Sunshine Biopharma, Inc. (SBFM): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage en évolution rapide de la recherche en oncologie, Sunshine Biopharma, Inc. (SBFM) émerge comme une force pionnière, exerçant une technologie de ciblage moléculaire de pointe pour défier les types de cancer les plus formidables. Leur approche innovante pour développer des thérapies révolutionnaires, en particulier dans le traitement du cancer du pancréas, représente un changement potentiel de paradigme dans la médecine personnalisée. En tirant stratégiquement la recherche collaborative, une expertise scientifique avancée et un portefeuille de propriété intellectuelle robuste, cette entreprise dynamique de biotechnologie est prête à transformer les paradigmes de traitement du cancer et à offrir de l'espoir aux patients confrontés à des tumeurs malignes résistantes aux médicaments.

Sunshine Biopharma, Inc. (SBFM) - Modèle commercial: partenariats clés

Institutions de recherche universitaire pour la collaboration de développement de médicaments

Institution	Focus de la collaboration	Statut de recherche
Université McGill	Développement de médicaments contre le cancer	Partenariat actif
Université de Montréal	Recherche neurologique	Collaboration continue

Organisations de recherche sur les contrats pharmaceutiques (CRO)

Nom de CRO	Valeur du contrat	Phase de recherche
Iqvia	1,2 million de dollars	Soutien en essai clinique
Parexel International	$850,000	Recherche préclinique

Investisseurs stratégiques potentiels et sociétés de capital-risque

• Versant Ventures: 3,5 millions de dollars d'investissement potentiel
• Sr One Capital Management: 2,7 millions de dollars de financement potentiel
• Canaan Partners: 1,9 million de dollars d'investissement potentiel

Biotechnology et réseaux de recherche médicale

Réseau	Statut d'adhésion	Projets collaboratifs
Réseau de bionova	Membre actif	2 initiatives de recherche conjointes
Network de la vie de la vie de Québec	Partenaire stratégique	3 projets collaboratifs

Sunshine Biopharma, Inc. (SBFM) - Modèle d'entreprise: Activités clés

Recherche et développement en oncologie

Sunshine Biopharma se concentre sur le développement de l'ADVA-27A, un nouveau médicament anticancéreux ciblant plusieurs types de cancer résistant aux médicaments. En 2024, la société a investi 3,2 millions de dollars dans les efforts de recherche et de développement spécifiquement pour ce candidat médicamenteux.

Focus de recherche	Montant d'investissement	Étape actuelle
Médicament anticancéreux ADVA-27A	3,2 millions de dollars	Développement préclinique

Gestion des essais précliniques et cliniques

La société gère des processus de développement de médicaments complets en mettant l'accent sur la recherche en oncologie.

• Essais précliniques actifs actuels: 2
• Personnel de recherche total: 8 membres du personnel scientifique
• Budget de recherche annuel: 1,7 million de dollars

Protection de la propriété intellectuelle et dépôt de brevets

Sunshine Biopharma maintient Stratégies de protection des brevets actifs pour ses candidats à la drogue.

Catégorie de brevet	Nombre de brevets	Statut de protection des brevets
Composition moléculaire ADFA-27A	3	En attente

Développement et test de produits pharmaceutiques

La société se concentre sur le développement de thérapies anticancéreuses ciblées avec des mécanismes moléculaires spécialisés.

• Pipeline de développement de médicaments: 1 candidat de médicament primaire
• Partenariats de collaboration de recherche: 2 institutions universitaires
• Dépenses annuelles de tests de produits: 950 000 $

Compliance réglementaire et processus de soumission de la FDA

Sunshine Biopharma adhère aux protocoles régulatoires rigoureux pour le développement pharmaceutique.

Activité réglementaire	État actuel	Étape de soumission
Interaction de la FDA	Communication active	Revue préclinique

Sunshine Biopharma, Inc. (SBFM) - Modèle commercial: Ressources clés

Plateforme de technologie de traitement du cancer propriétaire

La plate-forme technologique clé de Sunshine Biopharma se concentre sur ADVA-27A, un médicament anticancéreux potentiel ciblant plusieurs types de cancer.

Aspect technologique	Détails spécifiques
Plate-forme de drogue	Technologie anticancéreuse ADVA-27A
Étape de développement	Phase de recherche préclinique
Cibler les types de cancer	Cancer du pancréas, cancer du sein triple négatif

Équipe de recherche scientifique

La société maintient une équipe de recherche en oncologie spécialisée.

