Novelion Therapeutics Inc. Announces Unaudited Consolidated Financial Results for the Quarter and Six Months Ended June 30, 2018; Provides Revenue Guidance for the Year 2019
For the six months, the company reported net revenues of $59,388,000 against $70,861,000 a year ago. Loss from operations was $39,370,000 against $33,435,000 for the same period a year ago. Loss before provision for income taxes was $62,885,000 against $52,133,000 for the same period a year ago. Net loss was $64,090,000 against $52,398,000 for the same period a year ago. Basic and diluted net loss per common share was $3.42 against $2.82 for the same period a year ago. Non-GAAP net loss was $24,652,000 against $10,083,000 for the same period a year ago. Non-GAAP basic and diluted net loss per common share was $1.32 against $0.54 for the same period a year ago.
In addition to top-line growth, the company intends to further its operational improvements with the goal of creating a pathway to sustainable positive cash flow and robust EBITDA growth. Given its progress on these initiatives, the company intends to re-engage with the investor and analyst community, and the company also plans to resume revenue guidance for 2019.