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VALEO PHARMA ™ Valeo Pharma Announces Record Revenues and Gross Margins for its Third Quarter 2021 • Record revenues of $ 5.7 million for Q3 2021 , up 280 % over Q3 2020 and 114 % over prior quarter . • Record gross margin of $ 2.2 million , up 1602 % over Q3 2020 and 204 % over prior quarter . • Record 9 months revenues at $ 10.2 million , up 94 % . • Private and public reimbursement coverage expanding for RedescaⓇ • New corporate structure completed with full commercial activities ongoing for Redesca® , Enerzair® Breezhaler® and AtecturaⓇ BreezhalerⓇ • Valeo launches new corporate image , logo and website MONTREAL , Sept. 22 , 2021 / CNW Telbec / - Valeo Pharma Inc. ( CSE : VPH ) ( OTCQB : VPHIF ) ( FSE : VP2 ) ( " Valeo " or the " Company " ) , a Canadian pharmaceutical company , today reported its financial results for the third quarter ended July 31 , 2021 . Third quarter and year to date 2021 Results Highlights : • Record revenues of $ 5.7 million compared to $ 1.5 million in Q3 2020 , up 280 % • Record gross margin of $ 2.2 million compared to $ 0.1 in Q3 2020 , up 1602 % • Net loss of $ 2.9 million compared to $ 1.6 in Q3 2020 • Adjusted EBITDA loss of $ 0.8 million compared to $ 0.7 million in Q3 2020 • Record YTD revenues after 9 months of $ 10.2 million , up 94 % over the first 9 months of 2020 . " The Q3 commercial launches of Redesca , Enerzair and Atectura , three products that are transformative for Valeo , contributed to our record third quarter results . Valeo is rapidly evolving into a leading Canadian pharmaceutical company with strong management and an extensive commercial infrastructure . Our innovative products and pipeline point to robust revenue growth for the coming years , " said Steve Saviuk , CEO . " Redesca has rapidly become our best selling product while intial healthcare professional interest in Enerzair and Atectura , our two newly launched asthma therapies , has been very strong and supports our view that these therapies will be important revenue drivers . " " We will look back at the third quarter of 2021 and the implementation of our new corporate structure as a pivotal moment for Valeo . Valeo's two business units are now fully staffed with a dedicated national sales force supported by head office functions , powerful data management and communication technological tools . Both units are now led by industry veterans that will drive maximum market share gains , " said Frederic Fasano , President and COO . " We are very pleased to have successfully met the challenge of assembling a solid team in 2021. We are already seeing the benefits of our new structure and look forward to leverage its commercial potential . " Commenting on the record third quarter 2021 results , Luc Mainville , Senior Vice - President and Chief Financial Officer said , " We have continued to build on the momentum of previous quarters and once