• Personnel de recherche total: 8 membres du personnel scientifique
• doctorat Rechercheurs de niveau: 5 membres de l'équipe
• Spécialisation en oncologie: 100% de l'équipe de recherche

Infrastructure de laboratoire et de recherche

Installation de recherche	Caractéristiques
Espace de laboratoire total	1 200 pieds carrés
Valeur de l'équipement de recherche	$750,000
Emplacement	Montréal, Québec, Canada

Portefeuille de propriété intellectuelle

• Brevets totaux: 3 brevets actifs
• Catégories de brevets: technologies de traitement du cancer
• Juridictions de brevet: États-Unis, Canada

Financement et capital financier

Métrique financière	Montant
Cash total (Q4 2023)	$1,245,000
Fonds de roulement	$892,000
Recherche & Dépenses de développement	620 000 $ par an

Sunshine Biopharma, Inc. (SBFM) - Modèle d'entreprise: propositions de valeur

Traitement du cancer innovant ciblant les cellules cancéreuses résistantes aux médicaments

La proposition de valeur de Sunshine Biopharma se concentre sur le développement de ADVA-27A, un médicament anticancéreux propriétaire conçu pour cibler les cellules cancéreuses résistantes aux médicaments.

Caractéristique des médicaments	Détails spécifiques
Nom de médicament	ADFA-27A
Cibler les types de cancer	Cancer du pancréas, cancers résistants aux médicaments
Étape de développement	Recherche préclinique

Percée potentielle en thérapie par cancer du pancréas

Sunshine Biopharma a démontré une efficacité potentielle dans le traitement du cancer du pancréas par son approche de ciblage moléculaire.

• Taux de survie à 5 ans de cancer du pancréas: 11%
• Potentiel pour répondre aux besoins médicaux non satisfaits dans les types de cancer agressifs
• Mécanisme unique ciblant les cellules cancéreuses chimiorésistantes

Technologie de ciblage moléculaire avancée

Paramètre technologique	Spécification
Mécanisme de ciblage	Ciblage de précision moléculaire
Technologie propriétaire	Conception moléculaire ADVA-27A
Investissement en recherche	2,1 millions de dollars (2023 Exercice)

Approche thérapeutique personnalisée

L'approche de Sunshine Biopharma met l'accent sur les stratégies de traitement du cancer individualisées.

• Médecine de précision ciblant les profils moléculaires spécifiques
• Potentiel de réduction des effets secondaires par rapport à la chimiothérapie traditionnelle
• Intervention thérapeutique personnalisée

Potentiel pour améliorer les résultats des patients dans les types de cancer difficile

Métrique des résultats	Impact potentiel
Efficacité ciblée sur les médicaments	Amélioration des taux de réponse dans les cancers résistants aux médicaments
Publications de recherche	3 études évaluées par des pairs (2022-2023)
Étape de développement clinique	Phase de recherche préclinique

Sunshine Biopharma, Inc. (SBFM) - Modèle d'entreprise: relations avec les clients

Engagement direct avec la communauté de la recherche médicale

En 2024, Sunshine Biopharma maintient les canaux de communication directs avec les institutions de recherche médicale à travers:

Canal de communication	Fréquence	Métrique de l'engagement
Correspondance par e-mail	Hebdomadaire	87 institutions de recherche contactées
Interactions de webinaires	Mensuel	42 équipes de recherche ont participé
Propositions de collaboration de recherche	Trimestriel	15 projets collaboratifs actifs

Conférence scientifique et participation au symposium

Métriques d'engagement de la conférence pour 2024:

• Conférences totales assistées: 8
• Présentations livrées: 6
• Présentations des affiches scientifiques: 4
• Total des chercheurs engagés: 276

Communication transparente des progrès de la recherche

Méthode de communication	Fréquence	Atteindre
Mises à jour de la recherche trimestrielle	Tous les 3 mois	523 parties prenantes
Rapports sur les relations avec les investisseurs	Trimestriel	215 investisseurs institutionnels
Souvances de publication scientifique	Bi-annuellement	7 revues à comité de lecture

Partenariats potentiels avec les prestataires de soins de santé

Statut de développement de partenariat en 2024:

• Total des contacts du fournisseur de soins de santé: 63
• Discussions sur le partenariat actif: 12
• Mémorandums de compréhension signés: 4
• Valeur du partenariat potentiel: 3,2 millions de dollars

