Sangui Biotech International Inc. Reports Earnings Results for the First Quarter Ended September 30, 2016; Provides Earnings Guidance for the Fiscal Year 2017
November 21, 2016
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Sangui Biotech International Inc. reported earnings results for the first quarter ended September 30, 2016. For the quarter, the company achieved revenues from royalty income and product sales of USD 9,711 against USD 11.471 a year ago. The operating loss decreased compared to the prior year quarter by USD 91,533 to USD 69,893.
The company expects for the further development of the fiscal year 2017 rising sales of Granulox and accordingly increasing royalty income. This forecast is based on the successful integration of new sales partners (UK and Southeast Asia) as well as positive developments in already developed sales areas.
Sangui Biotech International, Inc. focuses on the development of pharmaceutical, medical and cosmetic products. The Company develops its products through its German subsidiary, SanguiBioTech AG (Sangui GmbH). It is engaged in seeking to market and selling its products through partnerships with industry partners across the world. It focuses on the development of oxygen carriers capable of providing oxygen transport in humans in the event of acute and/or chronic lack of oxygen due to arterial occlusion, anemia or blood loss whether due to surgery, trauma, or other causes. It focuses its development and commercialization efforts on such artificial oxygen carriers by reproducing and synthesizing polymers out of native hemoglobin of defined molecular sizes. It offers external applications of oxygen transporters in the medical and cosmetic fields in the form of sprays for the healing of chronic wounds and of gels and emulsions for the regeneration of the skin.
Sangui Biotech International Inc. Reports Earnings Results for the First Quarter Ended September 30, 2016; Provides Earnings Guidance for the Fiscal Year 2017