Sunshine Biopharma, Inc. (SBFM) shares are surging more than 86 percent on Monday morning trade after the company reported a narrower loss for the full year on an increase in revenue, and an absence of one-time charges compared to the prior year.
The fullyear loss was $26.744 million or $0.19 per share, compared to loss of $4.51 million or $1.76 per share, a year ago. In the prior year the company had recorded a one-time goodwill write-off.
Sales for the period increased to $24.09 million from $4.345 million last year.
Currently, shares are at $0.11, up 85.95 percent from the previous close of $0.06 on a volume of 166,412,248.
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