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SBFM on Nasdaq

Sunshine Biopharma Inc.

Sunshine Biopharma Inc. is an American pharmaceutical preparations company based in Pointe-Claire.2 Its shares trade on Nasdaq under the symbol SBFM.2

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Last updated Oct 21, 2026.

Overview

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  • TickerSBFM on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersNew York, United States2
  • Incorporated inCO3
  • Business address333 Las Olas Way, Cu4 Suite 433, Fort Lauderdale, Fl 333013
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI5299005Y64EHRQDQ2Q252
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o Evans Case, LLP, 1660 S Albion St Ste 110, 80222 Denver, United States2
  • Registered withBusiness Division of the Secretary of State’s office, 200613584312

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In-licensing and Supply Agreements: Nora Pharma acquires the rights to import, market, sell and distribute the products in Canada by purchasing the drug dossiers from strategic partners. Nora Pharma then files the dossiers with Health Canada to obtain regulatory approval prior to marketing. The approval process at Health Canada takes on average of 12 months. The products are sold under Nora Pharma label.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

33.8%Gross margin5
-17.2%Operating margin5
-16.5%Net margin5
4.1%Revenue growth, 20255
-25.9%Return on equity5
-$5.5MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue66¢$24.1M
  • Research and development2¢$604.3K
  • Other costs32¢$11.6M
  • Income tax0¢$21.6K

Out of $36.3M in revenue.5 The company lost money this year.

Financial statements

Revenue6789105$36.3M in 2025+171795% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $21.1K$21.1K20192020: $71.4K$71.4K2020+238%2021: $228.4K$228.4K2021+220%2022: $4.3M$4.3M2022+1802%2023: $24.1M$24.1M2023+454%2024: $34.9M$34.9M2024+45%2025: $36.3M$36.3M2025+4%
Gross profit6789105$12.3M in 2025+121593% since 2019
0$5.0M$10.0M$15.0M2019: $10.1K$10.1K20192020: $45.6K$45.6K2020+352%2021: $110.6K$110.6K2021+143%2022: $1.7M$1.7M2022+1434%2023: $8.3M$8.3M2023+392%2024: $10.7M$10.7M2024+28%2025: $12.3M$12.3M2025+15%
Operating income6789105-$6.2M in 2025+870% since 2019
-$30.0M-$20.0M-$10.0M02019: -$641.6K-$641.6K20192020: -$576.9K-$576.9K2020−10%2021: -$2.4M-$2.4M2021+323%2022: -$27.0M-$27.0M2022+1007%2023: -$4.8M-$4.8M2023−82%2024: -$5.8M-$5.8M2024+21%2025: -$6.2M-$6.2M2025+7%
Net income6789105-$6.0M in 2025+260% since 2019
-$30.0M-$20.0M-$10.0M02019: -$1.7M-$1.7M20192020: -$2.8M-$2.8M2020+68%2021: -$12.4M-$12.4M2021+347%2022: -$26.7M-$26.7M2022+115%2023: -$4.5M-$4.5M2023−83%2024: -$5.1M-$5.1M2024+14%2025: -$6.0M-$6.0M2025+16%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Revenue:$36.3M$34.9M
Cost of Sales$24.1M$24.2M
Gross profit$12.3M$10.7M
Accounting$698.1K$967.6K
Consulting$1.6M$925.2K
Director fees$400.0K$400.0K
Intangible assets impairment$1.7M$0
Legal$385.1K$875.7K
Marketing$1.1M$940.3K
Office$3.9M$3.1M
R&D$604.3K$933.9K
Salaries$7.3M$7.7M
Taxes$469.3K$387.0K
Depreciation & amortization$332.1K$223.5K
Total General & Administrative Expenses$18.5M$16.5M
(Loss) from operations-$6.2M-$5.8M
Foreign exchange gain (loss)$2.6K-$44.1K
Interest income$280.9K$496.0K
Interest expense$0-$8.8K
Gain (Loss) on asset sale-$10.3K$0
Total Other Income (Expense)$273.3K$443.1K
Net (loss) before income taxes-$6.0M-$5.4M
Provision for income taxes$21.6K-$234.9K
Net (Loss)-$6.0M-$5.1M
Gain (Loss) from foreign exchange translation$764.6K-$1.5M
Comprehensive (Loss)-$5.2M-$6.7M
(Loss) per common share, Basic-$1.44-$7.32
Weighted average common shares outstanding, Basic4.2M shares701.7K shares

