{"id":390089,"date":"2020-11-30T18:24:04","date_gmt":"2020-11-30T23:24:04","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=390089"},"modified":"2020-11-30T18:24:04","modified_gmt":"2020-11-30T23:24:04","slug":"khiron-reports-third-quarter-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/khiron-reports-third-quarter-2020-financial-results\/","title":{"rendered":"Khiron Reports Third Quarter 2020 Financial Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<ul type=\"disc\">\n<li>Company surpassed 5,600 patient prescriptions for its medical cannabis products in <span class=\"xn-location\">Colombia<\/span>. Prescriptions filled increased over 450% in Q3 2020 over Q2 2020 <\/li>\n<li>Khiron declared a National Strategic Project by the Government of <span class=\"xn-location\">Colombia<\/span>, simplifying and accelerating administration and processes for the Company in executing strategic projects in <span class=\"xn-location\">Colombia<\/span> and for export <\/li>\n<li>Subsequent to the quarter, the Company completed a bought deal financing on <span class=\"xn-chron\">November 26, 2020<\/span>, selling 32,200,000 units at a price of <span class=\"xn-money\">$0.45<\/span> per unit for aggregate gross proceeds of <span class=\"xn-money\">$14,490,000<\/span> CAD <\/li>\n<li>Khiron signed partnerships with 15 clinics and health centres in <span class=\"xn-location\">Colombia<\/span>, extending education and sales reach further across the country <\/li>\n<li>As a result of the Company&#8217;s Doctor Zerenia<sup>TM<\/sup> telehealth platform more than 25% of the Company&#8217;s medical cannabis prescriptions came from outside of <span class=\"xn-location\">Bogota<\/span>, expanding geographic presence of its Colombian clinics <\/li>\n<li>Company achieved first sales of High CBD medical cannabis through private pharmacies in <span class=\"xn-location\">Peru<\/span>. Additional approval received from <span class=\"xn-location\">Peru&#8217;s<\/span> drug regulatory authority for Company&#8217;s High THC cannabis, with first prescriptions anticipated in Q1 2021 <\/li>\n<li>Expanded medical cannabis E-Learning platform to UK market in partnership with Medical Cannabis Clinicians Society (&#8220;MCCS&#8221;) <\/li>\n<li>Entered an exclusive partnership with Rappi SAS, <span class=\"xn-location\">Latin America&#8217;s<\/span> largest home multi-vertical app platform to distribute the Company&#8217;s CPG product portfolio, introducing Kuida products to Rappi users across the LatAm region <\/li>\n<li>Signed agreement to distribute the Company&#8217;s Kuida<sup>TM<\/sup> CBD skincare brand through pharmacy, beauty retail and online markets serving the <span class=\"xn-location\">Hong Kong<\/span> territory, with first orders expected in Q4 2020 <\/li>\n<li>Prudent cash use of <span class=\"xn-money\">$5 million<\/span> in Q3 2020, compared with <span class=\"xn-money\">$4 million<\/span> in Q2 2020, <span class=\"xn-money\">$12 million<\/span> in Q1 2020 and <span class=\"xn-money\">$10 million<\/span> in Q4 2019<\/li>\n<\/ul>\n<p \/>\n<p>\n        <span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">Nov. 30, 2020<\/span> \/PRNewswire\/ &#8211;\u00a0Khiron Life Sciences Corp. (&#8220;Khiron&#8221; or the &#8220;Company&#8221;) (TSXV: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2996669-1&amp;h=2026653043&amp;u=https%3A%2F%2Fwww.newswire.ca%2Fnews-releases%2Fkhiron-life-sciences-to-present-as-lead-sponsor-in-first-cannatech-panama-global-medical-cannabis-summit-816331667.html%23financial-modal&amp;a=KHRN\" rel=\"nofollow noopener noreferrer\">KHRN<\/a>), (OTCQX: KHRNF), (<span class=\"xn-location\">Frankfurt<\/span>: A2JMZC), a vertically integrated cannabis leader with core operations in <span class=\"xn-location\">Latin America<\/span> and <span class=\"xn-location\">Europe<\/span>, announced today its financial results for the quarter ended <span class=\"xn-chron\">September 30, 2020<\/span>. These filings are available for review on the Company&#8217;s SEDAR profile at\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2996669-1&amp;h=4290731868&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2816349-1%26h%3D1162605476%26u%3Dhttps%253A%252F%252Fc212.net%252Fc%252Flink%252F%253Ft%253D0%2526l%253Den%2526o%253D2483143-1%2526h%253D3897346384%2526u%253Dhttp%25253A%25252F%25252Fwww.sedar.com%25252F%2526a%253Dwww.sedar.com%26a%3Dwww.sedar.com&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>\u00a0All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1345231\/Khiron_Life_Sciences_Corp__Khiron_Reports_Third_Quarter_2020_Fin.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1345231\/Khiron_Life_Sciences_Corp__Khiron_Reports_Third_Quarter_2020_Fin.jpg\" title=\"Khiron Life Sciences Corp. Logo (CNW Group\/Khiron Life Sciences Corp.)\" alt=\"Khiron Life Sciences Corp. Logo (CNW Group\/Khiron Life Sciences Corp.