million a year ago. Net loss was USD 8.89 million compared to net income of USD 2.49 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to basic earnings per share from continuing operations of USD 0.05 a year ago. Diluted loss per share from continuing operations was USD 0.18 compared to diluted earnings per share from continuing operations of USD 0.05 a year ago.
For the six months, sales was USD 7.52 million compared to USD 11.82 million a year ago. Net loss was USD 10.43 million compared to USD 5.93 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.21 compared to USD 0.12 a year ago.
Emmaus Life Sciences, Inc. is a commercial-stage biopharmaceutical company. The Company is engaged in the discovery, development, marketing, and sale of treatments and therapies, primarily for rare and orphan diseases. The Companyâs lead product, Endari (prescription-grade L-glutamine oral powder), helps to reduce the acute complications of sickle cell disease (SCD) in adult and pediatric patients aged five years and older. Its product pipeline includes ELS001/ELS007, ELS004, ELS005, ELS003, and ELS002. The Company, through Kainos Medicine, Inc. (Kainos), has a license in the territory encompassing the United States, the United Kingdom, and the European Union to patent rights, know-how, and other intellectual property relating to Kainosâs IRAK4 inhibitor, referred to as KM10544, for the treatment of cancers, including leukemia, lymphoma, and solid tumor cancers. It has also developed chondrocyte and osteoblast cell sheets using human mesenchymal stem cells.