Veloxis Pharmaceuticals A/S (CPH:VELO), a commercial-stage, specialty pharmaceutical company committed to improving the lives of transplant patients, on Tuesday reported net income of USD7.7m for the first nine months of 2019.

This was an improvement over a net loss of USD4.1m in the corresponding nine months of 2018.

Product revenues for the first nine months of 2019 were USD54.5m, up by 97% as compared with the corresponding nine months of the year before.

US revenues for the period increased by 98% to USD 47.3m, while EU revenues increased by 80% to USD7.0m, as compared to the corresponding periods of 2018, respectively.

Also, over 96% of US transplant centers have used Envarsus since its launch.

In addition, on 31 October 2019, Veloxis revised its 2019 outlook of revenues to be in the range of USD75m to USD82m and operating income, before accounting for stock compensation, to be in the range of USD15m to USD22m.

This compares with the prior outlook of revenues to be USD69m to USD77m and operating income, before accounting for stock compensation, to be in the range of USD10m to USD15m.