Company: EDSA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001171843-25-003189
Chunk: 89

Company: Edesa Biotech, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 89
---
 if, together with its affiliates, it would beneficially own in excess of 4.99% (or, at the option of the holder, 9.99%) of the number of common shares outstanding immediately after giving effect to such conversion, provided, however, that a holder may increase or decrease the beneficial ownership limitation by giving 61 days’ notice to the Company, but not to any percentage in excess of 19.99%.

Significant Accounting Policies and Estimates

See Note 2 to our financial statements included in our Annual Report on Form 10-K for the year ended September 30, 2024 for a discussion of our significant accounting policies and estimates. There have been no material changes to such significant accounting policies or estimates.

Results of Operations

Comparison of the Three Months Ended March 31, 2025 and 2024

Total operating expenses decreased to $1.6 million for the three months ended March 31, 2025 compared to $2.2 million for the three months ended March 31, 2024.

19

The following table summarizes our R&D expenses incurred during the three months ended March 31, 2025 and 2024, together with the dollar increase or decrease in those items:

			Three Months Ended March 31, 2025

			Change

			2025

			2024

			$

			Program-specific external costs:

			EB06

			$
			59,096

			$
			-

			59,096

			EB05

			131,382

			791,197

			(659,815
			)

			Other development and discovery programs

			30,976

			96,412

			(65,436
			)

			Total program-specific costs

			221,454

			887,609

			(666,155
			)

			Unallocated internal costs

			Non-program specific external costs

			1,190

			-

			1,190

			Unallocated internal costs

			261,662

			288,728

			(27,066
			)

			Total unallocated internal costs

			262,852

			288,728

			(25,876
			)

			Total research and development costs

			484,306

			1,176,337