Brief: Medipharm Labs Reports Third Quarter 2020 Results

Medipharm Labs

16/11/2020 12:30

Nov 16 (Reuters) - Medipharm Labs Corp  LABS.TO :
    * MEDIPHARM LABS REPORTS THIRD QUARTER 2020 RESULTS
    * MEDIPHARM LABS CORP QTRLY REVENUE WAS $4.9 MILLION,
COMPARED TO
$13.9 MILLION IN Q2 2020
    * MEDIPHARM LABS CORP - CASH AND EQUIVALENTS BALANCE AT
SEPTEMBER
30, 2020, WAS $36.5 MILLION
    * MEDIPHARM LABS CORP - ANNOUNCED DEPARTURES OF ROBERT KWON,
CFO
AND CO'S CHIEF MARKETING OFFICER
    * MEDIPHARM LABS CORP - A SEARCH PROCESS HAS BEEN INITIATED
FOR A
NEW CFO
    * MEDIPHARM LABS - EXPECTS REVENUE FROM PORTFOLIO OF
DOMESTIC AND
INTERNATIONAL SALES AGREEMENTS WILL GROW BEGINNING EARLY IN 2021
    * MEDIPHARM LABS -DURING,SUBSEQUENT TO Q3, PRODUCTION
PROCESSES
REFINED, WORKFORCE WAS STREAMLINED BY 20% REPRESENTING $3MLN
ANNUALIZED COST REDUCTIONS

Source text for Eikon:  ID:nGNX6bsZpG 
Further company coverage:  LABS.TO 

 ((Reuters.Briefs@thomsonreuters.com;))