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Summary of Key Quarterly Financial Results<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbts prnsbr1 prnvab prnsbbs prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Canadian dollars<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prnsbts prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbls prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3 Months<br \/>ended Sept<br \/>30 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3 Months<br \/>Ended Sept 30<br \/>2019<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9 Months<br \/>ended Sept<br \/>30 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9 Months<br \/>Ended Sept 30<br \/>2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenues (&#8216;000s)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,928<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,773<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,499<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,072<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross profit before fair value adjustments (&#8216;000s)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>323<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">593<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,079<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,388<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">General and administrative costs (&#8216;000s)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(5,341)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,330)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(15,719)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12,264)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss (&#8216;000s)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(6,715)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(10,621)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(21,665)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(28,143)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA\u00a0<sup>(1)\u00a0<\/sup>(&#8216;000s)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(4,706)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,438)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(14,426)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18,162)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss per share (basic and diluted)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbls prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.06)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.09)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.19)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.29)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average shares outstanding (&#8216;000s)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbls prnpr8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>117,644<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">113,997<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>116,937<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">97,448<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable4571\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt0 prnsbr0 prnbcc prnsbb0 prnsbl0\">\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvat prnsbtb0 prntar prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization or in this case loss) is a non-IFRS measure calculated as net loss before tax as reported under International Financial Reporting Standards and adding back share-based compensation, fair value adjustments on biological asset, transaction fees, depreciation, interest expense and non-recurring items. Refer to the Company&#8217;s MD&amp;A for a reconciliation.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Discussion of Operations for the Three Months Ending <span class=\"xn-chron\">September 30, 2020<\/span><br \/><\/b>The Company recorded a net loss of <span class=\"xn-money\">$6.7 million<\/span> in the third quarter of 2020. This compares to a net loss of <span class=\"xn-money\">$10.6 million<\/span> in the prior year third quarter. On an adjusted EBITDA basis Q3 2020 was a <span class=\"xn-money\">$4.7 million<\/span> loss compared to the adjusted loss of <span class=\"xn-money\">$5.4 million<\/span> in Q3 2019 (see <i>Adjusted EBITDA<\/i> for calculation). <\/p>\n<p>\n        <i><br \/>\n          <u>Q3 2020 and the impact of COVID-19<\/u><br \/>\n        <\/i>\u00a0\u2013 starting in <span class=\"xn-chron\">March 2020<\/span>, the Company&#8217;s health centres experienced a decline in patient visits due to the Colombian government&#8217;s strict quarantine regulations which required the Company to limit the number of patient visits and suspend surgeries. During Q3 2020, following the launch of teleconsultation services in <span class=\"xn-chron\">April 2020<\/span> and the resumption of surgeries in <span class=\"xn-chron\">May 2020<\/span>, the number of patient services increased and have now surpassed levels observed at the beginning of the year, including complex services such as surgeries. The Company experienced a 12% increase in service revenues from Q2 2020. The Company experienced a 34% decline in service revenues in Q3 2020 compared to Q3 2019. The Company has maintained the cost cutting measures implemented during the second quarter.