Zealand Pharma: quarterly loss widens as revenues drop

(CercleFinance.com) - Danish biotechnology company Zealand Pharma reported a bigger quarterly loss on Wednesday as the company's revenues fell, while it spent more.


The company, which designs innovative peptide-based medicines, said that its net loss increased to 91.4 million Danish kronor, or -15.2 million dollars, in the first quarter to 31 March, from -26.3 million Danish kronor, or -3.8 million dollars, a year earlier.

Total revenues - reported previously - fell to 10.8 million Danish kronor (1.8 million dollars) from 77.6 million Danish kronor (11.2 million dollars).

On the other hand, net operating expenses rose to 91.9 million Danish kronor (15.3 million dollars) from 70.5 million Danish kronor (10.1 million dollars) in the first quarter of 2017.

Zealand maintains its financial guidance for full-year 2018, still targeting net operating expenses of between 475 million Danish kronor and 495 million Danish kronor this year (76-80 million dollars).

Copyright (c) 2018 CercleFinance.com. All rights reserved.