HLS Therapeutics Inc

OTC Pink - Current Information:HLTRFUnited StatesView on Canadian Exchange

Nov 7, 2024

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• HLS Therapeutics Q3 Loss Narrows, from 8:12AM ET on Thursday Nov 07, 2024 by MT Newswires

  8:12AM ET on Thursday Nov 07, 2024 by MT Newswires
  Companies Mentioned: HLS
  08:12 AM EST, 11/07/2024 (MT Newswires) -- HLS Therapeutics (HLS.TO) on Thursday reported a narrower third-quarter loss. The net loss fell to US$4.84 million, or US$0.15 per share, from US$6.9 million, or US$0.21 per share, last year. Revenue fell t...

• -- HLS Therapeutics Brief: Q3 2024 revenue was US$14.1 million, from 6:35AM ET on Thursday Nov 07, 2024 by MT Newswires

  6:35AM ET on Thursday Nov 07, 2024 by MT Newswires
  Companies Mentioned: HLS
  06:35 AM EST, 11/07/2024 (MT Newswires) -- ...

• HLS Therapeutics Announces Q3 2024 Financial Results, from 6:30AM ET on Thursday Nov 07, 2024 by CNW Group

  6:30AM ET on Thursday Nov 07, 2024 by CNW Group
  Companies Mentioned: HLTRF

  COMTEX_459556099/2669/2024-11-07T06:30:31

• HLS Therapeutics Announces Q3 2024 Financial Results, from 6:30AM ET on Thursday Nov 07, 2024 by Dow Jones

  6:30AM ET on Thursday Nov 07, 2024 by Dow Jones
  Companies Mentioned: HLS
  Other current assets 1,766 1,915 Total current assets 37,574 44,095 Property, plant and equipment 897 965 Intangible assets 132,043 162,344 Deferred tax asset 619 1,037 Other non-current assets 607 619 Total assets 171,740 209,060 LIABILITIES AND SHAREHOLDERS' EQUITY Current Accounts payable and accrued liabilities 13,482 14,107 Provisions 5,649 5,424 Debt and other liabilities 4,811 6,876 Income taxes payable 149 281 Total current liabilities 24,091 26,688 Debt and other liabilities 64,543 84,233 Deferred tax liability 3,777 442 Total liabilities 92,411 111,363 Shareholders' equity Share capital 260,595 262,127 Contributed surplus 14,907 13,865 Accumulated other comprehensive loss (5,016) (2,838) Deficit (191,157) (175,457) Total shareholders' equity 79,329 97,697 Total liabilities and shareholders' equity 171,740 209,060 HLS THERAPEUTICS INC. INTERIM CONSOLIDATED STATEMENTS OF LOSS Unaudited [in thousands of U.S. dollars, except per share amounts] Three months Nine months endedSeptember endedSeptember 30, 30, 2024 2023 2024 2023 Revenue 14,085 16,037 41,077 47,211 Expenses Cost of product sales 2,235 1,870 6,312 5,091 Selling and marketing 4,208 5,048 13,295 15,180 Medical, regulatory and patient support 1,439 1,675 4,124 4,188 General and administrative 2,077 2,316 6,255 7,040 Stock-based compensation 511 (19) 1,194 63 Amortization and depreciation 5,508 8,207 17,283 24,892 Finance and related costs, net 2,389 4,223 7,998 9,128 Other costs (income) 621 42 (2,740) 4,106 Loss before income taxes (4,903) (7,325) (12,644) (22,477) Income tax expense (recovery) (59) (424) 3,988 (347) Net loss for the period (4,844) (6,901) (16,632) (22,130) Net loss per share: Basic and diluted $(0.15) $(0.21) $(0.52) $(0.68) HLS THERAPEUTICS INC. INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS Unaudited [in thousands of U.S. dollars] Three months Nine months endedSeptember endedSeptember 30, 30, 2024 2023 2024 2023 Net loss for the period (4,844) (6,901) (16,632) (22,130) Item that may be reclassified subsequently to net loss Unrealized foreign currency translation adjustment 1,158 (2,154) (2,178) 236 Comprehensive loss for the period (3,686) (9,055) (18,810) (21,894) HLS THERAPEUTICS INC. INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY Unaudited [in thousands of U.S. dollars] Sharecapital Contributedsurplus Accumulated Deficit Total other comprehensive loss Balance, December 31, 2023 262,127 13,865 (2,838) (175,457) 97,697 Shares repurchased (1,532) -- -- 932 (600) Share purchase obligation -- 300 -- -- 300 Stock option expense -- 742 -- -- 742 Net loss for the period -- -- -- (16,632) (16,632) Unrealized foreign currency translation adjustment -- -- (2,178) -- (2,178) Balance, September 30, 2024 260,595 14,907 (5,016) (191,157) 79,329 Balance, December 31, 2022 265,206 13,821 (5,260) (148,449) 125,318 Stock options exercised 178 (44) -- -- 134 Shares repurchased (1,798) -- -- 826 (972) Share purchase obligation -- (295) -- -- (295) Stock option expense -- 693 -- -- 693 Net loss for the period -- -- -- (22,130) (22,130) Dividends declared -- -- -- (1,182) (1,182) Unrealized foreign currency translation adjustment -- -- 236 -- 236 Balance, September 30, 2023 263,586 14,175 (5,024) (170,935) 101,802 HLS THERAPEUTICS INC. CONSOLIDATED STATEMENTS OF CASH FLOWS Unaudited [in thousands of U.S. dollars] Three months endedSeptember Nine months endedSeptember 30, 30, 2024 2023 2024 2023 OPERATING ACTIVITIES Net loss for the period (4,844) (6,901) (16,632) (22,130) Adjustments to reconcile net loss to cash provided by operating activities Stock-based compensation 511 (19) 1,194 63 Amortization and depreciation 5,508 8,207 17,283 24,892 Gain on -- -- (3,381) -- royalty sale Impairment charge -- -- -- 2,352 Accreted interest 353 199 912 580 Fair value adjustment on financial assets and liabilities 18 2,030 523 3,151 Deferred income taxes (47) (541) 3,753 (803) Net change in non-cash working capital balances related to operations 2 2,392 1,146 3,950 Cash provided by operating activities 1,501 5,367 4,798 12,055 INVESTING ACTIVITIES Proceeds from -- -- 13,250 -- royalty sale Payment of purchase consideration (1,500) -- (1,500) -- Additions to property, plant and equipment -- -- (2) (27) Additions to intangible assets -- (40) -- (148) Cash provided by (used in) investing activities (1,500) (40) 11,748 (175) FINANCING ACTIVITIES Stock options exercised -- -- -- 134 Shares repurchased -- (603) (600) (972) Dividends paid -- -- -- (2,398) Repayment of borrowing under credit agreement (14,965) (2,173) (18,533) (5,683) Debt costs -- (1,360) (1,191) (1,360) Lease payments (131) (155) (386) (474) Cash used in financing activities (15,096) (4,291) (20,710) (10,753) Net increase (decrease) in cash during the period (15,095) 1,036 (4,164) 1,127 Foreign exchange on cash 120 (160) (248) (42) Cash, beginning of period 32,515 20,932 21,952 20,723 Cash, end of period 17,540 21,808 17,540 21,808