Pharmala Biotech (MDMA) Q2 2025 earnings summary

Executive summary

• Accelerated operational transition with Prescriber's Portal yielding sustainable patient treatments and distribution, expected to drive recurring revenue.

• Cortexa signed a supply agreement with Emyria, supporting continued segment performance.

• Successfully completed several shipments, with only one recognized in Q2, and resumed SAP shipments in Canada.

Financial highlights

• Fiscal 2024 revenue exceeded $1.0M, up $503,000 or 95% year-over-year, led by MDMA product sales growth of $723,000 (73% increase year-over-year).

• Customer deposits increased by $19,000 in fiscal 2024 and by $121,600 through Q2, offset by $49,000 in recognized revenue.

• $88,900 of product revenue recognized during the 3 and 6 months ended February 28, 2025.

• Cash proceeds of $1.53 million received, plus $42,500 from option exercises and $30,000 from warrant exercises.

• Higher Q2 2025 loss compared to Q2 2024 due to non-cash expenditures and shipment timing; adjusted expenses only marginally increased.

Outlook and guidance

• Anticipates capitalizing on increased SAP sales and demand through the Prescriber's Portal.

• Established a repeatable process for U.S. clinical trial deliveries and onboarding with a new U.S. distribution partner.

• Plans to provide updates on MDXX development work in the near future.