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Corporate structure

Sunshine Biopharma Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Sunshine Biopharma Inc.

  • Sunshine Biopharma Inc. New York, New York, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Sunshine Biopharma Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.1M5 Dec 31, 2025$882.6K5 Dec 31, 2024+21.3%
Accumulated depreciation$512.9K5 Dec 31, 2025$336.5K5 Dec 31, 2024+52.4%
Property and equipment, net$557.4K5 Dec 31, 2025$546.1K5 Dec 31, 2024+2.1%
Operating-lease assets (leased space)$778.8K5 Dec 31, 2025$936.0K5 Dec 31, 2024−16.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$010 Dec 31, 2024$010 Dec 31, 2023
Intangible assets, net (excluding goodwill)$1.9M5 Dec 31, 2025$3.0M5 Dec 31, 2024−37.4%
Finite-lived intangibles, gross$3.8M5 Dec 31, 2025$3.1M5 Dec 31, 2024+22.6%
Accumulated amortization$156.5K5 Dec 31, 2025$76.2K5 Dec 31, 2024+105.4%
Finite-lived intangibles, net$1.9M5 Dec 31, 2025$3.0M5 Dec 31, 2024−37.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$13.5M5 Dec 31, 2025$11.3M5 Dec 31, 2024+19.5%
Finished goods$13.9M5 Dec 31, 2025$11.3M5 Dec 31, 2024+23.7%

Properties, in its own words

Our principal place of business is located at 333 Las Olas Way, CU4 Suite 433, Fort Lauderdale, FL 33301. We are not party to a lease agreement in connection with this office space. We pay rent month-to-month and have access to additional space on a pay-per-use basis. We believe this space is sufficient for our needs for the next year.

Our wholly owned subsidiary, Nora Pharma, currently occupies a 23,500 square foot facility located at 1565 Boulevard Lionel-Boulet, Varennes, Quebec, Canada, J3X 1P7 pursuant to a lease agreement that expires in January 2030, with an option to extend for 5 years. This site is composed of 18,500 square feet of warehouse space and 5,000 square feet of executive office space. The facility houses all administrative, marketing, quality control, regulatory affairs, and other operations personnel, as well as a Health Canada licensed warehouse space. We pay a monthly rent of $27,250 CAD (approximately $19,900 USD), including taxes. We estimate that this facility is adequate for annual sales of approximately $50 to $75 million, past which we will need to find additional space. We classified this lease as an operating lease but we account for liabilities and benefits resulting therefrom.

Item 2 of the 10-K filed Apr 3, 2026.4

Leadership

Who has led Sunshine Biopharma Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Steve N. Slilaty2009–2024

President

  1. Steve N. Slilaty2009

Chief financial officer

  1. Camille Sebaaly2009–2022

Chief operating officer

  1. Turi Michele Di2009–2015
  2. Abderrazzak Merzouki2015–2021
  3. Marc Beaudoin2024
2010201520202025
Board members and other officers (10)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorAndrew N. Keller named Mar 18, 2022 to May 17, 202324
  • DirectorRabi N. Kiderach named May 17, 202324

Former names

  • Sunshine Biopharma, IncNov 6, 2009 to Oct 17, 20243
  • Mountain West Business Solutions, IncNov 5, 2007 to Nov 2, 20093
  • mountain west business solutions,incOct 19, 2007 to Oct 19, 20073
  • mountain state business solutions,incMay 25, 2007 to May 25, 20073