<\/p>\n<p>Throughout Q3 2020, the Company sold increasing levels of both low- and high-THC medical cannabis through its health centres in <span class=\"xn-location\">Colombia<\/span> and pharmacy partners. Revenue contributions were <span class=\"xn-money\">$0.1 million<\/span> in the quarter, a 514% increase from Q2 2020 as prescriptions and sales accelerated on a weekly basis. Cultivation is increasingly focused on growing for commercial sales purposes and less on research and development. In Q3 2020, the Company capitalized <span class=\"xn-money\">$0.3 million<\/span> in operating costs to inventory and recorded its fair value gain on biological assets of <span class=\"xn-money\">$0.6 million<\/span>.<\/p>\n<p>\n        <b>Management Commentary<br \/><\/b>&#8220;We have remained fully focused on our sales execution strategy in Q3, while continuing to prudently manage our cash position. Despite the significant impact of the global COVID-19 pandemic we have been able to advance across key sales metrics with our Colombian clinic services returning to pre-pandemic levels of 9,500 monthly consultations and surpassing 5,600\u00a0Khiron medical cannabis prescriptions filled. We welcome the rapid adoption of our Doctor\u00a0Zerenia<sup>TM<\/sup>\u00a0telehealth services which accounted for 55% of prescriptions through the end of October, including 25% from outside of <span class=\"xn-location\">Bogota<\/span>. These are significant advancements in our Colombian business and provide us with proprietary data and experiences that we can adopt as we increase revenue opportunities and utilize towards improving the quality of lives of patients in <span class=\"xn-location\">Latin America<\/span>,&#8221; comments <span class=\"xn-person\">Alvaro Torres<\/span>, Khiron CEO and Director.<\/p>\n<p>\n        <b>Webcast and Q&amp;A <br \/><\/b>Khiron invites individual and institutional investors, as well as advisors and analysts, to attend a webcast and Q&amp;A to discuss the Company&#8217;s Q3 2020 financial statements and further activities.<br \/><b>DATE: <\/b><span class=\"xn-chron\">Tuesday, December 1, 2020<\/span><br \/><b>TIME: <\/b><span class=\"xn-chron\">10:00am EST<\/span>\/<span class=\"xn-chron\">7:00am PST<\/span><br \/><b>PRESENTERS:<\/b><span class=\"xn-person\">Alvaro Torres<\/span>, CEO and Director, <span class=\"xn-person\">Joel Friedman<\/span>, CFO, and\u00a0Chris Naprawa, Chairman<br \/><b>FORMAT:<\/b> Live 20 minutes presentation and Q&amp;A session<br \/><b>REGISTER LINK: <\/b><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2996669-1&amp;h=157349641&amp;u=https%3A%2F%2Fevent.on24.com%2Fwcc%2Fr%2F2819768%2F9328DB919FFBB024F2CF5F4F5119285E&amp;a=https%3A%2F%2Fevent.on24.com%2Fwcc%2Fr%2F2819768%2F9328DB919FFBB024F2CF5F4F5119285E\" rel=\"nofollow noopener noreferrer\">https:\/\/event.on24.com\/wcc\/r\/2819768\/9328DB919FFBB024F2CF5F4F5119285E<\/a><\/p>\n<p>\n        <b>About Khiron Life Sciences Corp.<br \/><\/b>Khiron is a vertically integrated medical and CPG cannabis company with core operations in <span class=\"xn-location\">Latin America<\/span>, and operational activity in <span class=\"xn-location\">Europe<\/span> and North America.\u00a0 Khiron is the leading cannabis company in <span class=\"xn-location\">Colombia<\/span> and the first company licensed in <span class=\"xn-location\">Colombia<\/span> for the cultivation, production, domestic distribution, and international export of both low and high THC medical cannabis products. The Company has presence in <span class=\"xn-location\">Mexico<\/span>, <span class=\"xn-location\">Peru<\/span>, <span class=\"xn-location\">Uruguay<\/span>, <span class=\"xn-location\">Brazil<\/span>, UK, <span class=\"xn-location\">Spain<\/span> and <span class=\"xn-location\">Germany<\/span>, where it is positioned to begin sales of medical cannabis.<\/p>\n<p>Leveraging its first-mover advantage, and patient oriented approach, Khiron combines global scientific expertise, product innovation, agricultural infrastructure, wholly-owned medical clinics, and online doctor education programs to drive prescription and brand loyalty to address priority medical conditions. Its Wellbeing unit launched the first branded CBD skincare brand in <span class=\"xn-location\">Colombia<\/span>, with Kuida<sup>TM<\/sup> now marketed in multiple jurisdictions in <span class=\"xn-location\">Latin America<\/span>, the US and UK. The Company is led by Co-founder and Chief Executive Officer, <span class=\"xn-person\">Alvaro Torres<\/span>, together with an experienced and diverse executive team and Board of Directors.