By John Vandermosten, CFA
OTC:BIOAF
READ THE FULL BIOAF RESEARCH REPORT
Third Quarter Operational & Financial Results
Bioasis Technologies Inc. (OTC:BIOAF) filed fiscal year 2021 third quarter operational and financial results on January 27, 2021. During the reporting period, Bioasis was granted new patents, sold a royalty stake in partnered assets and held its annual general meeting (AGM). Since our previous report on November 20th, the company has announced AGM results, participated in industry conferences and raised additional capital with a non-brokered private placement.
No revenues were reported in 3Q:21, compared to revenues of $183,000 (1) in 3Q:20, which were received as license revenues from a leading pharmaceutical company. General and administrative expense was $537,000, up 10% on increases in office, insurance and amortization, salaries and consulting, legal, professional and regulatory expenses, investor relations, marketing and travel. This was partially offset by a decrease in share-based compensation. Research and development expanded to $292,000, up 41%. Increases in patent maintenance, legal and filing fees, and preclinical research expenses contributed to the change.