Bio Vitos Pharma (BIOVIT) Q3 2024 earnings summary

Executive summary

• Q3 2024 marked by acquisition of supplement brands, exclusive Balkan distribution deal, and ethical approval for iron succinate clinical study.

• Divestment of legacy hemolysis detection business completed post-quarter.

• CEO Jesper Birgemo announced resignation, with continued support for ongoing projects.

Financial highlights

• Q3 2024 net sales: SEK 5,000 (103,082 in Q3 2023); Jan–Sep 2024: SEK 194,416 (2,176,264 in Jan–Sep 2023).

• Q3 2024 net loss after financial items: SEK -3,067,747 (-3,444,451 in Q3 2023); Jan–Sep 2024: SEK -9,381,860 (-7,789,667 in Jan–Sep 2023).

• Q3 2024 EPS: SEK -0.01 (-0.10); Jan–Sep 2024 EPS: SEK -0.02 (-0.23).

• Cash and cash equivalents at period end: SEK 899,084 (1,460,484 at Q3 2023).

• Equity at period end: SEK 37,529,209 (16,988,562 at Q3 2023).

Outlook and guidance

• New business opportunities expected from acquired brands and Balkan distribution agreement.

• Clinical study on iron succinate for athletic women progressing to next phase.