Velan Inc. reported earnings results for the first quarter ended May 31, 2023. For the first quarter, the company reported sales was USD 67.66 million compared to USD 75.01 million a year ago. Net loss was USD 8.28 million compared to USD 7.35 million a year ago.

Basic loss per share from continuing operations was USD 0.38 compared to USD 0.34 a year ago.