Business & Finance
Aradigm's net loss narrows to USD3.6m in Q3 2018
16 November 2018 -

Pharmaceutical company Aradigm Corporation (NASDAQ:ARDM) revealed on Thursday its net loss of USD3.6m (USD0.24 per share) for the third quarter ended 30 September 2018.

This is a decrease in net loss by USD0.3m when compared with a net loss of USD3.9m (USD0.26 per share) in the third quarter of 2017, primarily from a decrease in operating expenses, offset by a decrease in revenue and an increase in other interest expense.

Revenues of USD282,000 were generated in the third quarter of 2018, down over revenues of USD2.7m in revenue in the third quarter of 2017.

Research and development of USD1.54m and USD3.54m were recorded for the third quarter ended 30 September 2018 and 2017, respectively.

The company said the decrease in research and development expenses of USD2.0m in the Q3 2018 was due to a lower regulatory spend in support of Linhaliq during the ongoing EMA review process of the validated MAA submission, its ongoing interaction with the US FDA to address the issues raised in the complete response letter as well as due to lower employee related expenses from a reduction in headcount.