Timeline

  1. Oct 14, 20268-K Shareholder vote25
  2. Oct 9, 20268-K Entered a material agreement; Other events26
  3. Sep 16, 20268-K Shareholder vote27
  4. Sep 11, 20268-K Other events28
  5. Aug 28, 20268-K Executive or director change29
  6. Aug 3, 20268-K Other events30
  7. Jul 20, 20268-K Entered a material agreement31
  8. Jul 10, 20268-K Entered a material agreement32
  9. May 29, 20268-K Shareholder vote33
  10. May 19, 20268-K Entered a material agreement; Other events34
  11. Apr 9, 20268-K Results of operations35
  12. Mar 9, 20268-K Other events36
  13. Nov 2, 2009New chief executive Steve N. Slilaty becomes CEO13
  14. Aug 31, 2006Founded Sunshine Biopharma Inc. is founded2

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($1.90) a share, on Nov 13, 2025.37

When it reported results

  1. Apr 9, 2026Reported quarterly or annual results35
  2. May 19, 2025Reported quarterly or annual results38
  3. Apr 2, 2025Reported quarterly or annual results39
  4. Nov 7, 2024Reported quarterly or annual results40
  5. Aug 19, 2024Reported quarterly or annual results41
  6. May 22, 2024Reported quarterly or annual results42
  7. Apr 1, 2024Reported quarterly or annual results43
  8. Nov 13, 2023Reported quarterly or annual results44

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

223 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 68 major events, 15 insider forms, 18 large holders, 3 private raises, 98 other. The latest 20:

  1. Oct 14, 2026SCHEDULE 13G EDGAR
  2. Oct 14, 2026PRE 14C PRELIMINARY INFORMATION STATEMENT EDGAR
  3. Oct 14, 20268-K CURRENT REPORT EDGAR
  4. Oct 13, 2026SCHEDULE 13G EDGAR
  5. Oct 9, 20268-K CURRENT REPORT EDGAR
  6. Oct 9, 2026424B4 PROSPECTUS EDGAR
  7. Oct 7, 2026EFFECT EDGAR
  8. Oct 5, 2026SCHEDULE 13G/A EDGAR
  9. Oct 2, 2026S-1 EDGAR
  10. Sep 28, 2026DEF 14C DEFINITIVE INFORMATION STATEMENT EDGAR
  11. Sep 24, 2026DRS EDGAR
  12. Sep 16, 2026PRE 14C PRELIMINARY PROXY EDGAR
  13. Sep 16, 20268-K EDGAR
  14. Sep 11, 20268-K EDGAR
  15. Sep 8, 2026EFFECT EDGAR
  16. Sep 8, 2026424B3 EDGAR
  17. Aug 28, 2026S-1 EDGAR
  18. Aug 28, 20268-K CURRENT REPORT EDGAR
  19. Aug 14, 2026SCHEDULE 13G/A EDGAR
  20. Aug 13, 202610-Q FORM 10-Q FOR JUN 2026 EDGAR

The 223 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 4, 2024Slilaty Steve N.Chief Executive OfficerBuy100,000$0.10$10.0KForm 4
Feb 8, 2024Slilaty Steve N.Chief Executive OfficerBuy20,000$0.10$2.0KForm 4
Nov 30, 2022Sebaaly CamilleCFO/SecretaryBuy30,000$0.76$22.8KForm 4
Jun 3, 2022Sebaaly CamilleCFO/SecretaryBuy25,000$1.22$30.5KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Dr. Steve N. Slilaty73$411.6K$1.2M54
2024Camille Sebaaly64$302.0K$352.0K54
2024Dr. Abderrazzak Merzouki61$241.6K$286.6K54
2023Chief Financial Officer$315.0K$695.0K54
2023Chief Executive Officer and Director$378.0K$560.0K54
2023Chief Operating Officer and Director$252.0K$260.0K54

