Zealand Pharma: zero revenue with lack of milestone payment
(CercleFinance.com) - Danish biopharmaceutical firm Zealand Pharma reported a first-quarter loss, due to higher costs and a lack of milestone payments.
The company - which has initiated three Phase 3 studies this year - said it made zero revenue in the first three months of the year, making a net operating loss of 135.8 million Danish kronor (-20.4 million dollars), as net operating expenses amounted to 135.9 million Danish kronor (20.4 million dollars).
For 2019, Zealand said it expects revenue from new potential partnership agreements, and from milestones from existing license agreements, but does not guide on such revenue "since such revenue is uncertain in terms of size and timing."
Net operating expenses in 2019 are expected to be limited to around 550 million - 570 million Danish kronor, it added.
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The company - which has initiated three Phase 3 studies this year - said it made zero revenue in the first three months of the year, making a net operating loss of 135.8 million Danish kronor (-20.4 million dollars), as net operating expenses amounted to 135.9 million Danish kronor (20.4 million dollars).
For 2019, Zealand said it expects revenue from new potential partnership agreements, and from milestones from existing license agreements, but does not guide on such revenue "since such revenue is uncertain in terms of size and timing."
Net operating expenses in 2019 are expected to be limited to around 550 million - 570 million Danish kronor, it added.
Copyright (c) 2019 CercleFinance.com. All rights reserved.