SINGAPORE (May 9): Specialty pharmaceutical company iX Biopharma recorded a net loss of $4.3 million in 3Q18, against a net loss of $2.9 million in 3Q17.
This was mainly due to higher unrealised foreign exchange translation losses of $0.52 million from weaker US and Australian dollars, higher cost of sales of $0.35 million and expenses linked to product launching of $0.24 million.
Revenue recorded during the quarter was $1.45 million in 3Q18, compared to $1.49 million in 3Q17. This was mainly contributed by the laboratory testing services offered by the group’s chemical analysis business.
iX Biopharma says it has expanded its KET010 clinical study to include a concurrent study on a separate cohort of 40 patients who have undergone abdominoplasty surgery, to determine the efficacy of Wafermine in a soft tissue post-surgical pain model.
The group has also applied for the registration of PheoniX, a sublingual sildenafil for the treatment of erectile dysfunction, with Australia’s Therapeutic Goods Administration (TGA).
Additionally, XCalibur, an oral sildenafil capsule, has been developed.
Shares in iX Biopharma closed 0.1 cent lower at 16 cents on Wednesday.
