Rua Bioscience (RUA:NZX) has announced its full year result for the 12 months ended 30 June 2022, reporting a loss before tax of $7.49m, in line with expectations.

The result was supported by Rua's first product sales in New Zealand, GMP certification, a successful acquisition of Zalm Therapeutics, and the receipt of a narcotics licence to distribute and market products in Germany.

Rua has also established an end-to-end cultivation and supply solution which will enable the company to quickly increase capacities without additional capital.

In FY23, Rua expects to increase volumes and range of medicines delivered to New Zealand patients, and to grow market share and develop its product portfolio in Europe.

See more