Reported Earnings • Sep 14
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: CA$0.079 loss per share (further deteriorated from CA$0.077 loss in 2Q 2023). Revenue: CA$14.1m (up 4.2% from 2Q 2023). Net loss: CA$7.81m (loss widened 21% from 2Q 2023). Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) also missed analyst estimates by 60%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has fallen by 55% per year, which means it is performing significantly worse than earnings. Price Target Changed • Sep 13
Price target decreased by 20% to CA$0.40 Down from CA$0.50, the current price target is provided by 1 analyst. New target price is 515% above last closing price of CA$0.065. Stock is down 76% over the past year. The company is forecast to post a net loss per share of CA$0.27 next year compared to a net loss per share of CA$0.32 last year. Annuncio • Sep 09
Valeo Pharma Inc. to Report Q3, 2024 Results on Sep 12, 2024 Valeo Pharma Inc. announced that they will report Q3, 2024 results After-Market on Sep 12, 2024 Annuncio • Aug 07
Valeo Pharma Inc. Announces Board Changes Valeo Pharma Inc. announced Mr. Steve Saviuk will remain on the company’s board of directors and assume the role of Chairman. Mr. Richard J. MacKay will step down from his role of chairman of the board and will remain a board member. Annuncio • Jun 18
Valeo Pharma Inc. Appoints Al Moghaddam as Chief Development Officer and Consequently Steps Down from its Board of Directors Valeo Pharma Inc. announced that Mr. Al Moghaddam has been appointed to the newly created role of Chief Development Officer (CDO) and consequently he is stepping down from the Company's Board of Directors. As Valeo's new CDO, Mr. Moghaddam will lead the design and implementation of strategies to identify and negotiate with financial parties with a view to strengthening the Company's capital structure in order to finance the future growth and development of the Company. He will work directly with the senior management team to plan, review, and revise the company's development programs. Mr. Moghaddam will also support the development and growth of the business through building relationships in the industry, identifying both product and M&A opportunities. Mr. Moghaddam is a customer centric transformational life sciences leader with over 25 years of global experience. His work experience spans from large multinationals through to early-stage companies and he has held leadership positions within pharma, medical device, med-tech, and consumer markets. He is a strong visionary, process driven leader, able to craft a vision and motivate teams to achieve superior results and recognized by such companies as Allergan, Bristol Myers Squibb, Teva & Pharmascience for outstanding performance in creating value. Al has cross functional experience in product life cycle management, sales, BD&L, market access, marketing, finance & M&A. New Risk • Jun 17
New major risk - Revenue and earnings growth Earnings have declined by 44% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$9.2m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-CA$55m). Earnings have declined by 44% per year over the past 5 years. Market cap is less than US$10m (CA$10.9m market cap, or US$7.89m). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Reported Earnings • Jun 16
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: CA$0.079 loss per share (further deteriorated from CA$0.077 loss in 2Q 2023). Revenue: CA$14.1m (up 4.2% from 2Q 2023). Net loss: CA$7.81m (loss widened 21% from 2Q 2023). Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) also missed analyst estimates by 60%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has fallen by 51% per year, which means it is performing significantly worse than earnings. Annuncio • Jun 06
Valeo Pharma Inc. to Report Q2, 2024 Results on Jun 13, 2024 Valeo Pharma Inc. announced that they will report Q2, 2024 results After-Market on Jun 13, 2024 New Risk • Apr 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.8m (US$9.49m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$8.1m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Negative equity (-CA$47m). Market cap is less than US$10m (CA$12.8m market cap, or US$9.49m). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$17m net loss next year). Shareholders have been diluted in the past year (17% increase in shares outstanding). Annuncio • Mar 22
Valeo Pharma Inc. Announces Appointment of Al Moghaddam to Board of Directors Valeo Pharma Inc. announced that Mr. Al Moghaddam has joined the Company's Board of Directors. Mr. Moghaddam is a customer centric transformational life sciences leader with over 25 years of global experience. His work experience spans from large multinationals through to early-stage companies and he has held leadership positions within pharma, medical device, med-tech, and consumer markets. He is a strong visionary, process driven leader, able to craft a vision and motivate teams to achieve superior results and recognized by such companies as Allergan, Bristol Myers Squibb, Teva & Pharmascience for outstanding performance in creating value. Al has cross functional experience in product life cycle management, sales, BD&L, market access, marketing, finance & M&A. Reported Earnings • Mar 15
