Apr. 21 at 3:46 PM
$SBFM I don't want to entirely spoil the bear fear mongering party but a few facts are needed here.
SBFM only started selling proper in 2022 and, in that time (via superb decision to acquire Nora Pharma), have grown revenue from
$4.3M to
$40M plus in 2026. Their gross margin was around 34% on generics in 2025 (i.e. a long way from 'no profit'). I agree (as they do) that they have to reduce overhead for this to translate to bottom line and they are doing so. Their last cash raise was for a paltry
$2.5M in April 2025 and their last reverse split was nearly two years ago in 2024. (i.e. far from being an ATM machine). As they have stated, SBFM are striving for profitability to self-fund research rather than relying on big cash raises. You can't have it both ways when it comes to R&D spend. So, in short, SBFM has a real revenue base, improving margins, cash runway, and advancing (preclinical but data-backed) patented assets.
