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.