Acasti Pharma Inc. announced unaudited consolidated earnings results for the third quarter and nine-months ended November 30, 2014. For the quarter, revenues were $29,000 against $28,000 for the same period a year ago. Adjusted LBITDA was $2,099,000 against $1,574,000 a year ago. The year-over-year decrease in adjusted EBITDA was largely due to an increase in R&D expenses, resulting from higher professional fees and contract expenses related to Acasti's clinical trials. Net earnings were $3,012,000 against net loss of $3,856,000 a year ago, Loss was due to a decrease in the fair value of Acasti's derivative warrant liability arising from its 2013 public offering. Basic and diluted earnings per share were $0.03 against net loss per share of $0.05 a year ago. Book value per Class A share was $0.33 against $0.24 a year ago. Net cash used in operating activities was $2,230,129 against $865,021 a year ago. Acquisition of intangible assets was $19,337 against $51,312 a year ago. The decrease in the cash flows from operating activities is mainly attributable to the higher loss from operating activities after adjustments for non-cash items. Results from operating activities were $2,964,530 against $3,313,908 a year ago

For the nine months, Revenue was $92,000 against $301,000 for the same period a year ago. Adjusted LBITDA was $6,244,000 against $4,607,000 a year ago. Net earnings were $656,000 against net loss of $9,059,000 a year ago. Basic and diluted earnings per share was $0.01 against net loss per share of $0.12 a year ago. Net cash used in operating activities was $4,575,276 against $2,081,207 a year ago. Acquisition of equipment was $34,650. Acquisition of intangible assets was $41,303 against $90,964 a year ago. The decrease in the cash flows from operating activities is mainly attributable to the higher loss from operating activities after adjustments for non-cash items, primarily offset by the changes in non-cash working capital items, primarily by a large decrease in trade and other receivables of $616 and a large increase in payable to parent corporation. Results from operating activities was $2,964,530 against $3,313,908 a year ago. Net cash used in operating activities was $4,575,276 against $2,081,207 a year ago. Acquisition of equipment was $34,650. Acquisition of intangible assets was $41,303 against $90,964 a year ago.