Edesa Biotech Inc 2025年季度报告

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OFFor the transition period fromto FINANCIAL STATEMENTS Legal Proceedings Company’s wholly owned subsidiary, Edesa Biotech Research, Inc., as determined by management, is Canadian dollars.3. Intangible Assets In April 2020, the Company entered into a license agreement with a pharmaceutical development company to obtain exclusive rights. Unless earlier terminated, the term of the license agreement will remain in effect for25years from the date of firstcommercial sale of licensed products containing the Constructs. Subsequently, the license agreement will automatically renew for five-year periods unless either party terminates the agreement in accordance with its terms.Under the license agreement, the Company is exclusively responsible, at its expense, for the research, development, manufacture, rights. The Company is required to use commercially reasonable efforts to develop and commercialize the Constructs inaccordance with the terms of a development plan established by the parties.The Company has determined that the license has multiple alternative future uses in research and development projects andsublicensing in other countries or for other disease indications. The value of the acquired license is recorded as an intangible assetwith amortization over the estimated useful life of25years and evaluation for impairment at the end of each reporting period. March 31, 2025September 30,2024 Total intangible assets, netAmortization expense amounted to $0.03million for each of the three months ended March 31, 2025 and March 31, 2024 and$0.05million for each of the six months ended March 31, 2025 and March 31, 2024.Total estimated future amortization of intangible assets for each fiscal year is as follows: September 30, 2027September 30, 2028September 30, 2029 4. Right-of-Use Lease with Related Party The Company leases a facility used for executive offices from a related company. The original lease expired in December 2022 and 202520242025Right-of-use lease cost, included in general and administrative onthe Statements of Operations$-$19,793$17,885$Lease terms and discount rates were as follows: Cash flow information was as follows: Six Months EndedMarch 31, 2025March 31, 2024Cash paid for amounts included in the measurement of right-of-use lease liabilities, 5. Commitments Research and other commitments The Company has commitments for contracted research organizations who perform clinical trials for the Company’s ongoingclinical studies and other service providers. Approximate aggregate future contractual payments at March 31, 2025 are as follows:Year Ending September 30, 2027September 30, 2028September 30, 2029 License and royalty commitmentsIn April 2020, through its Ontario subsidiary, the Company entered into a license agreement with a third party to obtain exclusive amount of $356million contingent upon meeting certain milestones outlined in the license agreement, primarily relating to futurepotential commercial approval and sales milestones. The Company also has a commitment to pay royalties based on any net salesof products containing the Constructs in the countries where the Company directly commercializes the products containing the not directly commercialize the products containing the Constructs.Nomilestone, royalty or sublicensing payments were made tothe third party during the three and six months ended March 31, 2025 and 2024. In 2016, through its Ontario subsidiary, the Company entered into a license agreement with a third party to obtain exclusive rightsto certain know-how, patents and data relating to a pharmaceutical product. The Company will use the exclusive rights to developthe product for therapeutic, prophylactic and diagnostic uses in topical dermal applications and anorectal applications.Nointangible assets have been recognized under the license agreement with the third party. Under the license agreement, the required to remit to the inventor a fixed license fee quarterly as long as the requirement to file an IND remains unfulfilled. For thethree and six months ended March 31, 2025, the Company recorded an expense of $25,000and $50,000as a result of meetingmilestones outlined in the 2021 license agreement. There were no milestones achieved in the three and six months ended March 31, 2025 and no additional expenses were incurred. Series B-1 Preferred Shares Offering On February 12, 2025, the Company entered into a Securities Purchase Agreement (Series B-1 Purchase Agreement) with certaininvestors, including members of the Company’s board of directors and executive officers (the Series B-1 Investors), pursuant towhich the Company issued and sold to the Series B-1 Investors in a private placement (the Private Placement), an aggregate of(i)834shares (the Series B-1 Preferred Shares) of the Company’s newly designated Series B-1 Convertible Preferred Shares, On October 30, 2024, the Compa