Edesa Biotech reports Q2 EPS (58C), consensus (69C)

At March 31, Edesa had cash and cash equivalents of $2.8M and working capital of $2.1M. Subsequent to the quarter end, the company received $0.7M in reimbursement funding the Canadian government’s Strategic Innovation Fund. “We are positioning our anti-TLR4 respiratory technology for both acute and chronic conditions,” said Par Nijhawan, MD, CEO of Edesa Biotech. “With governments now focusing on host-directed therapeutics as part of their pandemic preparedness and biodefense plans, and strong scientific rationale for evaluating EB05 in both ARDS and chronic lung fibrosis, we believe we can significantly expand the medical opportunities for this promising antibody as well as enhance its attractiveness for commercial development and partnering.”