Strong Financial Performance
Sales grew by 10.5% to $36 million, total revenues increased by 21% to $43 million, and profit before tax rose by 48% to just under $22 million. Profit after tax increased by almost 30% to $14 million.
Earnings Per Share and Cash Reserves
Earnings per share rose by 27% from $0.22 to $0.28, and cash reserves increased by 8% to $198 million.
Operational Success
The company remains debt-free for the 20th consecutive year with an increase of 7% in net assets. The company's model has allowed expansion without needing dilutive capital raises or external debt funding.
Expansion in Treatment Network
Increase in revenues due to more patients being treated and a more frequent dosing of patients across the U.S. and Europe. Successful engagement with physicians who are building a network of treatment centers.
Ongoing Development in Vitiligo Program
Visible repigmentation in trials with plans to expand clinical and nonclinical development. New sites and patients being incorporated into the program.