<\/p>\n<p>Visit Khiron online at <a href=\"http:\/\/www.khiron.ca\" rel=\"nofollow\">www.khiron.ca<\/a>, investors.khiron.ca and on Instagram @khironlife.<\/p>\n<p>Cautionary Notes<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>This press release may contain certain &#8220;forward-looking information&#8221; and &#8220;forward-looking statements&#8221; within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron&#8217;s control, including the risk factors discussed in Khiron&#8217;s Annual Information Form which is available on Khiron&#8217;s SEDAR profile at <a href=\"http:\/\/www.sedar.com\" rel=\"nofollow\">www.sedar.com<\/a>. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.<\/p>\n<p>Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO07131&amp;sd=2020-11-30\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/khiron-reports-third-quarter-2020-financial-results-301181960.html\">http:\/\/www.prnewswire.com\/news-releases\/khiron-reports-third-quarter-2020-financial-results-301181960.html<\/a><\/p>\n<p>SOURCE  Khiron Life Sciences Corp.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO07131&amp;Transmission_Id=202011301820PR_NEWS_USPR_____TO07131&amp;DateId=20201130\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Company surpassed 5,600 patient prescriptions for its medical cannabis products in Colombia. Prescriptions filled increased over 450% in Q3 2020 over Q2 2020 Khiron declared a National Strategic Project by the Government of Colombia, simplifying and accelerating administration and processes for the Company in executing strategic projects in Colombia and for export Subsequent to the quarter, the Company completed a bought deal financing on November 26, 2020, selling 32,200,000 units at a price of $0.45 per unit for aggregate gross proceeds of $14,490,000 CAD Khiron signed partnerships with 15 clinics and health centres in Colombia, extending education and sales reach further across the country As a result of the Company&#8217;s Doctor ZereniaTM telehealth platform more than 25% of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/khiron-reports-third-quarter-2020-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Khiron Reports Third Quarter 2020 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-390089","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Khiron Reports Third Quarter 2020 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/khiron-reports-third-quarter-2020-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Khiron Reports Third Quarter 2020 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Company surpassed 5,600 patient prescriptions for its medical cannabis products in Colombia. Prescriptions filled increased over 450% in Q3 2020 over Q2 2020 Khiron declared a National Strategic Project by the Government of Colombia, simplifying and accelerating administration and processes for the Company in executing strategic projects in Colombia and for export Subsequent to the quarter, the Company completed a bought deal financing on November 26, 2020, selling 32,200,000 units at a price of $0.45 per unit for aggregate gross proceeds of $14,490,000 CAD Khiron signed partnerships with 15 clinics and health centres in Colombia, extending education and sales reach further across the country As a result of the Company&#8217;s Doctor ZereniaTM telehealth platform more than 25% of &hellip; Continue reading &quot;Khiron Reports Third Quarter 2020 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/khiron-reports-third-quarter-2020-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-30T23:24:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1345231\/Khiron_Life_Sciences_Corp__Khiron_Reports_Third_Quarter_2020_Fin.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/khiron-reports-third-quarter-2020-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/khiron-reports-third-quarter-2020-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Khiron Reports Third Quarter 2020 Financial Results\",\"datePublished\":\"2020-11-30T23:24:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/khiron-reports-third-quarter-2020-financial-results\\\/\"},\"wordCount\":1340,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/khiron-reports-third-quarter-2020-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1345231\\\/Khiron_Life_Sciences_Corp__Khiron_Reports_Third_Quarter_2020_Fin.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/khiron-reports-third-quarter-2020-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/khiron-reports-third-quarter-2020-financial-results\\\/\",\"name\":\"Khiron Reports Third Quarter 2020 Financial Results - 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