MedMira Reports First Quarter 2025 Results

MedMira Inc. has reported its financial results for Q1 FY2025, ending October 31, 2024. The company has advanced its regulatory and clinical trials for its Reveal® G4 HIV-1/2 rapid test in the U.S., progressing towards a CLIA-waiver. Meanwhile, it secured Health Canada's approval for the Multiplo® Rapid TP/HIV Test.

Partnership with REACH Nexus has resulted in securing funding from the Canadian Institute of Health Research for the Multiplo® Complete Syphilis Test trials. MedMira anticipates launching the Multiplo® TP/HIV in Canada in January 2025, backed by a strong distribution network.

Financially, the company recorded a revenue decrease to $61,723 and a net loss of $1,300,549. Operating expenses rose due to expanding trials. Assets decreased, whereas liabilities increased, contributing to a higher working capital deficit of $1,398,803.