Velan Inc. SV (TSE:VLN) has released an update.
Velan Inc. has reported strong financial results for the fourth quarter and year-end of fiscal 2024, with a significant increase in new orders, leading to a substantial year-over-year rise in backlog entering fiscal 2025. The company saw a sharp rise in fourth-quarter bookings and sales, along with a reduced net loss compared to the previous year. Looking ahead, Velan expects sales growth in fiscal 2025, buoyed by a robust order backlog and opportunities in the flow control industry.
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