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ImmunoPrecise reported its financial results for the fourth quarter ended April 30, 2017, and provides a business update to shareholders.
ImmunoPrecise (TSXV:IPA; OTCPINK:IPATF) reported its financial results for the fourth quarter ended April 30, 2017, and provides a business update to shareholders.
As quoted in the press release:
ImmunoPrecise’s focus is on aggressively expanding its share of the research and development antibody global market, delivering its products and services to academic, diagnostic, biotechnology and pharmaceutical customers globally. As of April 30, 2017, the Company had $2,447,476 in working capital to finance its growth initiatives.
During the year ended April 30, 2017 the Company made foundational growth-enabling investments in operational efficiency, improvement to gross margins, new information systems, internet marketing capabilities and lead generation, expansion of laboratory facilities, market research and research and development initiatives aimed at new offerings in the development of humanized antibodies.
For the year ended April 30, 2017, the Company recorded revenue of $2,630,515 compared to $1,896,118 year ended April 30, 2016. The increased revenue was directly related to the Company being able significantly grow its commercial activities.
Click here to read the full press release.
Source: www.newswire.ca