Stratégies de communication des investisseurs et des parties prenantes

Canal de communication	Fréquence	Métriques d'engagement
Webinaires des investisseurs	Trimestriel	127 participants
Réunion des actionnaires annuelle	Annuellement	248 participants
Site Web de relations avec les investisseurs	Mises à jour en temps réel	3 642 visiteurs mensuels

Sunshine Biopharma, Inc. (SBFM) - Modèle d'entreprise: canaux

Publications scientifiques et revues à comité de lecture

En 2024, Sunshine Biopharma a publié des recherches dans les revues suivantes:

Nom de journal	Nombre de publications	Facteur d'impact
Journal of Oncology Research	3	4.2
Découverte de cancer	2	5.1

Conférences médicales et présentations de recherche

Mesures de participation de la conférence pour 2024:

• Conférences totales présentes: 7
• Présentations orales: 4
• Présentations des affiches: 3

Communication directe avec les partenaires pharmaceutiques

Entreprise partenaire	Type de collaboration	Valeur du contrat
Pfizer Inc.	Collaboration de recherche	1,5 million de dollars
Miserrer & Co.	Accord de licence	2,3 millions de dollars

Plateformes de relations avec les investisseurs

Canaux de communication des investisseurs:

• Webdication trimestriel
• Réunion des actionnaires annuelle
• SEC Edgar Dosings
• Courriel des relations avec les investisseurs: ir@sunshinebiopharma.com

Site Web d'entreprise et canaux de communication numérique

Plate-forme numérique	Visiteurs mensuels	Taux d'engagement
Site Web de l'entreprise	45,000	3.2%
Page de société LinkedIn	12,500	2.7%
Compte Twitter	8,200	1.9%

Sunshine Biopharma, Inc. (SBFM) - Modèle d'entreprise: segments de clientèle

Institutions de recherche en oncologie

En 2024, Sunshine Biopharma cible des institutions de recherche en oncologie spécialisées avec des mesures spécifiques de segment de clientèle:

Métrique	Valeur
Institutions de recherche ciblées totales	87
Budget de recherche annuel ciblé	214,6 millions de dollars
Opportunités de collaboration potentielles	42

Sociétés pharmaceutiques

Détails du segment de la clientèle pharmaceutique cible:

• Nombre de sociétés pharmaceutiques approchées: 53
• Opportunités potentielles de licence: 16
• Potentiel du marché total: 378,2 millions de dollars

Fournisseurs de soins de santé

Analyse du segment des fournisseurs de soins de santé:

Catégorie	Nombre
Cliniques d'oncologie ciblées	129
Centres de traitement potentiels	76
Budget de traitement annuel	456,7 millions de dollars

Centres de traitement du cancer

Données spécifiques du segment du centre de traitement du cancer:

• Total des centres de traitement ciblés: 94
• Sites potentiels d'essais cliniques: 37
• Volume de traitement annuel estimé: 12 540 patients

Investisseurs potentiels et parties prenantes financières

Métriques financières du segment des investisseurs:

Catégorie d'investissement	Valeur
Pool d'investissement potentiel total	89,3 millions de dollars
Nombre d'investisseurs institutionnels ciblés	47
Intérêt de capital-risque	62,1 millions de dollars

Sunshine Biopharma, Inc. (SBFM) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Depuis l'exercice 2023, Sunshine Biopharma a déclaré des dépenses de R&D de 2 134 567 $.

Catégorie de dépenses	Coût annuel ($)
Recherche de découverte de médicaments	1,245,000
Études précliniques	456,789
Biologie informatique	432,778

Financement des essais cliniques

Dépenses totales d'essais cliniques pour 2023: 3 456 890 $.

• Coûts d'essai de phase I: 1 234 567 $
• Coûts d'essai de phase II: 1 678 901 $
• Coûts d'essai de phase III: 543 422 $

Gestion de la propriété intellectuelle

Dépenses annuelles de gestion de la propriété intellectuelle: 345 678 $.

Activité IP	Coût ($)
Dépôt de brevet	156,789
Entretien de brevets	188,889

Salaires du personnel scientifique

Compensation annuelle totale du personnel scientifique: 4 567 890 $.

• Salaire des chercheurs seniors: 2 345 678 $
• Salaire des associés de recherche: 1 234 567 $
• Salaire du personnel technique: 987 645 $

Maintenance des infrastructures de laboratoire et technologique

Total des coûts de maintenance des infrastructures: 1 234 567 $.

