Exalenz Bioscience Ltd. reported earnings results for the fourth quarter and full year ended December 31, 2017. Revenue for the fourth quarter of 2017 increased 161% to $3 million compared to the fourth quarter of 2016. The increase in revenue was primarily driven by penetration of the lab market in the U.S. as well as the company's supply agreement with LabCorp.

Revenue for the full year 2017 increased 127% to $9.5 million compared to the full year 2016. Operating loss was $5.0 million in the full year 2017, compared to an operating loss of $6.2 million in 2016. The EBITDA-adjusted operating loss (eliminating accounting effects and non-recurring expenses related to a PDUFA fee refund) amounted to $3.9 million for the full year 2017, compared to $5.4 million in the prior year. Net loss amounted to $5.4 million in the full year 2017, compared to a net loss of $6.3 million in the full year 2016. The progress in 2017, which included a significant increase in sales for the company's laboratory system in the United States and achieving numerous important milestones related to the development of the company's technology in liver indications, a market with significant unmet need.

The company expects to double its sales in 2018 to $17 million - $19 million. In addition, the company anticipates a positive quarterly cash flow from operating activities in 2018.

The company forecasts revenue of $28 million - $32 million in 2019.