Idorsia effectively started its operations after demerging from Actelion on June 15, 2017, and registered shares of Idorsia Ltd were listed on the SIX Swiss Exchange the next day. Today, Idorsia has an experienced team of highly qualified professionals, a full R&D pipeline with 3 Phase 3 programs enrolling the first patients and 1 on-track to commence enrollment later in 2018, state of-the-art facilities, and excellent liquidity – the ideal constellation for bringing successful medicines to the market.

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)








Operating expenses





Operating income (loss)





Net income (loss)





Basic EPS





Basic number of shares (weighted average)





Diluted EPS

(1.34) (1.17) (0.68)


Diluted number of shares (weighted average)

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

Financial charts as of June 30, 2018