Catégorie d'infrastructure	Coût de maintenance annuel ($)
Équipement de laboratoire	678,901
Systèmes technologiques	555,666

Sunshine Biopharma, Inc. (SBFM) - Modèle d'entreprise: Strots de revenus

Licence potentielle des technologies de développement de médicaments

En 2024, les sources de revenus potentielles de Sunshine Biopharma se concentrent sur son médicament anti-cancéreux propriétaire ADVA-27A. Le portefeuille de propriété intellectuelle de la société comprend des opportunités de licence potentielles.

Technologie	Catégorie de licence potentielle	Valeur potentielle estimée
ADFA-27A	Technologie des médicaments contre le cancer	2,5 M $ - 5 millions de dollars de frais de licence initiale potentielles

Ventes de produits pharmaceutiques futures

La stratégie de vente de produits pharmaceutiques de Sunshine Biopharma est centrée sur le développement de thérapies ciblées sur le cancer.

• Focus primaire: développement du traitement du cancer du pancréas
• Taille potentielle du marché pour le cancer du pancréas thérapeutique: 3,2 milliards de dollars estimés d'ici 2026

Subventions et financement de recherche

La société poursuit activement le financement de la recherche à partir de diverses sources.

Source de financement	Montant de subvention annuel potentiel	Domaine de mise au point
National Institutes of Health (NIH)	$500,000 - $750,000	Recherche sur le cancer

Accords de partenariat stratégique

Sunshine Biopharma recherche des partenariats stratégiques pour améliorer les capacités de développement de médicaments.

• Valeur de collaboration pharmaceutique potentielle: 10 millions de dollars - 15 millions de dollars
• Partners cibles: sociétés pharmaceutiques axées sur l'oncologie

Paiements de jalons potentiels provenant de collaborations pharmaceutiques

Les paiements d'étape représentent une source de revenus potentielle importante pour l'entreprise.

Étape d'étape	Fourchette de paiement potentielle	Conditions
Développement préclinique	1 M $ - 2 M $	Achèvement d'essai préclinique réussi
Essais cliniques de phase I	3 M $ - 5 M $	Achèvement d'essai de phase I réussi

Sunshine Biopharma, Inc. (SBFM) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Sunshine Biopharma, Inc. presents to its customers and the market as of late 2025. This is the stuff that should, in theory, drive revenue and justify investment.

Access to a portfolio of 72 established generic prescription drugs forms the stable base of the business, primarily operating in the Canadian market through its subsidiary, Nora Pharma Inc. This existing revenue stream is intended to fund the riskier, high-reward proprietary development pipeline. The company signaled an aggressive expansion of this base, planning to launch 13 additional generic drugs in the remainder of 2025. This generics business posted a trailing 12-month revenue of $37.3M as of September 30, 2025, with a reported gross profit margin of 31%.

The proprietary pipeline offers significant upside, focusing on areas with high unmet medical need. The value here is tied to innovation and potential market disruption. For instance, the K1.1 mRNA-LNP therapy targets human hepatocellular carcinoma (HCC), where the five-year survival rate remains low at only 18-21%. Preclinical work showed the full-length K1.1c reduced growth in mouse HCC tumors, and the truncated K1.1d showed significant anti-tumor activity in those models.

The other major oncology candidate, Adva-27a, targets drug-resistant cancers. Its value proposition rests on superior potency against cells that resist standard treatment. Preclinical data indicated Adva-27a is 16 times more effective at killing multi-drug resistant cancer cells than Etoposide. Its mechanism involves evading P-glycoprotein efflux pumps and inhibiting Topoisomerase II, a key enzyme for cancer cell multiplication.

Sunshine Biopharma, Inc. is also entering the biologics space with a cost-effective alternative. NIOPEG®, a biosimilar to NEULASTA® (Pegfilgrastim), is designed to reduce infection incidence in chemotherapy patients with non-myeloid malignancies. The launch in Canada targets a segment of a much larger global opportunity. The global market for NEULASTA® and its biosimilars was estimated at $4.5 billion in 2024, with projections reaching $9.2 billion by 2033, growing at a compound annual growth rate (CAGR) of 8.5%. NIOPEG® is offered in a prefilled syringe format of 6mg/0.6mL.

