iAnthus Touts 82% YoY Revenue Growth, Names Interim COO
New York-based iAnthus Capital Holdings Inc. (CSE: IAN) (PINK: ITHUF) generated around $40.6 million in revenue during the third quarter of fiscal 2020. That's up by 17% sequentially and roughly 82% year-over-year.
The company disclosed a net loss of $9.7 million, compared to a $20.9 million loss in the previous quarter.
In addition, gross margin for the quarter went up to 62.9% from 54.8% in the second quarter.
Senior Vice President and Chief Administrative Officer Robert Galvin was promoted to Interim Chief Operating Officer. He replaces Patrick Tiernan, who has resigned.
Interim CEO Randy Maslow said Tiernan “played a key role in driving improvements to operating results and product development, as well as the difficult task of integrating the assets we acquired in the MPX transaction.”
Can-Fite Revenue Drops 67% YoY To $0.61M
The Petach Tikva, Israel-based biotech company confirmed its research and development expenses amounted to $9.05 million for the same period, versus $7.01 million for the corresponding period of last year.
In addition, general and administrative expenses were $2.14 million.
Other highlights from the period include FDA’s issuance of a “safe to proceed” notice for the …