Earnings
MedMira Reports Second Quarter Results FY2025
MIR · Price
Executive Summary
- MedMira reported Q2 FY2026 revenue of $24,503 and a net loss of $1,199,918, reflecting a significant decline from the prior quarter and year‑over‑year periods.
- The company signed a distribution agreement with McKesson to expand access to its FDA‑approved and Health Canada‑approved product lines in the U.S. and Canada.
- First‑phase clinical trial results for the Multiplo® Complete Syphilis (TP/nTP) antibody test were published, showing high sensitivity and specificity; data have been submitted to Health Canada for review.
Key Details
- Distribution Agreement: Partnership with McKesson (U.S.) and McKesson Canada to distribute all MedMira FDA‑approved products, the Miriad line (RUO), and Health Canada‑approved products such as Multiplo® TP/HIV rapid test.
- Clinical Trial Publication: First‑phase results for Multiplo® Complete Syphilis (TP/nTP) published in BMC Infectious Diseases; high sensitivity/specificity demonstrated; submission to Health Canada pending.
- Regulatory Progress: Clinical trials for Multiplo® TP/HIV self‑test progressing toward required numbers for Canadian regulatory approval; company plans to be first to market with a combined TP/HIV self‑test in Canada.
- MiROQ Technology Development: Ongoing prototype work on patented diagnostic system; first version of supporting software solution completed.
Financial Highlights – Profit & Loss
- Revenue: $24,503 (Q2 FY2026) vs. $54,208 (Q1 FY2026) and $69,001 (same quarter prior year).
- Gross Profit: $18,132 (Q2 FY2026) vs. $42,300 (Q1 FY2026) and $45,643 (prior year same quarter).
- Operating Expenses: $423,180 (Q2 FY2026) vs. $635,122 (Q1 FY2026) and $1,141,481 (prior year same quarter).
- Net Loss: $1,199,918 (Q2 FY2025) vs. $590,789 (quarter last year).
Balance Sheet Highlights
- Assets: Decrease of $18,213 between Q1 and Q2 FY2026 due to cash offset by depreciation of corporate assets.
- Liabilities: Increase of $639,339; current liabilities up $623,180 mainly from accounts payable and accrued liabilities.
- Loans in Default: Up $201,541 owing to USD/CHF fluctuations; ongoing negotiations to restructure debt terms.
- Working Capital Deficit: Increased 2% to $567,328 versus prior quarter.
Notable Quotes
(No direct quotes were provided in the release.)