aibioUniverse Pharmaceuticals says its 20-F will be late, expects $20.33 million net loss
Tickers UPC
The company expects a net loss of about $20.33 million for the year ended September 30, 2024, up from $6.16 million a year earlier.
Key facts
- Company
- Universe Pharmaceuticals Inc (NASDAQ: UPC)
- News type
- Distress
- Primary source
- Universe Pharmaceuticals Inc NT 20-F (2025-01-27)
Universe Pharmaceuticals Inc (Nasdaq: UPC) said on January 27, 2025 that it cannot file its annual report on Form 20-F for the fiscal year ended September 30, 2024 on time. It filed a Form 12b-25, a notice of late filing.
The company says compiling and reviewing the required information has imposed time constraints. Its independent registered public accounting firm needs more time to finish its review of the financial statements. Universe anticipates filing no later than the fifteenth calendar day after the due date.
The notice also gives expected results, which are subject to the auditor completing its audit. Universe expects significant changes from the fiscal year ended September 30, 2023:
Revenue of approximately $23.02 million, a decrease of approximately $9.28 million, or 28.7%, from approximately $32.31 million.
Gross profit of approximately $6.07 million, a decrease of approximately $4.24 million, or 41.1%, from approximately $10.32 million.
A net loss of approximately $20.33 million, an increase of approximately $14.16 million, compared with a net loss of $6.16 million.