Avecho Biotechnology Limited ( (AU:AVE) ) just unveiled an announcement.
Avecho Biotechnology Limited reported a significant increase in revenue by 139.2% to $1,132,672 for the year ending December 31, 2024, primarily driven by increased sales of Vital ET®. Despite the revenue growth, the company recorded a loss of $3,122,048, which is a 9.2% improvement from the previous year. The increase in expenses, especially in research and development, is attributed to the Phase III Clinical Trial for its oral cannabidiol capsule. The company’s cash reserves decreased significantly due to ongoing investments, impacting its net assets and working capital.
More about Avecho Biotechnology Limited
Avecho Biotechnology Limited operates in the biotechnology industry, focusing on developing innovative drug delivery systems. The company is known for its research and development activities, particularly in oral cannabidiol capsules for treating insomnia, and its market focus includes enhancing the efficacy of pharmaceutical products.
Current Market Cap: A$20.6M
See more data about AVE stock on TipRanks’ Stock Analysis page.