Velan Inc. reported a net loss of $15.1 million, or $0.70 per share, for the second quarter of fiscal 2027. The company recorded a net loss of $1.7 million in the same period last year.
Sales fell to $57.5 million from $67.6 million a year earlier. Velan attributed the results partly to the timing and complexity of production orders, which pushed shipments into later periods.
Management also said uncertainty over changing tariff regulations and ongoing geopolitical tensions weighed on customer demand and order timing. Velan is scheduled to discuss the results on a conference call on October 8.