Willow Biosciences Reports Q3 2024

LOS ANGELES- Willow Biosciences Inc., a biotechnology firm specializing in the industrial production of functional ingredients, has reported its financial results for the third quarter of 2024. The company achieved record revenue of $1.7 million during this period, marking a significant increase from the $674,000 reported in the same quarter of 2023. Despite this revenue growth, Willow Biosciences recorded a net loss of $1.2 million for the quarter.

The company has also raised its revenue guidance for the full year of 2024 to over $4.5 million, reflecting confidence in its existing partnerships and ongoing projects.

In addition to its financial performance, Willow Biosciences has announced several strategic initiatives:

• A partnership in the biopesticides sector, expected to generate over $2 million in revenue in its first year.
• A commercial license and royalty agreement with Kalsec Inc., which includes milestone payments and tiered royalties on net worldwide sales post-launch.
• A second program with a global ingredient manufacturer to develop an enzyme for a large-volume active pharmaceutical ingredient (API).

These developments align with Willow Biosciences’ strategy to expand its presence in high-growth industrial markets and enhance its revenue streams through strategic partnerships and innovative product development. More info: Willow Bio