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 12, 2023Raised $5 million in a private offering of equity Form D: 1 investor so far Form D
  2. Apr 25, 2022Raised $19.5 million in a private offering of equity Form D: 9 investors so far Form D
  3. Mar 10, 2022Raised $8 million in a private offering of equity Form D: 9 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Jane Street Group, LLC14,974$31.4K0.0%New
Morgan Stanley385$8080.0%New
SBI Securities Co., Ltd.162$3400.0%New
National Bank Of Canada /fi/5$100.0%New
Osaic Holdings, Inc.2$40.0%New
Caitong International Asset Management Co., Ltd1$20.0%New
Farther Finance Advisors, LLC1$20.0%New
TD Waterhouse Canada Inc.1$20.0%New
Strive Financial Group ,LLC1$20.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 30, 2022Roger WilliamsRepublican, HouseBuy$1,001 - $15,000−204.6%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Sunshine Biopharma Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSunshine Biopharma Inc.1
  • CIK0001402328
  • Employer ID (EIN)20-55662754
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company4
  • Incorporated inColorado4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address333 Las Olas Way, Cu4 Suite 433, Fort Lauderdale, FL 333011
  • Phone954-330-06841
  • Shares outstanding3,877,337 as of Aug 13, 202612
  • Public float$7.1M as of Jun 30, 20254
  • AuditorM&K CPAS, PLLC, The Woodlands, TX PCAOB ID 2738; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMay 25, 20071
  • Filings427 in all: 8-K (98), 10-Q (54), 4 (40), CORRESP (19), 10-K (17), PRE 14C (15), UPLOAD (15), 3 (13)1
    All 49 form types

    DEF 14C (13), EFFECT (13), NT 10-Q (13), 424B3 (8), S-1 (8), S-1/A (7), SCHEDULE 13G (7), 4/A (6), NT 10-K (6), SCHEDULE 13G/A (6), 424B4 (5), RW (5), SC 13G (5), 8-K/A (4), D (4), DEF 14A (4), S-3 (4), 10QSB (3), 10QSB/A (3), 10-Q/A (2), 10KSB (2), 10KSB/A (2), 424B5 (2), DEFA14A (2), DEFR14C (2), DRS (2), POS AM (2), PRE 14A (2), S-4 (2), 10-KT (1), 3/A (1), 8-A12B (1), 8-A12G (1), CERT (1), DEL AM (1), DRSLTR (1), REGDEX (1), S-8 (1), SB-2 (1), SC 13G/A (1), SC 14F1 (1)

  • Latest filingsAnnual report (10-K) Apr 3, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Oct 23, 2025
    Latest 8-K (8-K) Oct 14, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001SBFMNasdaq
WarrantsSBFMWNasdaq

From the cover page of the 10-K filed Apr 3, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Sunshine Biopharma Inc. names in Item 1A of its 10-K filed Apr 3, 2026: 27 risks under these headings, as written.4

