Cardiome Pharma Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported revenues of USD 6.021 million against USD 5.237 million a year ago. Operating loss was USD 4.838 million against USD 4.128 million a year ago. Loss before income taxes was USD 6.549 million against USD 5.196 million a year ago. Net loss was USD 6.623 million against USD 5.284 million a year ago. Basic and diluted loss per share was USD 0.20 against USD 0.19 a year ago. Net cash used in operating activities was USD 4.270 million against USD 4.403 million a year ago. Purchase of intangible assets was USD 5.206 million against USD 8.017 million a year ago. The increase in revenue for the third quarter was primarily attributable to the global commercial rollout of Xydalba™ and higher sales of Aggrastat® in the Middle East. Revenue for the nine months ended September 30, 2017 and 2016 was USD 17.0 million and USD 18.2 million, respectively. The decrease in revenue for the nine months ended September 30, 2017 was due to the timing of distributor sales.

For the nine months, the company reported revenues of USD 16.974 million against USD 18.238 million a year ago. Operating loss was USD 16.715 million against USD 9.760 million a year ago. Loss before income taxes was USD 21.363 million against USD 13.807 million a year ago. Net loss was USD 21.468 million against USD 14.032 million a year ago. Basic and diluted loss per share was USD 0.66 against diluted loss per share of USD 0.62 a year ago. Net cash used in operating activities was USD 18.374 million against USD 11.254 million a year ago. Purchase of intangible assets was USD 5.219 million against USD 13.628 million a year ago. Purchase of property and equipment was USD 5,000 against USD 9,000 a year ago. The increase in net loss on a year-to-date basis was due primarily to an increase in selling, general and administration (SG&A) expense and a decrease in revenue.

The company expects its 2017 revenues to be in the range of USD 24 million to USD 26 million.