Biopharmaceutical company ThromboGenics reported it generated income of €9.1 million in 2017 compared to €7.1 million in 2016 and had advanced its pipeline of novel drug candidates for the treatment of diabetic eye disease.
R&D expenses for the year was stable at €23.2 million, versus €24.7 million in 2016, with expenditure on activities and resources towards drug development.
Other income of €53.7 million cash was obtained from Alcon and Novartis resulting in a net profit of €22.6 million, versus a loss of -€60.3 million in 2016, or earnings per share of €0.62 versus -€1.67 in 2016.
Cash at year end was €115.7 million compared to €80.1 million at the start of the year.
Patrik De Haes, CEO, said "We are pleased with our progress in 2017 and expect to build further momentum during 2018. With an expected 3 clinical studies activated ahead of the summer, we are rapidly executing our 'multiple shots on goal' diabetic eye disease development strategy. Our strong cash position provides us with the means to achieve several value generating milestones from our pipeline of novel drug candidates over the next 12 months."