Veloxis Pharmaceuticals A/S announced earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported revenue of DKK 1,195,000 against DKK 3,214,000 a year ago. Operating loss was DKK 65,339,000 against DKK 56,331,000 a year ago. Loss before tax was DKK 63,801,000 against DKK 50,665,000 a year ago. Net loss for the year was DKK 61,829,000 or DKK 0.04 per basic and diluted share against DKK 49,177,000 or DKK 0.03 per basic and diluted share a year ago. Cash outflow from operating activities was DKK 50,629,000 against DKK 42,139,000 a year ago.

For the year, the company reported revenue of DKK 14,150,000 against DKK 123,395,000 a year ago. Operating loss was DKK 197,100,000 against DKK 58,604,000 a year ago. Loss before tax was DKK 182,514,000 against DKK 37,701,000 a year ago. Net loss for the year was DKK 176,106,000 or DKK 0.11 per basic and diluted share against DKK 36,319,000 or DKK 0.02 per basic and diluted share a year ago. Cash outflow from operating activities was DKK 177,348,000 against DKK 77,243,000 a year ago.

The company expects an operating loss in 2016 of DKK 120 to 160 million compared to the realized operating loss of DKK 197 million in 2015. The net loss in 2016 is expected to be in the range of DKK 120 to 160 million compared to the net loss of DKK 176 million in 2015.