TORONTO, ONTARIO--(Marketwired - Nov. 23, 2016) - BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) released today a summary of its financial results for the three and nine months ending September 30, 2016. Key highlights include:

• First nine months (YTD) 2016 Net Revenues of $12,912,602 increased by 12% versus YTD 2015
• Third quarter (Q3) 2016 Net Revenues of $4,766,786, a record quarter for the Company, increased by 3% versus Q3 2015
• International FeraMAX^® customer orders received as of September 30, 2016 totalling $756,000 scheduled for shipment in Q4 2016; prior year Q4 2015 international shipments of $164,490 - resulting in estimated full year 2016 international sales growth of 58% vs. 2015
• Trailing Twelve Months Net Revenues of $16,754,464 for the period ended September 30, 2016 increased by 15% versus the period ended September 30, 2015
• YTD 2016 Pharmaceutical Net Revenues of $11,740,386 increased by 10% versus YTD 2015
• Q3 2016 Pharmaceutical Net Revenues of $4,185,311 increased by 3% versus Q3 2015
• YTD 2016 EBITDA¹ of $4,309,033 increased by 5% versus YTD 2015
• Q3 2016 EBITDA¹ of $1,646,621 increased by 2% versus Q3 2015
• YTD 2016 Net Income After Tax (NIAT) of $3,214,683 increased by 7% versus YTD 2015
• YTD 2016 NIAT percentage to Net Revenues was 25% as compared to 26% in YTD 2015
• Q3 2016 NIAT of $1,247,380 increased by 5% versus Q3 2015
• Q3 2016 NIAT percentage to Net Revenues of 26% compares to 26% in Q3 2015
• YTD 2016 Fully Diluted EPS was $0.22 as compared to $0.21 in YTD 2015
• Q3 2016 Fully Diluted EPS was $0.08 as compared to $0.08 in Q3 2015
• Trailing Twelve Months Fully Diluted EPS was $0.27 for the period ended September 30, 2016 as compared to $0.26 for the period ended September 30, 2015
• The Company remains free of long-term debt and has available an unutilized revolving demand credit facility
• As at September 30, 2016, the Company had cash, cash equivalents, and short term investments totalling $11,403,283, as compared to $9,715,476 as at December 31, 2015 - a 17% increase
• Working capital increased by 29% from $10,821,785 as at December 31, 2015 to $13,988,676 as at September 30, 2016
• Total Shareholders' Equity increased by 28% from $12,151,482 at December 31, 2015 to $15,565,506 at September 30, 2016
• Trailing Twelve Months Return on Equity to September 30, 2016 was 31%
  
  

"Q3 2016 was a record quarter for BioSyent's pharmaceutical business, with sales exceeding $4.19 million" commented René Goehrum, President and CEO of BioSyent. "Although Q3 2016 international pharmaceutical sales of $0.54 million more than doubled over the prior quarter, they decreased by 27% compared to Q3 2015. In spite of the significant variability in these sales from one quarter to the next, on an annualized basis, we expect to see significant growth in 2016 international pharmaceutical sales over 2015 upon the Q4 2016 shipment of several FeraMAX^® orders for international customers."

Mr. Goehrum continued, "while we continued to grow sales of our existing brands in the third quarter with a healthy net profit margin of 26%, we remain committed to offering new and innovative products to Canadian patients and healthcare providers as we look to the future. To this end, we recently secured exclusive Canadian license and distribution rights to a new women's health prescription drug product from a new European partner. This product will be in a sub-segment of the women's health market in Canada which is valued at approximately CAD $200 million. In May 2016, we signed an exclusive License and Supply Agreement with another European partner for two new cardiovascular products for the Canadian market. These products will compete in the growing cardiovascular market in Canada which is valued at approximately CAD $1.6 billion. On November 14, 2016, we launched a new urgent care product, phenylephrine hydrochloride injection in the Aguettant System^® pre-filled syringe, for use in hospitals and acute care settings. With its proven commercialization platform, BioSyent has become a sought-after Canadian partner for developers and manufacturers of innovative and clinically-supported pharmaceutical products such as these."

The CEO presentation on the Q3 2016 Results is available at the following link: www.biosyent.com/q3-16/

The Company's Interim Unaudited Condensed Consolidated Financial Statements and Management's Discussion & Analysis for the three and nine months ended September 30, 2016 and 2015 will be posted on www.sedar.com on November 23, 2016.

For a direct market quote (15 minutes delay) for the TSX Venture Exchange and other Company financial information please visit www.tmxmoney.com.

About BioSyent Inc.

Listed on the TSX Venture Exchange under the trading symbol "RX", BioSyent is a profitable growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring innovative pharmaceutical products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, hospital and international business units.

As of the date of this press release, the Company has 14,101,087 shares issued and outstanding.

1. EBITDA - is a Non-IFRS Financial Measure. The term EBITDA does not have any standardized meaning under International Financial Reporting Standards (IFRS) and therefore may not be comparable to similar measures presented by other companies. The Company defines EBITDA as earnings before interest income or expense, income taxes, depreciation and amortization.