Ceapro Reports 2017 Financial Results

Ceapro (TSXV:CZO) a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today announced its financial results for the twelve months ended December 31, 2017. Ceapro plans to provide a corporate update on April 23, 2018.

As quoted in the press release:

“Over the course of 2017, a primary aspect of our focus was the research and development of our enabling technologies, which we believe will pave the way for the transition of our business model from a contract manufacturer to a full-fledged biopharmaceutical company. In addition to our increased investment, we have also laid excellent groundwork to diversify our business model to get closer to the customer by the offering of high-end value final cosmeceutical products through JuventeDC. Given the significant investments made in our beta glucan and avenanthramides product portfolio and the encouraging results obtained so far, I believe that we are well poised to expand into the profitable nutraceutical sector over the next 12 months,” stated Gilles Gagnon, M.Sc., MBA, President and CEO of Ceapro.

“On the financial front, we continued to deliver solid results even with sales slightly lower than 2016, which was a record-breaking year for the Company. Our fundamentals are solid with positive income and cash generated from operations, a positive working capital balance, and our balance sheet, when excluding one-time provisions for legal matters, has continued to improve showing a strong cash on hand position, reduced long-term debt, as well as a slightly improved positive equity position compared to 2016,” added Mr. Gagnon.

Click here to read the full press release.