Emmaus Life Sciences, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 06:23 am EST
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Emmaus Life Sciences, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 5.02 million compared to USD 4.94 million a year ago. Net income was USD 0.067 million compared to net loss of USD 0.391 million a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
For the nine months, sales was USD 22.53 million compared to USD 12.46 million a year ago. Net loss was USD 4.94 million compared to USD 10.83 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 0.22 a year ago. Diluted loss per share from continuing operations was USD 0.09 compared to USD 0.22 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.