Novelion Therapeutics Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Net Product Sales Guidance for 2018 and 2019
GAAP total net revenues for the first nine months of 2018 were $89.7 million compared to $99.5 million for the same period of 2017. Named patient sales in Brazil totaled $1.9 million in the first nine months of 2018, as compared to the first nine months of 2017, which benefitted from $11.0 million of named patient sales in Brazil. GAAP net loss for the first nine months of 2018 was $88.9 million compared to GAAP net loss of $102.1 million during the same period in 2017. Net loss on a pro forma basis for the first nine months of 2018 was $28.2 million, compared to $26.7 million for the same period in 2017. Loss from operations was $51.098 million against $72.834 million a year ago. Loss before provision for income taxes was $87.560 million against $101.380 million a year ago. Net loss per common share, basic and diluted was $4.74 against $5.49 a year ago. Non-GAAP net loss per common share, basic and diluted was $1.50 against $1.44 a year ago.
The company expects total net product sales in 2018 to be between $130 and $140 million and total net product sales in 2019 to be between $145 and $160 million.