TLT vs DMCompare the financials. I realize TLT is Cancer reasearch driven but some similiar love would be appreciated.
-
Total revenue increased 7%, year over year and is primarily attributed to a recovery in the Canadian and United States (“US”) economies from the COVID-19 pandemic, as a majority of healthcare practitioners in 2020 elected to temporarily close their practices and place any purchasing decisions on temporary or permanent hold.
Net loss decreased 34%, year over year and is primarily attributed to the following:
1) Significant delay in patient enrollment and treatment due to the COVID-19 pandemic, resulting in decreased research and development expenses in Study II.
2) Decreased salaries due to the COVID-19 pandemic, resulting in the resignation or termination of certain non-essential administrative, research and production personnel.
The Anti-Cancer Therapy (“ACT”) division represented $2,325,340 of this loss (74%) for the nine-month period ended September 30, 2021.
Financial highlights for the 9 month period ended September 30, 2021:
| Unaudited Consolidated Statements of Operations | 2021 | 2020 | Change |
| In Canadian Dollars | $ | $ | % |
| | | | |
| Revenue | | | |
| Canada | 501,523 | 449,359 | +12 | % |
| United States | 52,100 | 52,074 | 0 | % |
| International | 13,189 | 26,041 | -49 | % |
| Total Revenue | 566,812 | 527,474 | +7 | % |
| | | | |
| Cost of Sales | 317,397 | 383,990 | -17 | % |
| Gross Margin | 249,415 | 143,484 | +74 | % |
| Gross Margin as a percentage of sales | 44% | 27% | |
| | | | |
| Operating Expenses | | | |
| Selling Expenses | 271,708 | 333,863 | -19 | % |
| Administrative Expenses | 1,211,834 | 1,522,179 | -20 | % |
| Research and Development Expenses – CLT Division | 254,228 | 259,507 | -2 | % |
| Research and Development Expenses – ACT Division | 1,782,187 | 2,830,417 | -37 | % |
| Other(1) | (140,810) | (86,711) | 62 | % |
| Total Operating Expenses | 3,379,146 | 4,859,255 | -30 | % |
| | | | |
| Net Loss | (3,129,731) | (4,715,771 | -34 | % |
- Clinical Study Sites (“CSS”)