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Emmaus Life Sciences posts $5.8M in 3Q revenue as efforts to expand access to Endari sickle cell disease treatment bear fruit

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Emmaus Life Sciences Inc (OTCQX:EMMA) reported its 3Q financial results that showed the company generated revenue of $5.8 million, up 3% from the $5.6 million it posted during the same period last year.

The results showed the company is progressing its efforts to expand access to Endari, the firm’s prescription L-glutamine oral powder for the treatment of sickle cell disease.

According to the life sciences company, the revenue growth was driven primarily by increasing market acceptance of Endari in the US, and partially offset by discounts afforded customers on bulk orders.

READ: Emmaus Life Sciences announces partnership with UpScript to provide telehealth solutions to sickle cell disease patients

Sequentially, revenue showed a slight decline compared to 2Q 2021, which the company attributed to lower bulk orders in 3Q.

CEO Yutaka Niihara told investors that Emmaus expects its new partnership with UpScript, signed earlier this month, to provide an “important and convenient” telehealth solution for sickle cell disease patients that are already taking or want to take Endari.

Niihara added that a newly signed agreement with Asembia will improve the patient and provider experience with Endari.

“Together, these new relationships will provide sickle cell patients more flexibility in managing this debilitating disease,” the CEO said in a statement accompanying the results.

“Additionally, during the third quarter, we received approval of a Temporary License for Importation of Endari from the Kingdom of Bahrain and submitted a marketing authorization application in the UAE representing the first of several full marketing applications we expect to file in Gulf Cooperation Council states for Endari to treat the approximately 225,000 sickle cell disease patients throughout the Middle East North Africa region.”

The company reported a net loss of $3.2 million or $0.06 per share during the quarter ended September 30, 2021, compared to a $1.6 million profit or $0.03 per share in the comparable year-ago quarter.

Emmaus ended the quarter with $2.3 million in cash and equivalents.

Separately, Emmaus said it had withdrawn its application for marketing authorization for Endari in Switzerland and is considering whether to submit a full dossier instead, due to the relatively small incidence of sickle cell disease in the country.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Story by ProactiveInvestors


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