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Earnings

MedMira Reports Second Quarter Results FY2025

By The Northwire Desk — AI Analysis Apr 01, 2026 · 22:00 MIR · 0.065 MedMira Inc.
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.)

Read the original news release →

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