Ceapro Reports 2018 Third Quarter and Nine-Month Financial Results and Operational Highlights

Ceapro (TSXV:CZO) a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today announced financial results and operational highlights for the quarter ended September 30, 2018.

As quoted in the press release:

“Over the course of 2018 we have made significant progress in transitioning our business model towards the nutraceutical and pharmaceutical sectors, while simultaneously continuing to rely on our cosmeceuticals base business. With the successful development and recognition of new chemical entities and the recently announced approval from Health Canada to initiate Ceapro’s first clinical trial with beta glucan as a cholesterol reducer, we expect to further increase our investments in research and development. We remain focused on the successful execution of this beta glucan trial targeting a $12 billion market, which we believe could be an absolute game changer for the Company while presenting a new approach for patients,” stated Gilles Gagnon, M.Sc., MBA, President and CEO of Ceapro.

“On the financial front, our fundamentals remain solid despite lower sales than the comparative periods in the previous year. In order to grow in 2019, we are deploying strategic efforts to expand and optimize our sales through our distribution network and especially through direct marketing and sales activities. Additionally, the recently announced qualification of Ceapro’s production sites should definitively help to get new customers,” added Mr. Gagnon. “Moving forward, I strongly believe Ceapro has all the key components for success based on a very solid foundation, a highly competent team, a healthy balance sheet and a very strong technology and product portfolio with the potential of getting into very large markets.”

Click here to read the full press release.