Earnings
MedMira Reports First Quarter Results FY2026
MIR · Price
Executive Summary
- Health Canada approved MedMira’s Reveal® TP (Syphilis) rapid test in Q1 FY2026, adding to its portfolio of approved rapid diagnostics.
- The company reported Q1 FY2026 financial results: revenue $54,208; gross profit $42,300; operating expenses $635,122; net loss $813,134.
- Initiated Phase 2 clinical trials for the Multiplo® Complete Syphilis (TP/nTP) antibody test, with expected completion in Q1 2026, and is advancing commercial development of its MiROQ diagnostic platform.
Key Details
- Regulatory Milestone: Health Canada approval received for Reveal® TP rapid test, enabling nationwide distribution and provincial validation efforts.
- Clinical Development: Phase 2 of Multiplo® Complete Syphilis (TP/nTP) antibody test commenced in November 2025; data from Phase 1 published in BMC Infectious Diseases. Completion targeted for Q1 2026.
- Revenue: $54,208 in Q1 FY2026 vs. $61,723 YoY.
- Gross Profit: $42,300 in Q1 FY2026 vs. $52,778 YoY.
- Operating Expenses: $635,122 in Q1 FY2026 (down from $1,111,283 YoY).
- Net Loss: $813,134 in Q1 FY2026 (improved from $1,300,549 YoY).
- Asset Change: Decrease of $86,053 primarily due to building depreciation.
- Liability Increase: Total liabilities up $727,081; current liabilities rose 11% ($2,491,290) driven by investor advances and higher short‑term debt.
- Working Capital Deficit: Expanded to $2,502,278 (12% increase).
- MiROQ Platform: Working on commercial prototype and AI‑enabled software; strategic partnership being structured to accelerate market entry.
Notable Quotes
(No direct quotes were provided in the release.)