First quarter 2024 earnings released First quarter 2024 results: Net income: (up CA$6.25m from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has fallen by 44% per year, which means it is performing significantly worse than earnings. New Risk • Mar 15
New major risk - Revenue and earnings growth Earnings have declined by 50% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$21m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Negative equity (-CA$40m). Earnings have declined by 50% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$17m net loss next year). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$19.2m market cap, or US$14.2m). Annuncio • Mar 08
Valeo Pharma Inc. to Report Q1, 2024 Results on Mar 14, 2024 Valeo Pharma Inc. announced that they will report Q1, 2024 results After-Market on Mar 14, 2024 Annuncio • Feb 27
Valeo Pharma Inc., Annual General Meeting, Apr 25, 2024 Valeo Pharma Inc., Annual General Meeting, Apr 25, 2024. Annuncio • Feb 13
Valeo Pharma Inc. Announces Board Changes Valeo Pharma Inc. announced that Messrs. Robert Raich and Charles Bisaillon have joined the Company's Board of Directors and that Messrs. Michel Trudeau, Stuart Fowler, Didier Leconte and Ms. Tamara Close have all resigned from its Board of Directors. More about Robert Raich; Prior to establishing RaichLegal Inc, Robert Raich was a senior partner at Spiegel Sohmer Inc., a Montreal firm specializing in taxation law, where he served as managing partner for over 25 years. His areas of expertise include taxation advice for real estate transactions, advice to both purchasers and vendors in acquisitions and sales of businesses, corporate reorganizations, venture capital financing and charitable planning. Mr. Raich graduated from McGill University and was called to the Barreau du Quebec in 1976. He has been recognized on several occasions as one of the Best Lawyers in Canada in the fields of Taxation law and Law of Estates and Trusts in Canada and has been a frequent guest lecturer at McGill University Faculty of Law and tax conferences. More about Charles Bisaillon; Charles Bisaillon is an entrepreneurial-minded leader who loves rapidly scaling organizations in both wholesale & direct-to-consumer channels. Charles is currently President and owner of Airtek Ltée, a leading Canadian manufacturing company, established in Montreal Quebec since 1970. Charles is also the Chief Financial Officer Groupe J.B a residential, commercial & institutional construction company. Mr. Bisaillon graduated from l'École des sciences de la gestion, UQAM. He is a chartered professional accountant of Canada (CPA Canada). Price Target Changed • Feb 05
Price target decreased by 12% to CA$0.72 Down from CA$0.82, the current price target is an average from 2 analysts. New target price is 179% above last closing price of CA$0.26. Stock is down 57% over the past year. The company is forecast to post a net loss per share of CA$0.21 next year compared to a net loss per share of CA$0.32 last year. Major Estimate Revision • Feb 05
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CA$74.4m to CA$64.1m. Forecast losses increased from -CA$0.14 to -CA$0.19 per share. Healthcare industry in Canada expected to see average net income growth of 21% next year. Consensus price target reaffirmed at CA$0.82. Share price fell 21% to CA$0.26 over the past week. Reported Earnings • Jan 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: CA$0.32 loss per share (further deteriorated from CA$0.32 loss in FY 2022). Revenue: CA$53.9m (up 94% from FY 2022). Net loss: CA$27.8m (loss widened 8.0% from FY 2022). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 12%. Over the last 3 years on average, earnings per share has fallen by 40% per year whereas the company’s share price has fallen by 38% per year. Annuncio • Jan 23
Valeo Pharma Inc. to Report Q4, 2023 Results on Jan 29, 2024 Valeo Pharma Inc. announced that they will report Q4, 2023 results After-Market on Jan 29, 2024 New Risk • Jan 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 17% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$35m). Negative equity (-CA$35m). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$17m net loss next year). Currently unprofitable and not forecast to become profitable next year (CA$17m net loss next year). Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (CA$23.2m market cap, or US$17.2m). Market cap is less than US$100m (CA$23.2m market cap, or US$17.2m). Annuncio • Nov 21
Valeo Pharma Inc. Announces Chief Financial Officer Changes Valeo Pharma Inc. announced the appointment of Mr. Pascal Tougas to the position of Chief Financial Officer, effective November 20, 2023. Joining the Valeo leadership team, Mr. Tougas will succeed Luc Mainville, who is leaving the Company after 5 years to pursue other ventures. Pascal is a seasoned senior pharmaceutical executive with a strong finance profile. With a passion for driving value in organizations, Pascal has a track record of collaboration, forward strategic thinking, operational and financial business acumen, and execution. Pascal spent 11 years at Sanofi Canada in roles of increasing responsibility where he served as Country Head, Trade and Revenue Management, Chief Financial Officer Canada interim and Director Controlling and Operations Canada amongst others. Pascal holds a bachelor's degree in business administration from the HEC Montreal and a CPA designation. Annuncio • Nov 08
