Kane Biotech Announces Second Quarter 2025 Financial Results
Kane Biotech (TSX-V:KNE) reported challenging Q2 2025 financial results, with revenue declining to $27,997 from $620,437 in Q2 2024, primarily due to the sale of its animal health business. The company posted a net loss of $(348,541), improved from $(1,215,996) in the previous year.
Key developments include the election of three new directors to the board, termination of the ProgenaCare distribution agreement, and conversion of a $1 million insider loan into a convertible debenture. The company faces challenges with a PrairiesCan default notice for approximately $1.4 million outstanding.
Kane continues to advance its wound care initiatives, presenting preclinical data at major conferences and conducting clinical case studies for its revyve庐 portfolio, while seeking new US distribution partners.
Kane Biotech (TSX-V:KNE) ha comunicato risultati finanziari difficili per il secondo trimestre 2025, con ricavi scesi a $27.997 rispetto a $620.437 nel Q2 2024, principalmente a seguito della cessione del business per la salute animale. La societ脿 ha registrato una perdita netta di $(348.541), migliorata rispetto a $(1.215.996) dell鈥檃nno precedente.
Tra gli sviluppi principali: l鈥檈lezione di tre nuovi amministratori, la risoluzione dell鈥檃ccordo di distribuzione con ProgenaCare e la conversione di un prestito interno da $1 milione in un鈥檕bbligazione convertibile. La societ脿 deve inoltre affrontare una notifica di inadempienza da PrairiesCan per circa $1,4 milioni ancora dovuti.
Kane prosegue con le attivit脿 nel settore della cura delle ferite, presentando dati preclinici a importanti conferenze e conducendo studi clinici di casi per la linea revyve庐, oltre a cercare nuovi partner distributivi negli Stati Uniti.
Kane Biotech (TSX-V:KNE) inform贸 resultados financieros dif铆ciles en el segundo trimestre de 2025, con ingresos que cayeron a $27,997 desde $620,437 en el Q2 de 2024, principalmente por la venta de su negocio de salud animal. La compa帽铆a registr贸 una p茅rdida neta de $(348,541), mejorando respecto a $(1,215,996) del a帽o anterior.
Desarrollos clave incluyen la elecci贸n de tres nuevos directores al consejo, la terminaci贸n del acuerdo de distribuci贸n con ProgenaCare y la conversi贸n de un pr茅stamo interno de $1 mill贸n en un pagar茅 convertible. Adem谩s, la compa帽铆a enfrenta una notificaci贸n de incumplimiento de PrairiesCan por aproximadamente $1.4 millones pendientes.
Kane sigue avanzando en sus iniciativas de cuidado de heridas, presentando datos precl铆nicos en conferencias importantes y llevando a cabo estudios cl铆nicos de casos para su portafolio revyve庐, mientras busca nuevos socios de distribuci贸n en EE. UU.
Kane Biotech (TSX-V:KNE)電� 2025雲� 2攵勱赴 鞁れ爜鞚� 攵�歆勴枅雼り碃 氚滍憸頄堨姷雼堧嫟. 毵れ稖鞚� 霃欕 瓯搓皶 靷梾 毵り皝鞚� 鞓來枼鞙茧 2024雲� 2攵勱赴鞚� $620,437鞐愳劀 $27,997搿� 臧愳唽頄堨姷雼堧嫟. 靾滌啇鞁れ潃 $(348,541)搿� 歆戧硠霅橃柎 鞝勲厔鞚� $(1,215,996)鞐愳劀 臧滌劆霅橃棃鞀惦媹雼�.
欤检殧 靷暛鞙茧電� 鞚挫偓須岇棎 鞁犾瀯 鞚挫偓 3鞚� 靹犾瀯, ProgenaCare 鞙犿喌 瓿勳暯 頃挫, 攴鸽Μ瓿� $100毵� 雮措秬雽�於�鞚� 鞝勴櫂靷眲頇旉皜 鞛堨姷雼堧嫟. 霕愴暅 鞎� $140毵岇潣 氙胳旮夓暋鞐� 雽�頃� PrairiesCan鞚� 毂勲攵堨澊頄� 韱奠毳� 氚涥碃 鞛堧姅 靸來櫓鞛呺媹雼�.
