First Quarter 2026 Financial Highlights:
Total revenue for the three months ended March 31, 2026 was $43,218 compared to $412,513 in three months ended March 31, 2025. Revenue in the period reflects early-stage commercialization of revyve wound gel alongside the liquidation of the Company's DermaKB® product line. The prior-year period included legacy animal health operations, underscoring the Company's transition to a focused human wound care strategy. The Company is now focused on accelerating the commercialization of the revyve® product line in both Canada and the United States.
Gross profit (loss) for the first quarter of 2026 was $(3,899) compared to a gross profit of $42,447 for the first quarter of 2025 reflecting the Company's early commercialization phase and initial market build-out.
Total operating expenses for the three months ended March 31, 2026 were $669,402 compared to $1,203,505 for the three months ended March 31, 2025. The decrease is primarily attributable to a disciplined cost structure, including lower staffing levels, reduced incentive compensation and lower product development expenses while continuing to invest in key areas such as patent-related costs.
Net loss for the first quarter of 2026 was $(714,827) compared to a net loss of ($1,218,497) for the quarter ended March 31, 2025, representing a significant year-over-year improvement.
Cash at March 31, 2026 was $395,058, with additional capital raised subsequent to quarter-end strengthening the Company's liquidity position.
Kane Biotech's March 31, 2026 Financial Statements and the Management Discussion and Analysis with regards thereto are now available on SEDAR+ and the Company's website.
Corporate Update:
During the first quarter of 2026 and subsequent to quarter-end, Kane Biotech made meaningful progress executing its strategy to commercialize its revyve antimicrobial wound care portfolio, building momentum across commercial, clinical and regulatory fronts.
Commercial and Distribution Activities
During Q1 2026, the Company rapidly expanded its commercial activities in North America through the execution of multiple non-exclusive distribution and sales agent agreements across targeted U.S. markets and sales channels. This approach represents a strategic shift towards a diversified, multi-channel model designed ...
