Sunshine Biopharma revenue falls 9% as distribution deals end; cash runway cut to 17 months

Filed May 13, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~1 min read

Key Changes

• high

  Distribution agreements terminated Dec 2025, shrinking marketed drug portfolio from 71 to 60 products and pipeline from 64 to 22 drugs—a 66% pipeline contraction that drove Q1 revenue down 9% to $8.1M.

  MD&A: Distribution Agreements & Pipeline verify on EDGAR →
• high

  Gross margin compressed 370 basis points to 27.0% from 30.7% prior year, with gross profit falling 20% despite only 9% revenue decline, signaling unfavorable product mix or pricing pressure.

  MD&A: Gross Margin verify on EDGAR →
• high

  Management slashed cash runway estimate from 24 months to 17 months, reflecting higher burn or lower revenue expectations post-distribution terminations; quarterly deficits remain ~$1.2M.

  MD&A: Liquidity verify on EDGAR →