Burcon posts Q1 loss as company cites ongoing commercialization, scale-up efforts and funding needs
Reuters2026/08/12 23:09- For the three months ended June 30, 2026, net loss widened to CAD 3.8 million from CAD 3.5 million.
- Operating cash outflow improved to CAD 2.4 million from CAD 2.7 million, despite continued losses.
- Accumulated deficit reached CAD 168.3 million; working capital remained negative at CAD 11.2 million.
- Commercial production and sales continued at its Protein Production Facility for pea, canola, and fava proteins.
- Solatein sunflower protein stayed at pilot scale; commercialization at the facility targeted for calendar 2027.
- Liquidity actions included a CAD 1.4 million loan received subsequent to quarter-end; convertible notes offering launched for up to CAD 8.1 million.
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