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PMGC Holdings Inc. (ELAB+4.56%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's transition from a skincare business to a diversified holding company with a focus on biotechnology and investment through its subsidiaries: NorthStrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC.
NorthStrive Biosciences Inc. is focused on developing aesthetic medicines and therapeutic products, with its lead asset EL-22 targeting obesity-related muscle preservation.
PMGC Research Inc. is engaged in medical scientific research in Canada, leveraging government grants and partnerships with Canadian universities.
PMGC Capital LLC operates as a multi-strategy investment firm, focusing on direct investments, strategic lending, and acquiring undervalued companies.
The company reported a net loss of $6,245,737 for the year ended December 31, 2024, compared to a net loss of $4,301,517 in the previous year.
PMGC Holdings Inc. had a net working capital of $4,251,867 as of December 31, 2024, and cash of $3,984,453.
The company completed the divestiture of its Elevai Skincare business in January 2025 to focus on its biotechnology and investment operations.
PMGC Holdings Inc. plans to continue growing its portfolio through acquisitions and development of biotechnology assets, while also exploring potential spin-offs of its subsidiaries.
The filing includes details on the company's business strategy, financial condition, and risk factors, highlighting its focus on strategic acquisitions and biotechnology development.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PMGC Holdings Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.