Veloxis Pharmaceuticals A/S reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the first quarter of 2016 the company recognized revenue of USD 4,000,000 compared to USD 1,500,000 in the same period of 2016. Operating loss was USD 5,223,000 compared to USD 6,929,000 in the corresponding period of 2016. Loss before tax was USD 5,617,000 against USD 7,109,000 year ago. Net loss was USD 5,891,000 compared to USD 7,109,000 in the corresponding period of 2016. Basic and diluted LPS were USD 0.00 against USD 0.00 a year ago. Cash used in operating activities were USD 4,173,000 against USD 10,599,000 a year ago. Purchase of property, plant and equipment was USD 113,000.

The company maintains its 2017 outlook of operating loss before the recognition of income from license agreements and before accounting for stock compensation to be in the range of USD 5 ­ 15 million.