Kane Biotech (TSE:KNE) has released an update.
Kane Biotech Inc. has reported an increase in fourth quarter revenue by 11% and full year revenue by 6% for 2023, driven by strong online sales and new product launches. The company also announced plans to sell its interest in STEM Animal Health, with a non-binding offer already in place and significant deposits received towards the purchase. Despite revenue growth, the company experienced a substantial increase in fourth quarter and full year operating expenses, leading to larger losses compared to the previous year.
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