Valeo Pharma Inc. Announces Appointment of Mr. Richard Lajoie to Board of Directors Valeo Pharma Inc. announced that Mr. Richard Lajoie has joined the Company's Board of Directors and that Ms. Maureen C. Brennan has retired from its Board of Directors. ichard Lajoie has been recognized over the last 24 years as an inspirational and creative leader with a strong capacity to build high performing teams. Richard was President of Bausch Health, Canada from 2017 to 2021 before being promoted to President Ortho Dermatologics US based in New Jersey. He has led innovative business model transformations, many new launches and completed successful business development deals. Prior to Bausch Health, Richard spent 12 years with Novartis Pharmaceuticals in roles of increasing responsibility (Sales, Marketing, Government Affairs and Medical) located in Montreal, Calgary and Copenhagen where he led Denmark, Norway and Iceland as General Manager for Novartis Oncology. New Risk • Oct 31
New major risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$13.8m (US$9.99m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Negative equity (-CA$35m). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$17m net loss next year). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (CA$13.8m market cap, or US$9.99m). New Risk • Oct 16
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: CA$28m Forecast net loss in 1 year: CA$17m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Negative equity (-CA$35m). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$17m net loss next year). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (CA$16.8m market cap, or US$12.3m). Major Estimate Revision • Sep 20
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CA$61.3m to CA$57.6m. Losses expected to increase from CA$0.20 per share to CA$0.25. Healthcare industry in Canada expected to see average net income growth of 17% next year. Consensus price target down from CA$1.47 to CA$0.72. Share price fell 10% to CA$0.27 over the past week. Price Target Changed • Sep 16
Price target decreased by 16% to CA$1.23 Down from CA$1.47, the current price target is an average from 3 analysts. New target price is 357% above last closing price of CA$0.27. Stock is down 53% over the past year. The company is forecast to post a net loss per share of CA$0.24 next year compared to a net loss per share of CA$0.32 last year. Reported Earnings • Sep 15
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: CA$0.069 loss per share (further deteriorated from CA$0.058 loss in 3Q 2022). Revenue: CA$14.1m (up 132% from 3Q 2022). Net loss: CA$5.84m (loss widened 23% from 3Q 2022). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Healthcare industry in Canada. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 40% per year, which means it has not declined as severely as earnings. Annuncio • Sep 08
Valeo Pharma Inc. to Report Q3, 2023 Results on Sep 13, 2023 Valeo Pharma Inc. announced that they will report Q3, 2023 results After-Market on Sep 13, 2023 Annuncio • Sep 01
Valeo Pharma Inc. announced that it has received CAD 4.499999 million in funding from Investissement Québec Valeo Pharma Inc. announced a non-brokered private placement of 13,999,997 units of the company at a price of CAD 0.28 per unit for gross proceeds of CAD 3,919,999 and entered into a loan agreement with a related party for a principal amount of CAD 580,000 bearing annual interest at a rate of 12%; for aggregate total gross proceeds of CAD 4,499,999 on August 31, 2023. The transaction included participation from Investissement Québec for CAD 2 million and insiders for CAD 1,421,000. Each unit consist of one class A share of the company and one-half share purchase warrant of the company. Each full warrant entitles the holder to purchase one share in the capital of the company at the price of CAD 0.35 per warrant share for a period of 60 months from the closing date of the transaction. In the event that the daily volume weighted average trading price of the shares over any ten consecutive trading days is greater or equal to CAD 0.70, the company may give notice to the warrant holder, at any time after the first 12 months following the closing, that all outstanding warrants must be exercised within a period of 30 days from the date of receipt of the notice, failing which the warrants will automatically expire. The common shares and the warrants are subject to a statutory 4 month hold period under the applicable securities laws. Major Estimate Revision • Jul 06
Consensus EPS estimates upgraded to CA$0.18 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -CA$0.207 to -CA$0.183 per share. Revenue forecast steady at CA$61.2m. Healthcare industry in Canada expected to see average net income growth of 19% next year. Consensus price target of CA$1.48 unchanged from last update. Share price rose 5.3% to CA$0.40 over the past week. Board Change • Jun 29
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Marc Leger was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Jun 23
