Five Prime Therapeutics, Inc. Reports Earnings Results for First Quarter Ended March 31, 2018; Provides Cash Flows Outlook for the Year 2018
Five Prime Therapeutics, Inc. reported earnings results for first quarter ended March 31, 2018. For the period, the company's collaboration and license revenue was $32,486,000 against $10,135,000 a year ago. Operating loss was $21,544,000 against $34,111,000 a year ago. Loss before income tax was $20,390,000 against $33,443,000 a year ago. Net loss was $20,390,000 against $33,443,000 a year ago. Basic and diluted net loss per common share was $0.63 against $1.21 a year ago.
The company expects full-year 2018 net cash used in operating activities to be less than $135 million, which includes the previously mentioned milestone payments earned by Five Prime. Five Prime estimates ending 2018 with approximately $250 million in cash, cash equivalents and marketable securities.