tiprankstipranks
Kane Biotech Reports Strong Q1 with Major Sale
Company Announcements

Kane Biotech Reports Strong Q1 with Major Sale

Kane Biotech (TSE:KNE) has released an update.

Don't Miss Our Christmas Offers:

Kane Biotech has reported a robust first quarter in 2024 with a 39% increase in total revenue to $941,661 and a 63% surge in gross profit compared to the previous year. The company also successfully completed the sale of its STEM Animal Health Inc. division for over CND $11.5 million, which allowed it to pay off all its interest-bearing debt and plans to record a gain of approximately $10 million from this transaction. Despite these positive developments, the company saw an 8% increase in its quarterly loss to ($1,346,825), citing higher research expenditures and non-cash incentive expenses.

For further insights into TSE:KNE stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Canadian Auto-Generated NewsdeskKane Biotech’s Promising Q3 and Strategic Advances
TipRanks Canadian Auto-Generated NewsdeskKane Biotech Partners with BioStem for U.S. Distribution
TipRanks Canadian Auto-Generated NewsdeskKane Biotech to Announce Q3 Financial Results
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App