Valeo Pharma Inc. Announces Board Appointments Valeo Pharma Inc. announced that Ms. Tamara Close and Mr. Didier Leconte have joined its Board of Directors. Following the appointment of Ms. Close and Mr. Leconte, Valeo's Board of Directors is now comprised of 8 Directors, 5 of whom are independent. Ms. Close is a senior investment and Environmental, Social and Governance (ESG) professional with over 25 years of experience in capital markets, with roles spanning sell-side trading and institutional sales to buy-side research, risk management and strategy. She is the founder and managing partner of Close Group Consulting, an independent, boutique ESG advisory firm headquartered in Montreal, with offices in Toronto, Boston, and London (UK). Tamara is a sought-after speaker and regularly publishes ESG thought leadership and research. Ms. Close holds an M.Sc. Finance from Concordia University with a B.A. Economics from McGill University and is a Chartered Financial Analyst (CFA). Mr. Didier Leconte is a highly experienced investor and Canadian life sciences leader. He has deep commercial experience in Canada and Québec's technology transfer and investment arenas. With a strong dedication to the development of Québec's and Canada's life sciences industries, Didier served as Vice-president, Life Science & Technology for Investissement Quebec and Vice-president Life Sciences at Fonds de solidarité FTQ. Mr. Leconte holds a MBA, Technology Management & Innovation from the Université du Québec à Montréal, a certification in governance from Université Laval and an engineering degree in Material Sciences from École d'ingénieurs Sup Galilée, Institut Galilée, Université Sorbonne Paris Nord. Breakeven Date Change • Jun 17
Forecast breakeven date pushed back to 2025 The 4 analysts covering Valeo Pharma previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 85% per year to 2024. The company is expected to make a profit of CA$13.5m in 2025. Average annual earnings growth of 72% is required to achieve expected profit on schedule. Reported Earnings • Jun 15
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: CA$0.077 loss per share (further deteriorated from CA$0.063 loss in 2Q 2022). Revenue: CA$13.6m (up 184% from 2Q 2022). Net loss: CA$6.48m (loss widened 27% from 2Q 2022). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Healthcare industry in Canada. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Annuncio • Jun 09
Valeo Pharma Inc. to Report Q2, 2023 Results on Jun 13, 2023 Valeo Pharma Inc. announced that they will report Q2, 2023 results After-Market on Jun 13, 2023 Reported Earnings • Mar 17
First quarter 2023 earnings: EPS misses analyst expectations First quarter 2023 results: CA$0.077 loss per share (further deteriorated from CA$0.074 loss in 1Q 2022). Revenue: CA$13.2m (up 210% from 1Q 2022). Net loss: CA$6.25m (loss widened 6.6% from 1Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.7%. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Healthcare industry in Canada. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Mar 02
Independent Director exercised options to buy CA$151k worth of stock. On the 27th of February, Vincent Hogue exercised options to buy 265k shares at a strike price of around CA$0.40, costing a total of CA$106k. This transaction amounted to 105% of their direct individual holding at the time of the trade. Since March 2022, Vincent has owned 252.41k shares directly. Company insiders have collectively bought CA$2.5b more than they sold, via options and on-market transactions, in the last 12 months. Annuncio • Feb 08
Valeo Pharma Obtains Public Reimbursement for Onstryv in Quebec Valeo Pharma Inc. announced that Onstryv (safinamide) for the treatment of patients suffering from Parkinson's disease, is now listed for public reimbursement on the Public Prescription Drug Insurance Plan of the Quebec Régie de l'assurance maladie du Québec ("RAMQ"), effective February 1, 2023. Onstryv® is approved by Health Canada as an add-on therapy to a regimen that includes levodopa for the treatment of the signs and symptoms of idiopathic Parkinson's Disease in patients experiencing "off" episodes. Onstryvâ is a prescription medication available at pharmacies across Canada in 50mg and 100mg tablets. Parkinson's Disease is a progressive neurological disease involving the loss of dopamine producing neurons in the brain. While tremors are the best known symptom, Parkinson's Disease also causes other symptoms including slowed movement, rigid muscles, impaired posture and balance, speech and writing difficulties. On a per capita basis, Canada has amongst the higher incidences of Parkinson's Disease in the world and the number of patients is expected to grow significantly over the next thirty years as the median population age increases. Safinamide, known as Onstryv® in Canada and Xadago® in the rest of the world, is a chemical entity with a unique mode of action including selective and reversible MAO-B inhibition. Clinical trials have established its efficacy in controlling motor symptoms and motor complications in the short term, maintaining this effect over 2 years. Results from 24 month double-blind controlled studies suggest that safinamide shows statistically significant effects on motor fluctuations (ON/OFF time) without increasing the risk of developing troublesome dyskinesia. Onstryv® is a once-daily dose and has no diet restrictions due to its high MAO-B/MAO-A selectivity. Major Estimate Revision • Feb 06
