Velan Inc. reported earnings results for the fourth quarter and full year ended February 29, 2024. For the fourth quarter, the company reported sales was USD 117.89 million compared to USD 115.14 million a year ago. Net loss was USD 2.08 million compared to USD 47.16 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 2.18 a year ago.
For the full year, sales was USD 346.82 million compared to USD 370.43 million a year ago. Net loss was USD 19.74 million compared to USD 55.45 million a year ago. Basic loss per share from continuing operations was USD 0.91 compared to USD 2.57 a year ago.