IMAC Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 21, 2023 at 04:01 pm
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IMAC Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 1.57 million compared to USD 3.79 million a year ago. Net loss was USD 2.86 million compared to USD 6.33 million a year ago. Basic loss per share from continuing operations was USD 2.63 compared to USD 6.93 a year ago.
For the nine months, revenue was USD 5 million compared to USD 12.71 million a year ago. Net loss was USD 7.96 million compared to USD 11.34 million a year ago. Basic loss per share from continuing operations was USD 7.28 compared to USD 12.66 a year ago.
IMAC Holdings, Inc. is a clinical research and commercialization company. The Company is focused on innovative medical advancements and care in the oncology, neurological, and orthopedic medical specialties. The Company is focused on providing natural, non-opioid solutions to pain as consumers demand conservative treatments for an aging population. Its Investigational New Drug division conducted a clinical trial for its investigational compound utilizing umbilical cord-derived allogenic mesenchymal stem cells for the treatment of bradykinesia due to Parkinsonâs disease. The Company is also engaged in providing the precision medicine business. The Company's technology, through its patented phosphoprotein and protein biomarker platform and lab developed tests (LDTs), targets multiple areas of oncology and drug development. Its LDTs are utilized by oncologists across the United States to assist in making the targeted treatment plan for their patients with advanced breast cancer.