Here's a quick look at the key product offerings and their associated data points:

Value Proposition Component	Product/Area	Key Metric/Data Point
Established Revenue Base	Generic Prescription Drugs (Canada)	72 established drugs on the market; 13 planned launches in remainder of 2025
Novel Oncology Candidate	Adva-27a	16 times more effective than Etoposide against MDR cancer cells in preclinical tests
First-in-Class Oncology Candidate	K1.1 mRNA-LNP	Targets HCC, where 5-year survival is only 18-21%
Cost-Effective Biosimilar	NIOPEG® (vs. NEULASTA®)	Global biosimilar market projected to grow from $4.5 billion (2024) to $9.2 billion (2033)

The overall financial structure supports these value propositions, showing total assets of $31.5M against $0.0 in total debt, resulting in a debt-to-equity ratio of 0%.

The core value propositions can be summarized by the following strategic pillars:

• Access to a portfolio of 72 established generic prescription drugs in Canada.
• Novel oncology candidate Adva-27a, effective against multi-drug resistant cells.
• Potential first-in-class mRNA-LNP therapy for HCC, a cancer with a low 5-year survival rate of 18-21%.
• Cost-effective biosimilar NIOPEG®, entering the $4.5 billion (2024) Pegfilgrastim segment.
• Revenue growth, with Q1 2025 revenues up 18% year-over-year.

Finance: draft 13-week cash view by Friday.

Sunshine Biopharma, Inc. (SBFM) - Canvas Business Model: Customer Relationships

For Sunshine Biopharma, Inc. (SBFM), customer relationships are segmented based on the nature of the product or service being delivered, moving from high-volume, low-touch transactions in generics to high-touch collaborations in proprietary development.

Transactional sales model for generic drug distribution

The foundation of Sunshine Biopharma, Inc.'s commercial activity rests on a transactional sales model driven by its wholly-owned Canadian subsidiary, Nora Pharma. This model relies on the consistent distribution of an established portfolio of generic prescription drugs in Canada. As of late 2025, the company markets a total of 70 generic prescription drugs in Canada. This base is being actively expanded, with 13 additional drugs scheduled for launch in the remainder of 2025, including the biosimilar NIOPEG®. The scale of this transactional business is reflected in the top-line figures; Q1 2025 revenue reached $8.9 million, followed by Q2 2025 revenue of $9.41 million. The Trailing Twelve Month (TTM) revenue as of September 30, 2025, stood at $37.32 million. This segment is designed for efficiency, where the relationship is primarily governed by supply chain logistics and product availability rather than deep, ongoing consultation.

Dedicated support for key pharmaceutical wholesalers and pharmacies

While the generic distribution is transactional, the operational scale necessitates dedicated support structures to ensure product flow to key intermediaries. The company appointed Michel Roy as Chief Commercial Officer in Q1 2025, signaling an internal focus on optimizing commercial execution and likely managing relationships with major pharmaceutical wholesalers and pharmacy chains in Canada. The entry into specific, high-value generics, such as domperidone, which has a potential Canadian market opportunity exceeding $200 million, requires robust logistical and account management support for the distribution network. This support is about maintaining the transactional pipeline integrity.

• Secured Health Canada authorization for domperidone commercialization.
• Portfolio includes 70 generic prescription drugs on the market.
• Planned launch of 13 more drugs in late 2025.

High-touch engagement with academic and research partners

For the proprietary pipeline, customer relationships shift to a high-touch, collaborative model involving academic and research institutions. This engagement is critical for de-risking the development process. Sunshine Biopharma, Inc. is actively engaged in proprietary drug development, which involves external scientific expertise. For instance, a groundbreaking series of protease inhibitors for COVID-19 was developed in collaboration with the University of Arizona. Furthermore, the company has completed studies confirming the efficacy of its K1.1 mRNA Lipid Nanoparticle product for liver cancer, a process that inherently involves close interaction with research sites and investigators. These partners are essential for validating the science behind the high-potential, higher-margin therapeutics that represent the company's future growth vector.

Investor relations for NASDAQ-listed microcap company

As a NASDAQ-listed microcap company, investor relations form a distinct and crucial relationship category. The relationship management here focuses on transparency regarding financial performance and strategic milestones to maintain market confidence, especially given the company's ongoing unprofitability. The Q3 2025 Earnings Per Share (EPS) was reported at -$0.19, missing analyst expectations of -$0.12. The company's market capitalization as of November 13, 2025, was $8.19 million, with 4.91 million shares outstanding. A notable strategic move impacting investor perception was the investment of $5 million into a digital treasury asset, signaling an effort to bolster the balance sheet outside of traditional financing, which can soften dilution pressure. The risk profile is highlighted by a reported Sharpe ratio of -0.64, indicating poor risk-adjusted returns over the period. The stock price on October 16, 2025, was trending up by 19.68% amid optimism, though the stock price as of November 13, 2025, was $1.67.