Consensus EPS estimates fall by 31% The consensus outlook for fiscal year 2023 has been updated. 2023 losses of -CA$0.17 per share expected, vs -CA$0.13 per share profit forecast previously. Revenue forecast reaffirmed at CA$64.5m. Healthcare industry in Canada expected to see average net income growth of 4.6% next year. Consensus price target of CA$1.63 unchanged from last update. Share price fell 6.3% to CA$0.59 over the past week. Reported Earnings • Feb 01
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: CA$0.32 loss per share (further deteriorated from CA$0.20 loss in FY 2021). Revenue: CA$27.7m (up 105% from FY 2021). Net loss: CA$25.7m (loss widened 81% from FY 2021). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Healthcare industry in Canada. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Annuncio • Jan 27
Valeo Pharma Announces Filing of New Drug Submission-Covid 19 with Health Canada for Sabizabulin for the Treatment of Hospitalized Covid-19 Patients Valeo Pharma Inc. announced that Health Canada has accepted for review Veru's New Drug Submission ("NDS-CV") for sabizabulin for COVID-19. Sabizabulin is a novel dual antiviral and anti-inflammatory agent being developed for the treatment of hospitalized moderate to severe COVID-19 adult patients at high risk for acute respiratory distress syndrome (ARDS) and death. The Phase 3 COVID-19 clinical trial of sabizabulin was a double-blind, randomized, placebo controlled trial conducted in 204 hospitalized COVID-19 patients with moderate to severe COVID-19 (= WHO 4-supplemental oxygen) at high risk for ARDS and death. The primary endpoint was the proportion of deaths by Day 60. Patients in both treatment groups were allowed to receive standard of care treatment, including remdesivir, dexamethasone, anti-IL6 receptor antibodies and JAK inhibitors. Based on a planned interim analysis of the first 150 patients randomized, the Independent Data Monitoring Committee unanimously recommended to halt the study early for clear clinical efficacy and no safety concerns were identified. Treatment with sabizabulin 9 mg once daily, an oral, first-in-class, new chemical entity, microtubule disruptor that has dual anti-inflammatory and antiviral properties, resulted in a clinically meaningful and statistically significant 55.2% relative reduction in deaths compared to placebo. The results of the interim analysis were published in The New England Journal of Medicine (NEJM) Evidence. In the final analysis of all 204 patients, sabizabulin demonstrated a statistically significant 51.6% relative reduction in deaths compared to placebo. Sabizabulin was well tolerated. Valeo previously announced in September 2022 that Veru and Valeo had entered into an agreement under which Valeo is the commercial partner for Veru's product candidate sabizabulin for COVID-19 in Canada. Annuncio • Jan 26
Valeo Pharma Inc. to Report Q4, 2022 Results on Jan 30, 2023 Valeo Pharma Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Jan 30, 2023 Annuncio • Nov 22
Valeo Pharma Inc. Announces Stepping Down of Frederic Fasano as President and Chief Operating Officer Valeo Pharma Inc. announced that Mr. Frederic Fasano has stepped down as Valeo's President and Chief Operating Officer. Mr. Fasano will continue to act as special advisor to the Company and will remain on the Board of Directors. Mr. Fasano's duties and responsibilities are being integrated and assumed by the Company's CEO, Steve Saviuk and its Chief Commercial Officer, Mr. Kyle Steiger. Price Target Changed • Nov 16
Price target increased to CA$1.63 Up from CA$1.33, the current price target is an average from 3 analysts. New target price is 159% above last closing price of CA$0.63. Stock is down 18% over the past year. The company is forecast to post a net loss per share of CA$0.25 next year compared to a net loss per share of CA$0.20 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Michel Trudeau was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Sep 16
Valeo Pharma Inc. Provides Revenue Guidance for the Fourth Quarter of 2022 Valeo Pharma Inc. provided revenue guidance for the fourth quarter of 2022. The company expects revenues in the fourth quarter to exceed $11 million. Reported Earnings • Sep 14
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: CA$0.058 loss per share (further deteriorated from CA$0.042 loss in 3Q 2021). Revenue: CA$6.07m (up 7.2% from 3Q 2021). Net loss: CA$4.74m (loss widened 60% from 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Healthcare industry in Canada. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Annuncio • Sep 10
Valeo Pharma Inc. to Report Q3, 2022 Results on Sep 13, 2022 Valeo Pharma Inc. announced that they will report Q3, 2022 results After-Market on Sep 13, 2022 Annuncio • Aug 31
Valeo Pharma Announces Executive Appointments Valeo Pharma Inc. announced the appointment of Mr. Kyle Steiger to the role of Senior Vice-President and Chief Commercial Officer ("CCO"). Mr. Steiger is a pharmaceutical industry veteran whose diverse work experience includes specialty pharma, biologics, primary care, medical devices, OTC, health policy and market access. He spent nearly 20 years at Novartis Canada in various executive positions including Franchise Head Hematology, Vice-President Primary Care and most recently Vice-President Ophthalmology. Valeo also announced that Mr. Jean-François Fournier has joined as its new Business Unit Head – Ophthalmology. Prior to joining Valeo, Jean-François served as Commercial Director – Marketing & Sales at Novartis Canada. Major Estimate Revision • Jun 21
