04:44 PM EST, 11/28/2024 (MT Newswires) -- Kane Biotech ( KNBIF ) after trade Thursday said its third-quarter loss dropped year-over-year on higher revenue.

The company, which develops anti-microbial film products, said it lost $678,636, or $0.01 per share, in the period, compared to a loss of $1.24 million, or $0.01, in the year-prior quarter.

Revenue for the quarter ended Sept. 30 was $1.28 million, up from $27,003 a year ago.

"In the third quarter we recorded our first commercial sale of revyve antimicrobial wound gel, signed two new revyve wound gel product distribution agreements in the Middle East, received our MDSAP Quality Certification, and were awarded $200,000 in NRC IRAP funding," said Chief Executive Marc Edwards, adding that the company will continue to implement its strategic plan for success in 2025 and beyond.

The company's shares closed unchanged at $0.115 on the TSX Venture Exchange.