Innocan Pharma Reports Full Year 2024 Results with Revenues more than Doubling to US $29.4 million

HERZLIYA, Israel and CALGARY, AB, March 31, 2025 /CNW/ -- Innocan Pharma Corporation (CSE:INNO) (FSE: IP4) (OTC:INNPF) (the "Company" or "Innocan"), a pharmaceutical technology company focusing on developing innovative drug delivery platform technologies is pleased to announce its audited financial consolidated results for the year ended December 31, 2024.

Full Year 2024 Financial Highlights

Revenues increased 114.6% year-over-year to US$29.4 million, compared to US$13.7 million in 2023. This significant increase in revenue was primarily due to the robust sales performance of Innocan's subsidiary, BI Sky Global Ltd.

Gross Profit increased 118.6% year-over-year to US$26.2 million for the year ended December 31, 2024, compared to US$12.0 million for 2023.

Operating loss decreased by 67% to US$1.2 million in 2024, compared to US$3.8 in 2023.

Management Comments

Iris Bincovich, the CEO of Innocan commented: "We are delighted with our strong financial performance in 2024, concluding with outstanding year-end results. This achievement reflects our team's unwavering commitment to excellence, innovation, and strategic execution.  We are focused on moving ahead aggressively on our two pathways, Human & Animal, ...