{"id":389057,"date":"2020-11-27T09:03:17","date_gmt":"2020-11-27T14:03:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389057"},"modified":"2020-11-27T09:03:17","modified_gmt":"2020-11-27T14:03:17","slug":"ceapro-inc-reports-2020-third-quarter-and-nine-month-financial-results-and-operational-highlights","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ceapro-inc-reports-2020-third-quarter-and-nine-month-financial-results-and-operational-highlights\/","title":{"rendered":"Ceapro Inc. Reports 2020 Third Quarter and Nine-Month Financial Results and Operational Highlights"},"content":{"rendered":"
\n

\n \u2013 R&D activities focused on <\/em>
\n advancing <\/em>
\n the development of innovative delivery systems <\/em>
\n and yeast beta glucan as a potential inhalable therapeutic for COVID-19 <\/em>
\n \u2013<\/em>
\n \n <\/p>\n

\n \u2013<\/em>
\n Q3 2020 sales<\/em>
\n of $<\/em>
\n 3,4<\/em>
\n 7<\/em>
\n 6,000 compared to $<\/em>
\n 2,908<\/em>
\n ,000 for <\/em>
\n Q3<\/em>
\n 2019, <\/em>
\n representing <\/em>
\n a <\/em>
\n 20<\/em>
\n % <\/em>
\n increase \u2013<\/em>\n <\/p>\n

\n \u2013 Net profit of $<\/em>
\n 192<\/em>
\n ,000 for <\/em>
\n Q<\/em>
\n 3<\/em>
\n 2020 vs. net loss of $<\/em>
\n 104<\/em>
\n ,000 for Q<\/em>
\n 3<\/em>
\n 2019 \u2013<\/em>\n <\/p>\n

\n \u2013<\/em>
\n Cash generated from operations of<\/em>
\n $<\/em>
\n 4,777<\/em>
\n ,000 in 2020 vs<\/em>
\n .<\/em>
\n $<\/em>
\n 1,321<\/em>
\n ,000 in 2019<\/em>
\n \u2013<\/em>\n <\/p>\n

\n \u2013<\/em>
\n Maintained production operations during COVID-19 pandemic<\/em>
\n and completed integration of manufacturing sites<\/em>
\n \u2013<\/em>\n <\/p>\n

EDMONTON, Alberta, Nov. 27, 2020 (GLOBE NEWSWIRE) — Ceapro Inc.<\/strong><\/a>(<\/strong>TSX-V: CZO<\/strong>; OTCQX: CRPOF<\/strong>) (\u201cCeapro\u201d or the \u201cCompany\u201d)<\/strong>, a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today announced financial results and operational highlights for the third quarter and the first nine months ended September 30, 2020.<\/p>\n

\u201cOver the course of the third quarter, our operations executed and adapted well, delivering significantly improved year over year results even during the final phase of integration of the production operations and despite the COVID-19 pandemic situation. We successfully completed the full integration of manufacturing operations under one roof in Edmonton, resumed the clinical trial for beta glucan as a cholesterol reducer, as well as the development and optimization of new products developed through the use of our PGX disruptive technology. Additionally, we are extremely proud of our employees who worked tirelessly since the beginning of the year to maintain operations and deliver these solid results despite the COVID-19 pandemic. As we continue to move forward, our focus remains on the health and safety of our associates, followed by business continuity,\u201d stated Gilles Gagnon, M.Sc., MBA, President and CEO<\/a>.<\/p>\n

\n Corporate and Operational Highlights<\/strong>\n <\/p>\n

\n
\n Pipeline Development<\/em>
\n <\/strong>
\n
\n :<\/em>
\n <\/strong>\n <\/p>\n