Kane Biotech (KNE.V) Q1 Revenue Falls 45% on Shift to Human Wound Care

Kane Biotech Inc. (KNE.V) reported Q1 revenue of C$0.57 million, a 45% year-over-year decline, as the company continues transitioning its focus from animal health to human wound care products. The results, released May 29, 2026, reflect a deliberate scaling back of legacy animal health sales while ramping up commercialization of its revyve™ antimicrobial wound gel. Gross profit fell to C$0.24 million from C$0.53 million a year earlier. Management said the revenue mix is shifting toward higher-margin human health products, which comprised 70% of quarterly sales versus 40% in the year-ago period. Cash and equivalents stood at C$1.1 million as of March 31, 2026. "Q1 marks our final quarter dominated by legacy animal health revenues," CEO Marc Edwards said. The company expects revyve™ production at its new Canadian facility to accelerate in the second half of 2026, targeting a growing market for chronic wound management.