Kane電� 靸侅矘 旃橂 攵勳暭鞐愳劀 鞝勳瀯靸� 雿办澊韯半ゼ 欤检殧 頃欗殞鞐愳劀 氚滍憸頃橁碃 revyve庐 韽姼韽措Μ鞓れ潣 鞛勳儊 靷 鞐瓣惮毳� 歆勴枆頃橂姅 霌� 鞐瓣惮毳� 歆�靻嶍晿電� 頃滍幐, 氙戈淡 雮� 鞁犼窚 鞙犿喌 韺岉姼雱堧ゼ 氇儔頃橁碃 鞛堨姷雼堧嫟.
Kane Biotech (TSX-V:KNE) a publi茅 des r茅sultats financiers difficiles pour le deuxi猫me trimestre 2025 : le chiffre d鈥檃ffaires a chut茅 脿 27 997 $ contre 620 437 $ au T2 2024, principalement en raison de la vente de son activit茅 sant茅 animale. La soci茅t茅 a enregistr茅 une perte nette de (348 541 $), en am茅lioration par rapport 脿 (1 215 996 $) l鈥檃nn茅e pr茅c茅dente.
Parmi les faits marquants : l鈥櫭﹍ection de trois nouveaux administrateurs, la r茅siliation de l鈥檃ccord de distribution avec ProgenaCare et la conversion d鈥檜n pr锚t interne de 1 M$ en une d茅benture convertible. La soci茅t茅 fait 茅galement face 脿 un avis de d茅faut de PrairiesCan concernant environ 1,4 M$ impay茅s.
Kane poursuit le d茅veloppement de ses initiatives en soins des plaies, pr茅sentant des donn茅es pr茅cliniques lors de conf茅rences majeures et r茅alisant des 茅tudes de cas cliniques pour sa gamme revyve庐, tout en recherchant de nouveaux partenaires de distribution aux 脡tats-Unis.
Kane Biotech (TSX-V:KNE) meldete schwierige Finanzergebnisse f眉r das zweite Quartal 2025: Der Umsatz sank auf $27.997 gegen眉ber $620.437 im Q2 2024, haupts盲chlich infolge des Verkaufs des Gesch盲ftsbereichs Tiergesundheit. Das Unternehmen verzeichnete einen Nettoverlust von $(348.541), eine Verbesserung gegen眉ber $(1.215.996) im Vorjahr.
Wesentliche Entwicklungen sind die Wahl von drei neuen Direktoren in den Vorstand, die Beendigung des Vertriebsvertrags mit ProgenaCare und die Umwandlung eines $1 Mio. Insider-Darlehens in eine wandelbare Schuldverschreibung. Zudem liegt eine Zahlungsaufforderung von PrairiesCan wegen etwa $1,4 Mio. ausstehenden Forderungen vor.
Kane treibt weiterhin seine Wundversorgungsprojekte voran, stellte pr盲klinische Daten auf wichtigen Konferenzen vor und f眉hrt klinische Fallstudien f眉r das revyve庐-Portfolio durch, w盲hrend nach neuen Vertriebspartnern in den USA gesucht wird.
- Net loss improved significantly to $(348,541) from $(1,215,996) year-over-year
- Operating expenses reduced substantially from $1,463,397 to $229,930
- Board strengthened with three new qualified directors
- $1M insider loan converted to long-term convertible debenture due 2030
- Advancing clinical case series studies for revyve portfolio
- Revenue declined drastically to $27,997 from $620,437 year-over-year
- Gross profit turned negative at $(45,526) compared to $360,490 in Q2 2024
- Received default notice from PrairiesCan for $1.4M outstanding debt
- Terminated exclusive distribution agreement with ProgenaCare due to material breaches
WINNIPEG, Manitoba, Aug. 28, 2025 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX-V:KNE) (鈥淜ane Biotech鈥�, 鈥淜ane鈥� or the 鈥淐ompany鈥�) today announced its second quarter 2025 financial results.
Second Quarter 2025 Financial Highlights (Comparatives exclude discontinued STEM Animal Health 鈥淪TEM鈥� Operations):
- Total revenue for the three months ended June 30, 2025 was
$27,997 compared to$620,437 in the three months ended June 30, 2024. Almost all revenue recorded in the comparative quarter was related to the Company鈥檚 animal health business that was sold in the second quarter of 2024.
- Gross profit (loss) for the second quarter of 2025 was
$(45,526) , compared to a gross profit of$360,490 for the second quarter of 2024.
- Total operating expenses for the three months ended June 30, 2025 were
$229,930 compared to$1,463,397 for the three months ended June 30, 2024. The reduction in operating expenses is due primarily to a reduction in staff, a reversal of accrued bonuses, expense recovery associated with previously awarded restricted share units and a one-time adjustment to legal expenses in the current period as well as contract research expenditures related to the Company鈥檚 revyve庐 Antimicrobial Wound Gel product development that were incurred in the comparative period.
