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M Pharma reports asset growth in critical business transition

Monday, November 28, 2016 14:26
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(Before It's News)

M Pharmaceutical Inc (CNQ:MQ, CNSX:MQ) on Monday reported a jump in Total assets in the third quarter, as well as a drop in losses for the nine months ended Sept. 30 during a period the company said was marked by a critical transition in the business.

Total assets rose to C$2.5mln in the three months ended Sept 30 versus C$582,883 at the end of 2015, the biomedical technology company which develops innovative products for the treatment of obesity and weight loss said.

In the nine month period, the total comprehensive loss fell to C$1.9mln from C$2.1mln in the nine months to Sept 30, 2015.

“During the past 18 months, the company underwent many significant changes, including a change of business, various financings and divestitures,” it said in a statement.

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