Tuesday, March 20, 2018 @ 12:00 am
Pratteln, Switzerland, March 20, 2018 - Santhera Pharmaceuticals (SIX: SANN) reports the Group's audited financial results for 2017. Net revenues from sales of lead product Raxone® (idebenone) increased by 21% compared to the previous year to CHF 22.9 million. The operating result of CHF -50.5 million reflects predominantly investments in several ongoing clinical development programs and preparations for regulatory submissions as well as commercial activities in Europe and the US. The net result amounted to CHF -51.5 million (2016: CHF -35.4 million), in line with the Company's guidance. With the in-licensing of a clinical stage drug candidate in February 2018, Santhera achieved the key objective of broadening its pipeline in rare diseases. Santhera will continue to review opportunities to expand its product pipeline for the treatment of rare neuro-ophthalmological, neuromuscular and pulmonary diseases. At the end of February 2018, the Company had cash, cash equivalents and short-term financial assets of CHF 50.9 million, allowing it to pursue its planned development and commercial activities.
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