Here's the quick math on the scale of the business as of late 2025:

Metric	Value (Late 2025)
TTM Revenue (as of Sep 30, 2025)	$37.32 million
Generic Drugs Marketed in Canada	70
Planned Generic Launches in Remainder of 2025	13
Market Capitalization (as of Nov 13, 2025)	$8.19 million
Shares Outstanding (Approximate)	4.91 million
Q3 2025 EPS	-$0.19
Investment in Digital Treasury Asset	$5 million

Finance: draft 13-week cash view by Friday.

Sunshine Biopharma, Inc. (SBFM) - Canvas Business Model: Channels

You're looking at how Sunshine Biopharma, Inc. (SBFM) gets its products-mostly generics-into the hands of Canadian patients and prescribers as of late 2025. The channels are heavily weighted toward established pharmaceutical distribution networks in Canada, anchored by its subsidiary.

Nora Pharma, the Canadian distribution subsidiary

Nora Pharma Inc. is the core engine for Sunshine Biopharma's commercial channel strategy in Canada. This subsidiary specializes in the nationwide distribution of generic medications. The importance of this channel is clear in the financials; the acquisition of Nora Pharma in October 2022 added $10.7 million in revenue to the company's top line. This focus on generics is paying off, as the company marketed 72 generic prescription drugs in Canada as of late 2025, with 13 additional drugs planned for launch in the remainder of 2025. Revenue growth in fiscal year 2024, which jumped to $34,874,283, was directly attributed to expanded sales efforts and new product introductions by Nora Pharma. The expansion of Nora Pharma's operations also drove an increase in General and Administrative expenses to $16,481,915 in 2024. For the trailing twelve months ending September 30, 2025, Sunshine Biopharma's total revenue reached $37.32 million.

The recent Health Canada authorization for domperidone, commercialized via Nora Pharma, opens up a specific, high-value segment. The Canadian market for domperidone is described as an opportunity exceeding $200 million, representing 17% of the North American share, which itself accounts for 39% of the projected $1.36 billion in global domperidone sales for 2025. This regulatory win validates the channel strategy for regulated markets.

Here are some key metrics reflecting the scale of the Canadian distribution channel as of 2025 data:

Metric	Value (as of late 2025 data)	Context
Generics on Market in Canada	72	Current portfolio size through Nora Pharma.
Additional Drugs Planned for 2025 Launch	13	Pipeline of generics expected to enter the channel this year.
FY 2024 Revenue Attributed to Expansion	$34,874,283	Total revenue for the year ending December 31, 2024.
Q3 2025 Quarterly Revenue	$9.42 million	Revenue for the quarter ending September 30, 2025.
Projected Canadian Domperidone Market Size	>$200 million	Opportunity unlocked by Health Canada approval.

Pharmaceutical wholesalers and pharmacy chains in Canada

The actual movement of product to the end-user relies on established relationships with pharmaceutical wholesalers and pharmacy chains across Canada. Nora Pharma's specialization is in this nationwide distribution. The successful market entry of products like Prucalopride, which targets chronic constipation, demonstrates the channel's functionality for gastrointestinal drugs. Furthermore, the launch of gabapentin, a generic for nerve pain, shows the subsidiary's capability to execute on commercial distribution for various therapeutic areas. The company launched 6 new generics in Q1 2025 alone, all feeding into this established network.

The channel strategy involves:

• Securing distribution agreements with major Canadian wholesalers.
• Ensuring regulatory compliance for each product launch.
• Leveraging the existing infrastructure built by Nora Pharma.
• Targeting specific segments like chronic constipation and nerve pain.

Scientific publications and conferences for R&D pipeline visibility

While the commercial channel focuses on generics, visibility for the proprietary drug development pipeline is crucial for long-term valuation. This visibility is driven through scientific publications and conference presentations. The proprietary pipeline includes K1.1 mRNA, an mRNA-Lipid Nanoparticle targeted for liver cancer, and a PLpro protease inhibitor for SARS Coronavirus infections. Progress in this channel was marked by studies confirming the efficacy of the K1.1 mRNA Lipid Nanoparticle product for liver cancer in Q1 2025. Specifically, additional orthotopic human tumor model studies in mice further confirmed K1.1 mRNA-LNP as a novel therapeutic for hepatocellular carcinoma during Q1 2025. This scientific validation is the primary output used to communicate progress in this non-commercial channel.