Consensus revenue estimates fall by 24% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CA$36.0m to CA$27.3m. Forecast losses increased from -CA$0.17 to -CA$0.23 per share. Healthcare industry in Canada expected to see average net income growth of 6.8% next year. Consensus price target down from CA$1.70 to CA$1.33. Share price rose 19% to CA$0.62 over the past week. Recent Insider Transactions • Jun 19
Key Executive recently bought CA$113k worth of stock On the 16th of June, Richard MacKay bought around 217k shares on-market at roughly CA$0.52 per share. This was the largest purchase by an insider in the last 3 months. Richard has been a buyer over the last 12 months, purchasing a net total of CA$816k worth in shares. Breakeven Date Change • Jun 17
No longer forecast to breakeven The 3 analysts covering Valeo Pharma no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$2.96m in 2023. New consensus forecast suggests the company will make a loss of CA$1.82m in 2024. Reported Earnings • Jun 15
Second quarter 2022 earnings: EPS in line with expectations, revenues disappoint Second quarter 2022 results: CA$0.063 loss per share (down from CA$0.028 loss in 2Q 2021). Revenue: CA$4.77m (up 80% from 2Q 2021). Net loss: CA$5.10m (loss widened 173% from 2Q 2021). Revenue missed analyst estimates by 27%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 204%, compared to a 22% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Annuncio • Jun 09
Valeo Pharma Inc. to Report Q2, 2022 Results on Jun 14, 2022 Valeo Pharma Inc. announced that they will report Q2, 2022 results After-Market on Jun 14, 2022 Board Change • May 01
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Michel Trudeau was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Apr 27
Price target decreased to CA$1.70 Down from CA$1.87, the current price target is an average from 3 analysts. New target price is 227% above last closing price of CA$0.52. Stock is down 56% over the past year. The company is forecast to post a net loss per share of CA$0.17 next year compared to a net loss per share of CA$0.20 last year. Major Estimate Revision • Mar 31
Consensus EPS estimates fall by 42% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CA$38.1m to CA$36.0m. Losses expected to increase from CA$0.12 per share to CA$0.17. Healthcare industry in Canada expected to see average net income growth of 5.0% next year. Consensus price target of CA$1.70 unchanged from last update. Share price fell 4.4% to CA$0.65 over the past week. Recent Insider Transactions Derivative • Mar 12
Key Executive exercised options to buy CA$1.5m worth of stock. On the 4th of March, Richard MacKay exercised options to buy 3m shares at a strike price of around CA$0.40, costing a total of CA$1.0m. This transaction amounted to 30% of their direct individual holding at the time of the trade. Since March 2021, Richard's direct individual holding has increased from 8.15m shares to 8.76m. Company insiders have collectively bought CA$2.5m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Mar 03
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: CA$0.20 loss per share (down from CA$0.082 loss in FY 2020). Revenue: CA$13.6m (up 82% from FY 2020). Net loss: CA$14.2m (loss widened 199% from FY 2020). Revenue missed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 174%, compared to a 33% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Annuncio • Feb 26
Valeo Pharma Inc., Annual General Meeting, Apr 27, 2022 Valeo Pharma Inc., Annual General Meeting, Apr 27, 2022. Annuncio • Feb 22
Valeo Pharma Inc. to Report Q4, 2021 Results on Feb 28, 2022 Valeo Pharma Inc. announced that they will report Q4, 2021 results After-Market on Feb 28, 2022 Price Target Changed • Jan 12
Price target decreased to CA$1.77 Down from CA$1.97, the current price target is an average from 3 analysts. New target price is 145% above last closing price of CA$0.72. Stock is down 43% over the past year. The company is forecast to post a net loss per share of CA$0.15 next year compared to a net loss per share of CA$0.082 last year. Annuncio • Jan 06
Valeo Pharma's Hespercotm Now Available At Loblaws, Hesperidin Covid-19 Clinical Trial Results Submitted for Publication Valeo Pharma Inc. announced that Hesperco, its unique flavonoid formulation approved by Health Canada for immune support, is now available for sale in approximately 300 stores under the Loblaw's banners including Loblaws, Dominion, Zehrs, Fortinio's, Your Independent Grocer and Superstore. Annuncio • Nov 25
