WINNIPEG, Manitoba, Nov. 28, 2025 (GLOBE NEWSWIRE) — Kane Biotech Inc. (TSXV:KNE) (“Kane Biotech”, “Kane” or the “Company”) today announced its third quarter 2025 financial results.
Third Quarter 2025 Financial Highlights (Comparatives exclude discontinued STEM Animal Health “STEM” Operations):
Total revenue for the three months ended September 30, 2025 was $8,499 compared to $1,282,698 in the three months ended September 30, 2024. The vast majority of revenue recorded in the comparative quarter was related to an animal health manufacturing agreement which terminated in Q1 2025 as well as the recognition of revyve® product revenue related to a subsequently terminated US distribution agreement.
Gross profit (loss) for the third quarter of 2025 was $(5,128), compared to a gross profit of $558,754 for the third quarter of 2024.
Total operating expenses for the three months ended September 30, 2025 were $538,306 compared to $1,170,064 for the three months ended September 30, 2024. The reduction in operating expenses is due primarily to a reduction in staff, lower short and long-term compensation expenses and lower business development costs in the current period.
Net loss for the third quarter of 2025 was $(607,345) compared to a net loss of $(678,636) for the quarter ended September 30, 2024.
Cash as of September 30, 2025 was $939,062.
Kane Biotech’s September 30, 2025 Financial Statements and the Management Discussion and Analysis with regards thereto are now available on SEDAR+ and the Company’s website.
Corporate Update:
Efforts are well underway in all three pillars of Kane’s three-pillar strategy to significantly impact wound care in the United States:
Conduct a U.S.-based case series demonstrating the clinical use of revyve.
Report data at leading U.S. wound and burn care meetings.
Rebuild the U.S. distributor and sales agent network.
In September, Kane announced that it had enrolled 28 participants in its revyve Antimicrobial Wound Gel and Spray U.S. Case Series Studies, exceeding its 25-participant target. …
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