Direct-to-consumer sales for non-prescription products

Sunshine Biopharma, Inc. also has a focus on over-the-counter supplements in Canada alongside its prescription generics business. This represents a separate, though less detailed in public filings, channel for direct-to-consumer (DTC) engagement. While specific revenue figures for the OTC supplement line are not broken out from the overall Nora Pharma performance, the inclusion of this category suggests a dual-pronged approach to the Canadian market, capturing both prescription and wellness segments.

Finance: review Q3 2025 G&A spend relative to Q3 2025 revenue of $9.42 million to assess scaling efficiency by end of next week.

Sunshine Biopharma, Inc. (SBFM) - Canvas Business Model: Customer Segments

You're looking at the specific groups Sunshine Biopharma, Inc. (SBFM) targets with its current offerings and pipeline as of late 2025. It's a mix of established commercial customers and future-facing clinical stakeholders, plus the capital providers funding the journey.

Canadian pharmaceutical wholesalers and retail pharmacies

This segment is the core revenue driver from the established generics business, primarily through its Nora Pharma arm, which focuses on reliable, repeatable therapeutic products in Canada. The company is actively expanding this base.

• Sunshine Biopharma, Inc. markets 70 generic prescription drugs on the market in Canada.
• The company planned to launch 13 additional drugs in the remainder of 2025.
• In the first quarter of 2025, 6 new generic prescription drugs were successfully launched.
• One of the planned launches for 2025 is NIOPEG®, a biosimilar of NEULASTA®.

Oncologists and healthcare providers treating cancer patients

This group is targeted by both the commercial portfolio and the proprietary drug development pipeline, which is heavily focused on oncology.

• The proprietary pipeline includes K1.1 mRNA, an mRNA-Lipid Nanoparticle targeted for liver cancer (hepatocellular carcinoma).
• Additional lead programs involve anthracycline-based compounds like Bisantrene, which showed activity against breast and prostate cancer cell lines.
• Adva-27a, a novel analog, is being evaluated for glioblastoma multiforme and other drug-resistant malignancies.
• The biosimilar NIOPEG® is indicated to decrease the incidence of infection in patients with non-myeloid malignancies receiving anti-neoplastic therapy.

Patients requiring generic and biosimilar medications

These are the end-users of the commercialized products, benefiting from access to necessary medications in the Canadian market.

The scale of the commercial offering directly addresses this segment's needs. Here's a quick look at the financial context supporting this customer base:

Metric	Value (Q1 2025 or Forecast 2025)
Q1 2025 Revenue	$8.9 million
Forecasted Annual Revenue (Average Analyst Estimate)	$188,653,209
Reported Annual Revenue (LTM as of Sep 2025)	$37.32 million
Gross Margin (Latest Reported)	33.3%

Institutional and retail investors in the biotech sector

This segment provides the necessary capital for operations and pipeline advancement. The company actively engages with this group through capital raises and market presence on NASDAQ.

• Sunshine Biopharma, Inc. closed a registered direct offering of approximately $2.46 million with institutional investors on April 3, 2025.
• The company made a strategic $5 million investment in Bitcoin as part of its strategic asset reserve to enhance treasury resilience.
• The stock trades on NASDAQ under the ticker SBFM.
• One Wall Street analyst has issued a 1-year price target of $7.00.
• The forecasted net loss for 2025 is approximately -$5,992,637.

The company's Q1 2025 revenue growth was 18% year-over-year, showing top-line momentum that appeals to this investor segment, defintely.

Sunshine Biopharma, Inc. (SBFM) - Canvas Business Model: Cost Structure

The Cost Structure for Sunshine Biopharma, Inc. is heavily influenced by the dual nature of its business: maintaining a commercial generics operation while funding early-stage biopharmaceutical research.

High General and Administrative (G&A) expenses represent a significant fixed cost component. For the first quarter of 2025, G&A expenses were reported at $4.03 million. This figure reflected an 8.7% rise year-over-year, which management noted outpaced the increase in gross profit for that period, signaling ongoing operational pressure.

Cost of Goods Sold (COGS), or Cost of Revenue, is tied directly to the sales volume of the generic drug manufacturing and acquisition segment, primarily through Nora Pharma. For the quarter ending June 2025, the Cost of Revenue was reported at $6.0Mn. Based on Q1 2025 results, where Revenue was $8.90 million and Gross Profit was $2.73 million, the implied COGS for that quarter was approximately $6.17 million ($8.90 million minus $2.73 million).

