Biopharmx Corp (NYSEMKT:BPMX) Issues Q3 Earnings Report

0
546

Biopharmx Corp (NYSEMKT:BPMX) has recently released its third quarter earnings report.

“During the quarter we reached several important milestones on our journey toward becoming a leading dermatology specialty pharmaceutical company,” boasted Anja Krammer, Biopharmx President.

These milestones include the completion of an in vitro (IV) research, which indicates that BPX-01, a topical minocycline formulation that can potentially treat Propionibacterium acnes, may have a pharmacokinetic advantage over oral minocycline.

Q3 Financial Results

The company had a net revenue of $33,000, up year-over-year from $20,000.

Its total operating expenses had amounted to $4.17 million, up year-over-year from $3.85 million. This includes research and development (R&D) expenses of $2.49 million, up year-over-year from $1.65 million; general and administrative (G&A) expenses of $1.15 million, up year-over-year from $0.93 million; and sales and marketing (S&M) expenses of $0.53 million, down year-over-year from $1.27 million. Consequently, the company’s operating loss had amounted to $4.17 million, up year-over-year from $3.85 million.

Meanwhile, its net loss had amounted to $3.88 million, up year-over-year from $3.85 million. Basic and diluted earnings per share (EPS) had come in at $(0.12), which is comparable to the $(0.18) recorded during the same period in 2015.

Year-to-Date (YTD) Financial Results

YTD, Biopharmx has a net revenue of $85,000, up year-over-year from $29,000.

The company has incurred a total of $13.68 million in operating expenses, up year-over-year from $10.60 million. This includes $7.63 million in R&D expenses, up year-over-year from $3.87 million; $3.52 million in G&A expenses, up year-over-year from $3.07 million; and $2.53 million in S&M expenses, down year-over-year from $3.66 million.

Consequently, the company has an operating loss of $13.66 million, up year-over-year from $10.61 million.

On the other hand, net loss has amounted to $13.37 million, up year-over-year from $11.05 million. This indicates a basic and diluted EPS of $(0.47), which is comparable to the $(0.71) recorded during the same period last year.

Biopharmx has closed at $0.43 on Thursday.

LEAVE A REPLY

Please enter your name here
Please enter your comment!