- Net loss for the second quarter of 2025 was
$(348,541) compared to a net loss of$(1,215,996) for the quarter ended June 30, 2024.
Kane Biotech's June 30, 2025 Financial Statements and the Management Discussion and Analysis with regards thereto are now available on SEDAR+ and the Company鈥檚 website.
Corporate Update:
At its Annual and Special Meeting of Shareholders held on June 25, 2025, three new directors, Ms. Anne Greven, Mr. Shameze Rampertab and Dr. David Kideckel, were elected along with the reelection of three existing directors, Mr. Philip Renaud, Dr. John Coleman and Dr. Robert Huizinga, to the board of directors. Biographies of all directors are available on Kane鈥檚 website.
On August 27, 2025, the Board of Directors appointed Mr. Rampertab as Chair of the Audit and Compensation Committee and Ms. Greven as Chair of the Governance & Nomination & Governance Committee. The Board also designated Mr. Coleman as Lead Independent Director to enhance independent oversight.
Kane Biotech recently presented novel preclinical data and clinical case observations at two major North American wound care conferences: Nurses Specialized in Wound, Ostomy and Continence Canada (NSWOCC) 44th National Conference (May 21鈥�25, 2025), and the Symposium on Advanced Wound Care (SAWC) Spring Conference (April 30鈥揗ay 4, 2025). The publications can be found .
Kane continues to engage with key wound care and burn specialists in the United States and is completing a revyve clinical case series program that is being conducted by these specialists. Kane expects to generate additional clinical data and anticipates presenting results at future medical meetings in 2025 and 2026.
In Q2, 2025, the Company terminated its exclusive distribution agreement with ProgenaCare due to material breaches of the agreement. Management has commenced discussions with potential new distributors. The Company has already mobilized its US-labelled inventory to a distribution center in the US to facilitate shipments to future US distribution partners.
Kane Biotech recently completed the conversion of an unsecured demand loan of
The Company recently received a notice of default from Prairies Economic Development Canada (鈥楶rairiesCan鈥�) relating to approximately
鈥淲e are continuing to execute on the plan laid out at our last AGM. With key U.S. case series studies now underway, we anticipate generating compelling clinical evidence. Our presentations at recent wound care conferences generated meaningful engagement with both clinicians and potential partners, highlighting the market potential for our revyve portfolio. We are continuing our efforts to create meaningful distributor networks in the US. Corporately, the refreshing of our Board by the addition of three highly qualified directors strengthens our strategic capabilities at a pivotal stage of the company鈥檚 growth,鈥� said Dr. Robert Huizinga, Interim CEO. 鈥淲e believe these efforts will support adoption and accelerate commercialization of revyve while driving long-term shareholder value.鈥�
About Kane Biotech
Kane Biotech is developing novel wound care treatments that disrupt biofilms and transform healing outcomes. Biofilms are one of the main contributors to antibiotic resistance in wounds which results in serious clinical outcomes and significant cost. revyve庐 addresses both biofilms and wound bacteria. revyve庐 Antimicrobial Wound Gel and revyve庐 Antimicrobial Wound Gel Spray are US FDA 510(k) cleared. revyve庐 Antimicrobial Wound Gel is Health Canada approved. To learn more about revyve, visit .
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| For more information: Dr. Robert Huizinga Interim CEO Kane Biotech Inc. [email protected] (780) 970-1100 | Ray Dupuis Chief Financial Officer Kane Biotech Inc. [email protected] (204) 298-2200 |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
This press release contains certain statements regarding Kane Biotech Inc. that constitute forward-looking information under applicable securities聽law.聽These statements reflect management鈥檚 current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. These risks and uncertainties include, but are not limited to, risks relating to the Company鈥檚: (a) financial condition, including lack of significant revenues to date and reliance on equity and other financing; (b) business, including its early stage of development, government regulation, market acceptance for its products, rapid technological change and dependence on key personnel; (c) intellectual property including the ability of the Company to protect its intellectual property and dependence on its strategic partners; and (d) capital structure, including its lack of dividends on its common shares, volatility of the market price of its common shares and public company costs. Further information about these and other risks and uncertainties can be found in the disclosure documents filed by the Company with applicable securities regulatory authorities, available at聽. The Company cautions that the foregoing list of factors that may affect future results is not听别虫丑补耻蝉迟颈惫别.
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