Emmaus Life Sciences Inc (OTCQX: EMMA), a commercial-stage biopharmaceutical company involved in the treatment of sickle cell disease, announced on Tuesday its financial results for the nine months ended 30 September 2023.

Net revenue for the period increased to USD22.5m compared to USD12.5m in January-September 2022.

Total operating expenses rose to USD19.2m from USD15.7m in the year-ago period.

Income from operations for the nine months to 30 September 2023 increased to USD2.2m, compared to a loss from operations of USD5.2m a year earlier. Emmaus recorded a net loss of USD4.9m, or USD0.09 per share, based on approximately 52.4 million weighted average basic and diluted common shares, an improvement from the net loss of USD10.8m or USD0.22 per share, based on approximately 49.4 million weighted average basic and diluted common shares, for the nine months to 30 September 2022.