![]() ![]() However, the reality is that this company saw its revenue surge primarily due to an acquisition made last year. ![]() ![]() Indeed, there’s plenty to like about this kind of a revenue surge over the span of a year. Let’s dive into these numbers and what investors should make of these results.Īny sort of incredible year-over-year increase like this is certainly likely to drive some enthusiasm around the stock. However, Sunshine Biopharma’s market capitalization of only $18 million means that such a buyback authorization could be very lucrative for investors over the near to medium term. Accordingly, with the company seeing revenues surge for its core business, Sunshine announced a share buyback program of up to $2 million.įor most companies, such an announcement would be immaterial. The company’s acquisition of Nora Pharma late last year appears to have driven the majority of this revenue increase. And that is exactly the case for Sunshine. That sort of revenue surge is usually indicative of some sort of key catalyst. Indeed, investors saw a 20x year-over-year surge in the company’s top line in just a year’s time. The biotech company’s revenue reportedly surged more than 2,000%. Currently, shares of SBFM stock are up more than 60% after the company announced what appears to be incredible earnings. Canadian biotech company Sunshine Biopharma (NASDAQ: SBFM) is among the leaders in today’s rather volatile session. ![]()
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