Record Revenue Growth
Revenues increased by 10% to $105 million, breaking the $100 million barrier for the first time. This included a 6% growth in commercial sales and a 24% growth in sales reimbursements, primarily driven by expansion in the U.S. and Europe.
Strong Financial Position
Cash reserves increased by 22%, and the company remains debt-free for the 20th consecutive year. Net tangible asset backing increased by 19%, and a 5% dividend was declared.
Clinical Advancements
CUV105 vitiligo clinical trial is fully recruited. The company is advancing trials in vitiligo, expanding the adult EPP market, and finalizing the manufacturing of the ACTH generic product.
Expansion in the U.S.
The number of trained and accredited sites in North America increased to 104, with a target of 120 sites by the end of the calendar year.
Consistent Profitability
Achieved the ninth consecutive annual profit and declared the eighth consecutive annual dividend, the fourth of which is fully franked.