Financial overview
All our activities have one common goal: finding the best solution.
André C. Muller, CFO
For the first half 2018, US GAAP operating loss amounted to CHF 155 million and non-GAAP* operating loss amounted to CHF 139 million. US GAAP operating loss was based on revenues of CHF 13 million, non-GAAP R&D expenses of CHF 127 million, non-GAAP G&A expenses of CHF 25 million, depreciation and amortization of CHF 9 million, and share-based compensation of CHF 7 million.
The US GAAP net loss amounted to CHF 159 million resulting in a net loss per share of CHF 1.34.
At the end of the first half of 2018, Idorsia’s liquidity (including cash, cash equivalents, short- and long-term deposits) amounted to CHF 949 million.
|
Idorsia's key numbers |
First half 2018 | Second Quarter 2018 | ||
|
(in CHF millions, except EPS) |
US GAAP | Non-GAAP | US GAAP |
Non-GAAP |
|
Revenues |
13 |
13 |
7 |
7 |
|
Operating expenses |
(168) |
(153) |
(87) |
(79) |
|
Operating income (loss) |
(155) |
(139) |
(81) |
(73) |
|
Net income (loss) |
(159) |
(139) |
(80) |
(71) |
|
Basic EPS |
(1.34) |
(1.17) |
(0.68) |
(0.59) |
|
Basic number of shares (weighted average) |
119.1 |
119.1 |
119.1 |
119.1 |
|
Diluted EPS |
(1.34) | (1.17) | (0.68) |
(0.59) |
|
Diluted number of shares (weighted average) |
119.1 | 119.1 | 119.1 |
119.1 |
* Idorsia measures, reports and issues guidance on non-GAAP operating performance. Idorsia believes that these non-GAAP financial measurements more accurately reflect the underlying business performance and therefore provide useful supplementary information to investors. These non-GAAP measures are reported in addition to, not as a substitute for, US GAAP financial performance.
Financial Guidance
“Our financial guidance for 2018 remains unchanged, unforeseen events and potential milestone expenses excluded, we expect non-GAAP operating expenses for 2018 to be around 390 million Swiss francs. With this level of investment and the new cash raised, we are confident that we can develop our late-stage pipeline through to completion, so that we know the true potential of our assets and make strategic decisions on how to commercialize them.”
André Muller
Chief Financial Officer
Latest Financial Webcast
Financial charts for the first half 2018 are presented in the latest financial webcast.