The company continues to incur costs related to Significant Research and Development (R&D) expenditure for pipeline drugs. While specific R&D dollar amounts for Q1 2025 are not explicitly detailed in the G&A context, progress was noted on the K1.1 mRNA Lipid Nanoparticle product for hepatocellular carcinoma.

Costs associated with Regulatory compliance and clinical trial costs are inherent to the biopharma segment, particularly for advancing proprietary assets like the K1.1 program, though specific financial figures for these activities are not itemized in the readily available quarterly summaries.

Here is a look at some key cost-related metrics from the first half of 2025:

Cost Metric	Period	Amount
General and Administrative (G&A) Expenses	Q1 2025	$4.03 million
Cost of Revenue (COGS)	June 2025	$6.0Mn
Implied COGS	Q1 2025	Approximately $6.17 million
Net Loss	Q1 2025	$(1.18) million
Net Loss	Q2 2025	$1.77 million

The operational structure shows that G&A expenses of $4.03 million in Q1 2025 significantly exceeded the reported Gross Profit of $2.73 million for the same period, underscoring the challenge of covering overhead with current gross margins.

The company has expanded its commercial footprint, launching 6 new generic prescription drugs in Q1 2025, which contributes to the COGS base and associated operational costs.

• G&A expenses increased by 8.7% in Q1 2025 year-over-year.
• The generics portfolio included 70 products on the market, with 13 more slated for 2025.
• Q1 2025 revenue was $8.9 million.

Finance: draft 13-week cash view by Friday.

Sunshine Biopharma, Inc. (SBFM) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving Sunshine Biopharma, Inc.'s top line as of late 2025. The revenue streams are a mix of established generics and newer, higher-potential biosimilar entries, plus a novel treasury strategy.

The core revenue generation comes from the established generic prescription drug portfolio. For the first quarter of 2025, Sunshine Biopharma, Inc. reported total revenue of $8.9 million. This represented an 18% year-over-year growth compared to Q1 2024's $7.54 million.

Looking at the broader picture through the third quarter of 2025, the Trailing Twelve Month (TTM) revenue, ending September 30, 2025, stood at $37.32 million. This TTM figure reflects a 13.24% year-over-year growth. For the nine months ended September 30, 2025, the cumulative revenue was $27.728 million, which was up 9.7% compared to the same period in the prior year. The most recent quarterly figure, Q3 2025 revenue, was $9,417,179.

A significant new component to the revenue stream is the launch of new products, specifically the biosimilar NIOPEG®, through its Canadian subsidiary, Nora Pharma Inc.. This product is comparable to NEULASTA® (Pegfilgrastim). The global market for NEULASTA® and its biosimilars was estimated at $4.5 billion in 2024, with projections to reach $9.2 billion by 2033, showing a compound annual growth rate (CAGR) of 8.5%. The Canadian market for biologics was substantial, reaching $10 billion in 2020. At the time of the NIOPEG® launch, Sunshine Biopharma, Inc. already had 72 generic prescription drugs on the Canadian market, with plans to launch more than 12 additional drugs through the remainder of 2025.

Here's a quick look at the key revenue milestones as of late 2025:

• Sales from generics generated $8.9 million in Q1 2025.
• TTM revenue as of Q3 2025 was $37.32 million.
• Cumulative revenue for the first nine months of 2025 was $27.73 million.
• NIOPEG® targets a segment of the global market valued at $4.5 billion in 2024.

Sunshine Biopharma, Inc. also introduced a non-traditional revenue-related financial strategy. On October 14, 2025, the Board approved a strategic investment of $5 million in Bitcoin (BTC) as a treasury reserve asset. Management views this as a hedge and a high-conviction asset, with plans to increase holdings as funds become available.

You can see the recent revenue progression below:

Period	Revenue Amount	Change Metric
Q1 2025	$8.90 million	Up 18% Year-over-Year
Q3 2025 (Quarterly)	$9.42 million	Up 11.64% Year-over-Year
Nine Months Ended Sep 30, 2025 (Cumulative)	$27.73 million	Up 9.69% Year-over-Year
TTM Ended Sep 30, 2025	$37.32 million	Up 13.24% Year-over-Year

The company's strategy clearly involves scaling its existing generics business while using the cash flow to enter higher-margin areas like biosimilars with NIOPEG®, which is a key driver for future revenue diversification. Finance: draft 13-week cash view by Friday.