Novelion Therapeutics Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. GAAP total net revenues for the third quarter of 2018 were $30.3 million compared to $28.7 million for the same period of 2017. Revenue growth in Japan, Brazil and other foreign markets as well as growth of U.S. MYALEPT sales offset the decline of JUXTAPID sales in the U.S. GAAP net loss in the third quarter of 2018 was $24.8 million, an improvement of approximately 50% compared to GAAP net loss of $49.7 million during the same period in 2017. On a pro forma basis, net loss in the third quarter of 2018 improved by approximately 79% to $3.5 million, compared to a net loss of $16.6 million for the same period in 2017. Loss from operations was $11.727 million against $39.399 million a year ago. Loss before provision for income taxes was $24.675 million against $49.247 million a year ago. Net loss per common share, basic and diluted was $1.32 against $2.67 a year ago. Non-GAAP net loss per common share, basic and diluted was $0.19 against $0.89 a year ago.

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.