Carna Biosciences, Inc. Reports Consolidated and Non-Consolidated Financial Results for the Year Ended December 31, 2017; Provides Consolidated Earnings Guidance for the Year Ending Dec. 31, 2018
February 08, 2018
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Carna Biosciences, Inc. reported consolidated and non-consolidated financial results for the year ended December 31, 2017. For the year, on consolidated basis, the company reported operating loss of ¥699 million and loss attributable to owners of parent of ¥737 million or ¥78.53 per basic share on net sales of ¥657 million against operating loss of ¥423 million and loss attributable to owners of parent of ¥289 million or ¥31.64 per basic share on net sales of ¥811 million for the same period of last year. Ordinary loss was ¥711 million against ¥440 million for the same period of last year. Negative return on equity was 47.6% against 16.1% a year ago. Negative return on assets was 29.9% against 18.0% a year ago. Loss before income taxes was ¥733.380 million against ¥288.926 million for the same period of last year. Net cash used in operating activities was ¥561.055 million against ¥452.967 million for the same period of last year. Purchase of property, plant and equipment was ¥38.013 million against ¥31.070 million for the same period of last year.
For the year, on non-consolidated basis, the company reported operating loss of ¥692 million and loss of ¥762 million or ¥81.26 per share on net sales of ¥560 million against operating loss of ¥401 million and loss of ¥262 million or ¥28.70 per share on net sales of ¥729 million for the same period of last year. Ordinary loss was ¥703 million against ¥414 million for the same period of last year.
For the year ending Dec. 31, 2018, the company expects, operating loss of ¥679 million and loss attributable to owners of parent of ¥758 million or ¥79.39 per basic share on net sales of ¥1,190 million. The company expects ordinary loss of ¥694 million.
Carna Biosciences, Inc. is a Japan-based company mainly engaged in the drug development support business and the drug development business. The Company operates in two business segments. The Drug Development Support segment is engaged in sales of protein kinase, development of assay, as well as provision of profiling and screening service. The Drug Development segment is engaged in the research and development of kinase inhibitors and other drugs.
Carna Biosciences, Inc. Reports Consolidated and Non-Consolidated Financial Results for the Year Ended December 31, 2017; Provides Consolidated Earnings Guidance for the Year Ending Dec. 31, 2018