Company: EDSA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001171843-25-005236
Chunk: 71

Company: Edesa Biotech, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 71
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.92. The gross proceeds were approximately $15.0 million, prior to deducting offering expenses payable by us. A holder of Series B-1 Preferred Shares will not have the right to convert any portion of its Series B-1 Preferred Shares, 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%.

20

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 June 30, 2025 and 2024

Total operating expenses for each of the three months ended June 30, 2025 and June 30, 2024 were $1.9 million.

			●

			The following table summarizes our R&D expenses incurred during the three months ended June 30, 2025 and 2024, together with the dollar increase or decrease in those items:

			Three Months Ended June 30, 2025

			Change

			June 30, 2025

			June 30, 2024

			$ 

			Program-specific external costs:

			EB06

			$
			226,118

			$
			-

			$
			226,118

			EB05

			396,993

			640,030

			(243,037
			)

			Other development and discovery programs

			40,370

			22,866

			17,504

			Total program-specific costs

			663,481

			662,896

			585

			Unallocated internal costs

			Non-program specific external costs

			-

			1,762

			(1,762
			)

			Unallocated internal costs

			275,586

			232,647

			42,939