Rapid Dose Therapeutics Reports Fiscal Year 2021 Financial Results


BURLINGTON, Ontario–(BUSINESS WIRE)–Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE), today reported its financial results for the year ended February 28, 2021. “The Company achieved a number of key milestones this year, is transitioning efficiently into its commercialization stage from research and development and our IP has expanded to fulfill a number of our core business drivers,” said Mark Upsdell, CEO, Rapid Dose Therapeutics. “Momentum is building, and we are pleased to see sales growth in our key business lines including cannabis and nutraceuticals with rapid movement with our partners at McMaster University on the COVID-19 vaccine candidate.” 2021 Financial Information: Fiscal Year   February 28, 2021 February 29, 2020 % Change Revenue $262,805 $101,498 +159%       Operating expenses $(2,477,065) $(7,613,821) -67% Net profit (loss) $(2,297,654) $(7,964,616) -71% Net loss per share – basic $(0.03) $(0.10)   Common shares – basic 80,666,805 77,067,435   Complete financial statements are available at http://www.sedar.com 2021 Operational Highlights: Gaining momentum with increased sales for the QuickStrip™ nutraceutical products following the signing of a new distribution agreement Announced a number new cannabis supply agreements including the December 21, 2020 agreement with Thrive Cannabis and Aphria in September 2020 Filed patents for the conversion of Ultrapure THC from CBD, initially announced on June 19, 2020 and a definitive supply agreement (November 25, 2020) enabling commercial production On January 11, 2021 executed letter of intent to acquire Consolidated Craft Brands Initiated COVID-19 vaccine work following the January 23, 2020 announcement regarding the awarding of the NSERC Research and Development grant with partners at McMaster University About Rapid Dose Therapeutics Corp. Rapid Dose Therapeutics is a Canadian biotechnology company revolutionizing drug delivery through innovation. The Company’s flagship product QuickStrip™ is a thin, orally dissolvable film, that can be infused with an infinite list of…

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