Valeo Pharma Inc. announced that it expects to receive CAD 20 million in funding from Investissement Québec, Investment Arm and other investors Valeo Pharma Inc. announced a bought deal private placement of 10,000 convertible unsecured debentures at a price of CAD 1,000 per debenture for gross proceeds of CAD 10,000,000 and private placement of 10,000 convertible unsecured debentures at a price of CAD 1,000 per debenture for gross proceeds of CAD 10,000,000 to Investissement Québec, Investment Arm for aggregate gross proceeds of CAD 20,000,000 on November 24, 2021. The debentures are being issued at par. The debentures will mature on December 31, 2024 and will accrue interest at the rate of 12% per annum, payable quarterly beginning on March 31, 2022. At the holders' option, the debentures may be converted into common shares of the company at any time and from time to time, up to the maturity date, at a conversion price of CAD 1.15 per common share. The company has granted the underwriters an option to purchase up to an additional CAD 1,500,000 aggregate principal amount of debentures, exercisable at any time up to 48 hours prior to the closing. The closing is expected to occur on or about December 9, 2021 and is subject to certain conditions, including but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange. The company will use commercially reasonable efforts to list the debentures on the Canadian Securities Exchange. The debentures and any common shares issuable upon conversion thereof will be subject to a statutory hold period lasting four months and one day following the closing date. Recent Insider Transactions • Oct 23
Key Executive recently bought CA$90k worth of stock On the 20th of October, Richard MacKay bought around 100k shares on-market at roughly CA$0.90 per share. In the last 3 months, they made an even bigger purchase worth CA$360k. Richard has been a buyer over the last 12 months, purchasing a net total of CA$703k worth in shares. Recent Insider Transactions • Oct 08
Key Executive recently bought CA$75k worth of stock On the 1st of October, Richard MacKay bought around 100k shares on-market at roughly CA$0.75 per share. In the last 3 months, there was an even bigger purchase from another insider worth CA$100k. Richard has been a buyer over the last 12 months, purchasing a net total of CA$253k worth in shares. Recent Insider Transactions • Oct 02
Key Executive recently bought CA$78k worth of stock On the 27th of September, Richard MacKay bought around 109k shares on-market at roughly CA$0.72 per share. In the last 3 months, there was an even bigger purchase from another insider worth CA$100k. Richard has been a buyer over the last 12 months, purchasing a net total of CA$178k worth in shares. Reported Earnings • Sep 24
Third quarter 2021 earnings released: CA$0.042 loss per share (vs CA$0.028 loss in 3Q 2020) The company reported a solid third quarter result with improved revenues and control over costs, although losses increased. Third quarter 2021 results: Revenue: CA$5.67m (up 280% from 3Q 2020). Net loss: CA$2.97m (loss widened 84% from 3Q 2020). Recent Insider Transactions • Jul 18
Senior VP & CFO recently bought CA$100k worth of stock On the 15th of July, Luc Mainville bought around 150k shares on-market at roughly CA$0.67 per share. In the last 3 months, they made an even bigger purchase worth CA$200k. Luc has been a buyer over the last 12 months, purchasing a net total of CA$316k worth in shares. Annuncio • Jul 15
Valeo Pharma Announces Additional Provincial Reimbursement Coverage for Redesca™ and Redesca HP™ Valeo Pharma Inc. announced that Redesca™ and Redesca HP™, its low molecular weight heparin ("LMWH") biosimilar, is now covered for public reimbursement in 7 provinces and territories across the country in addition to several governmental agencies and 70% of privately insured lives in Canada for private payer health plans reimbursement. Amongst Canadian provinces, territories and governmental agencies presently publicly covering Redesca™ and Redesca HP™ for reimbursement are, Alberta, Manitoba, Ontario, New Brunswick, Prince Edward Island, Newfoundland, Northwest Territories, Non Insured Health Benefits for registered First Nations and recognized Inuit and Veterans Affairs Canada. Public reimbursement coverage in the remaining provinces is anticipated by the end of the year. Redesca is a low molecular weight heparin biosimilar. LMWHs are injectable anticoagulant drugs used primarily to treat and prevent deep vein thrombosis and pulmonary embolism. Redesca has more than 8 years of proven in-market safety internationally. and more than 150 million patient days treated in Europe alone. Recent Insider Transactions • Jul 01
Senior VP & CFO recently bought CA$200k worth of stock On the 29th of June, Luc Mainville bought around 200k shares on-market at roughly CA$1.00 per share. This was the largest purchase by an insider in the last 3 months. Luc has been a buyer over the last 12 months, purchasing a net total of CA$216k worth in shares. Reported Earnings • Jul 01
Second quarter 2021 earnings released: CA$0.028 loss per share (vs CA$0.015 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: CA$2.65m (up 27% from 2Q 2020). Net loss: CA$1.87m (loss widened 117% from 2Q 2020). Annuncio • Jun 30
Valeo Pharma Inc. has completed a Composite Units Offering in the amount of CAD 10 million. Valeo Pharma Inc. has completed a Composite Units Offering in the amount of CAD 10 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 9,000,000
Price\Range: CAD 1
Discount Per Security: CAD 0.07
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 1,000,000
Price\Range: CAD 1
Discount Per Security: CAD 0.035 Annuncio • Jun 23
