ODI Pharma AB (“ODI” or the “Company”) announces today that the preliminary financial results for the third quarter of fiscal year 2023/2024 are expected to surpass current market expectations. Initial figures for this period indicate that revenues will exceed SEK 13.5 million. This growth mainly comes from an increase in orders following our strategic partnership in Eastern Europe.
"These extraordinary results mark a turning point in ODI Pharma’s operations and demonstrate the potential of our business model. The substantial increase in orders, following our collaboration with Synoptis Pharma, has been instrumental in expanding our market presence in Eastern Europe. We are optimistic about our continued success and continued supply of medicinal cannabis for the Eastern European markets," says Volker Wiederrich, ODI Pharma’s Chairman.
For the third quarter of fiscal year 2023/2024, sales are expected to exceed SEK 13.5 million. This increase in revenue largely results from our successful partnership with Synoptis Pharma ("Synoptis"), which has led to several product shipments.
The interim report for the third quarter of 2023/2024 is scheduled to be published on May 30.
This information is such information that ODI Pharma AB is obliged to publish in accordance with the EU Market Abuse Regulation (MAR). The information was submitted, through the agency of the contact person below, for publication on May 2 2024.
For more information on ODI Pharma, please contact:
Volker Wiederrich, Chairman, ODI Pharma AB
E-mail: info@odipharma.com
ODI Pharma AB
ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer and representative of finished pharmaceutical cannabis with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma intends to provide a high-quality product at a competitive price compared to competitors in Poland, thereby becoming the number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.