  • Risks Related to Our Business
  • We have incurred losses and may never achieve profitability
  • We are subject to the significant risks associated with the generic pharmaceutical business
  • Sales of our generic products may be adversely affected by the drug regulatory environment in Canada
  • Our revenues from generic products may decline as a result of competition from other pharmaceutical companies and changes in regulatory policy
  • We may experience delays in launching our new generic products
  • We may not receive required regulatory approval for any of our non-generic pharmaceutical product candidates
  • As we have no approved non-generic pharmaceutical products on the market, we do not expect to generate significant revenues from non-generic pharmaceutical product sales in the foreseeable future, if at all
  • We will require additional funding to satisfy our future capital needs, which may not be available
  • We may be sued or become a party to litigation, which could require significant management time and attention and result in significant legal expenses and may result in an unfavorable outcome which could have a material adverse effect on our business, financial condition, results of operations and cash flow
  • If we are unable to attract and retain qualified scientific, technical, and key management personnel, or if our key executive, Dr. Steve N. Slilaty, discontinues his employment with us, it may delay our research and development efforts
  • Our business exposes us to potential product liability risks and we may be unable to acquire and maintain sufficient insurance to provide adequate coverage against potential liabilities
The other 16 risks
  • We face regulation and risks related to hazardous materials and environmental laws, violations of which may subject us to claims for damages or fines that could materially affect our business, cash flow, financial condition and results of operations
  • Third party manufacturers may not be able to manufacture our pharmaceutical product candidates, which would prevent us from commercializing our product candidates
  • If we are unable to establish sales and marketing capabilities for our pharmaceutical product candidates or enter into agreements with third parties to sell and market any such products we may develop, we may be unable to generate revenues from our non-generic pharmaceutical business
  • Even if we successfully develop and obtain approval for our proprietary drug product candidates, our business will not be profitable if such products do not achieve and maintain market acceptance
  • Because the results of preclinical studies for our preclinical product candidates are not necessarily predictive of future results, our pharmaceutical product candidates may not have favorable results in later clinical trials or ultimately receive regulatory approval
  • We face or will face significant competition from other biotechnology and pharmaceutical companies, and our operating results will suffer if we fail to compete effectively
  • Because our proprietary drug product candidates and our development and collaboration efforts depend on our intellectual property rights, adverse events affecting our intellectual property rights will harm our ability to commercialize products
  • Confidentiality agreements with employees and others may not adequately prevent disclosure of trade secrets and other proprietary information and may not adequately protect our intellectual property
  • The implementation of our business plan may result in a period of rapid growth that will impose a significant burden on our current administrative and operational resources
  • The failure of our suppliers to supply quality materials in sufficient quantities, at a favorable price, and in a timely fashion could adversely affect the results of our operations
  • Our manufacturing and third-party fulfillment activities are subject to certain risks
  • We are dependent on a concentrated base of finished goods suppliers, which increases our risk of product interruption
  • Risks Related to Our Common Stock
  • There is significant volatility in the price and trading volume of our common stock, and investors may find it difficult to buy and sell our shares
  • If we are unable to continue to meet the listing requirements of Nasdaq, our common stock will be delisted
  • We do not intend to pay dividends on our common stock for the foreseeable future
  • Our articles of incorporation allow for our board to create new series of preferred stock without further approval by our stockholders, which could adversely affect the rights of the holders of our common stock
  • Additional stock offerings in the future or the issuance of stock upon exercise of outstanding warrants may dilute then-existing shareholders’ percentage ownership in our Company

Legal proceedings

We are not party to, and our property is not the subject of, any legal proceedings, except as set forth below.

On January 16, 2026, the Company received a demand letter from the attorneys of Mr. Andrew Telsey, the Company’s former legal counsel, asserting that the Company and Mr. Telsey executed an employment agreement and demanding payment of $3,645,750 from the Company based on the Company’s alleged termination of the purported employment agreement without cause. The Company believes this demand is without merit and has never executed an employment agreement with Mr. Telsey. On that basis, among other factors, the Company filed a complaint against Mr. Telsey on February 6, 2026 in the circuit court of the 17th judicial district in Broward County, Florida seeking a declaratory judgment providing that (i) the purported employment agreement is of no legal effect and is not binding upon the Company, (ii) no monies are owed by the Company to Mr. Telsey under the purported employment agreement, (iii) the Company should be awarded its attorney’s fees and costs, and (iv) the Company should be awarded such other relief as the court deems just and proper. On March 30, 2026, the court granted the Company’s motion for entry of default and entered a default and final judgment in favor of the Company. Pursuant to the court’s order, the court declared that the purported employment agreement is of no legal effect and not binding on the Company, because the Company never executed the agreement, the Company did not breach the purported employment agreement, and no monies are owed by the Company to Mr. Telsey under the purported employment agreement. The court retained jurisdiction on the issues of entitlement and amount of attorney’s fees and costs to the Company as the prevailing party.

The opening of Item 3, Legal Proceedings.4

Sources

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