Sunshine Biopharma, Inc. (NASDAQ: SBFM) stock saw a sharp increase after the release of its 2024 financial report. SBFM shares rose 55.50% to $3.25 as of the most recent pre-market check. On Tuesday, April 1, 2025, the company formally submitted its annual report on Form 10-K, demonstrating remarkable financial expansion.
Initiatives for Sales Growth and Expansion
In 2024, Sunshine Biopharma reported a significant growth in sales, reaching $34.9 million, a noteworthy 45% increase over $24.1 million in the prior year. In order to finance the growth of its sales activities, SBFM also successfully concluded an underwritten public offering, raising about $10 million in gross revenues.
Sunshine Biopharma introduced 13 new generic prescription medications in the last year, greatly expanding its pharmaceutical offering. Nine of these were disseminated through strategic partnerships, while four were introduced under cross-licensing agreements. Additionally, Health Canada granted SBFM regulatory authority to sell NIOPEG, a NEULASTA biosimilar, enhancing its portfolio of cancer medications.
Breakthrough Therapeutics Research
With its discoveries published in the Journal of Medicinal Chemistry, Sunshine Biopharma also achieved significant strides in therapeutic development. In a mouse model of SARS-CoV-2 infection, the study demonstrated the sub-micromolar potency and great in vivo efficiency of Sunshine Biopharma’s new coronavirus PLpro inhibitor,
That highlighted its exceptional efficacy and was an important milestone in the company’s continuous attempts to create novel treatments for serious illnesses is this peer-reviewed study.
Furthermore, Sunshine Biopharma’s K1.1 mRNA Lipid Nanoparticle showed potential as a new therapeutic agent for human hepatocellular carcinoma after completing proof-of-concept animal model studies. As the third most common cause of cancer-related fatalities globally, this kind of liver cancer continues to be a serious global health problem.
Prospects for the Future and Strategic Development
Sunshine Biopharma is unwavering in its desire to turn a profit and further its in-house medication research initiatives. As it works to introduce new life-saving medications to the market, SBFM expects to see further growth prospects in 2025 and beyond.