Valeo Pharma Inc. Announces Commercial Launch of Enerzair Breezhaler and Atectura Breezhaler Valeo Pharma Inc. announced that commercialization of Enerzair Breezhaler and Atectura Breezhaler has commenced following product shipments across Canada and the initial deployment of its national respiratory sales force. At present, almost 4 million Canadians are living with asthma1, a serious health issue affecting all age groups. Patients with severe asthma live in fear of potential exacerbations which remain highly prevalent even with today's most advanced therapies. Asthma related exacerbations are concerning because of their associated mortality burden and also because of the increased risk of side effects from the use of systemic corticosteroids. Furthermore, there is growing evidence highlighting the lack of symptom control currently achieved in asthma. 39% of patients remain uncontrolled, despite available dual LABA/ICS medications, primarily due to low adherence, treatment misuse and poor inhaler technique. There is an urgent need to add effective maintenance treatment options to more efficiently address symptoms as well as asthma related long-term complications and mortality. Annuncio • May 27
Valeo Pharma Inc. Announces Outlook for Its Second Quarter Ended April 30, 2021 Valeo Pharma Inc. announced outlook for its second quarter ended April 30, 2021. The company expects to record revenues, up more than 40% over prior quarter. Annuncio • Apr 28
Valeo Pharma Inc. announced that it has received CAD 6.645 million in funding On April 27, 2021, Valeo Pharma Inc. (CNSX:VPH) closed the transaction. The company has amended the terms of the transaction. The company issued 6,645 unsecured non-convertible debentures units for gross proceeds of CAD 6,645,000. The transaction included participation from insiders, senior executives, staff members and three directors of the company for CAD 2,600,000. The company has paid finders fees of CAD 38,500 and issued 7,700 broker warrants in relation to the transaction. The securities issued are subject to a hold period of four months from the closing of the transaction. Recent Insider Transactions • Apr 23
President recently bought CA$176k worth of stock On the 15th of April, Frederic Fasano bought around 154k shares on-market at roughly CA$1.14 per share. This was the largest purchase by an insider in the last 3 months. Frederic has been a buyer over the last 12 months, purchasing a net total of CA$199k worth in shares. Annuncio • Apr 16
Valeo Pharma Inc. announced that it expects to receive CAD 4 million in funding Valeo Pharma Inc. (CNSX:VPH) announced a non-brokered private placement of up to 4,000 unsecured non-convertible debenture units at a price of CAD 1,000 per debenture unit for maximum gross proceeds of CAD 4,000,000 on April 14, 2021. Each debenture unit will consist of one unsecured non-convertible debenture of the company in the principal amount of CAD 1,000 and 200 class A share purchase warrants. The debentures will mature at least 9 months after the closing and will bear interest at a rate of 8%. Each warrant entitles the holder to purchase one class A share of the company at an exercise price of CAD 0.60 at any time up to 24 months following the closing date. The closing of the transaction is expected to occur on or about April 23, 2021 and is subject to regulatory approval including that of the Canadian Stock Exchange. The Company may pay finder's fees on the non-insider portion of the private placement, in compliance with applicable securities laws. All securities issued in connection with the private placement will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation. The transaction will include participation from the insiders for CAD 2,600,000. Reported Earnings • Apr 03
First quarter 2021 earnings released: CA$0.027 loss per share (vs CA$0.02 loss in 1Q 2020) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: CA$1.86m (up 11% from 1Q 2020). Net loss: CA$1.73m (loss widened 56% from 1Q 2020). Reported Earnings • Feb 27
Full year 2020 earnings released: CA$0.082 loss per share (vs CA$0.073 loss in FY 2019) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: CA$7.47m (up 14% from FY 2019). Net loss: CA$4.76m (loss widened 32% from FY 2019). Analyst Estimate Surprise Post Earnings • Feb 27
Revenue misses expectations Revenue missed analyst estimates by 6.6%. Over the next year, revenue is forecast to grow 181%, compared to a 74% growth forecast for the Healthcare industry in Canada. Annuncio • Feb 26
Valeo Pharma Inc., Annual General Meeting, Apr 28, 2021 Valeo Pharma Inc., Annual General Meeting, Apr 28, 2021. Location: Kirkland Quebec Canada Is New 90 Day High Low • Feb 26
New 90-day low: CA$0.99 The company is down 14% from its price of CA$1.15 on 27 November 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Healthcare industry, which is up 9.0% over the same period. Annuncio • Feb 20
Valeo Pharma Inc. to Report Q4, 2020 Results on Feb 24, 2021 Valeo Pharma Inc. announced that they will report Q4, 2020 results After-Market on Feb 24, 2021 Annuncio • Feb 18
Valeo Pharma Inc. and Ingenew Pharma Inc. Announce HespercoTM Capsules Valeo Pharma Inc. and Ingenew Pharma Inc. announced that HespercoTM capsules, approved by Health Canada for immune support, will be at the core of the Montreal Heart Institute's ("MHI") clinical trial, "The Hesperidin Coronavirus Study". The MHI's study will evaluate the effect of hesperidin on COVID-19 symptoms and its ability to reduce disease severity and the need for hospitalization in patients with COVID-19. The randomized, double-blind, placebo controlled study will enroll 216 confirmed COVID-19 symptomatic patients.