Cyclopharm Limited provided 1HFY22 business update

Cyclopharm Limited (ASX: CYC) provided an update on its unaudited forecasted preliminary financial performance for the half-year to 30 June 2022.

• The unaudited company’s revenue is anticipated to be approx. AU$ 11.3 million, up 36% from the previous corresponding period and 74% higher than its pre-COVID revenues in 1H 2019.
• The company’s third-party distribution business continues to deliver exceptionally strong growth, with revenue of approx. AU$3.7 million in 1H 2022, representing an increase of approximately 139% on the previous corresponding period.
• Cyclopharm is in the progress of completing USFDA approval to start commercial sales of Technegas in the US market in mid-2023, which is in line with the previous expectations.
• The company’s net cash position is approx. AU$26 million at 30 June 2022 and is in a strong financial position to deliver on FDA approval and beyond PE strategy.

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