Valeritas Holdings, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenue, net was $6,081,000 against $4,611,000 a year ago. Operating loss was $10,632,000 against $10,302,000 a year ago. Loss before income taxes was $11,574,000 against $11,806,000 a year ago. Net loss was $11,574,000 against $11,806,000 a year ago. Net loss attributable to common stockholders was $12,124,000 against $11,854,000 a year ago. Net loss per share of common shares outstanding - basic and diluted was $1.72 against $6.92 a year ago.

The company expects total 2018 revenue to be between $26 million and $28 million. The Company also expects quarterly gross margin to increase on an annual and sequential basis in 2018, ending the year with a gross margin above 50% for the fourth quarter of 2018. This improvement in margin is primarily due to the expected increase in unit sales of V-Go in 2018 vs. 2017, as well as a slight increase in the Company's net selling price of V-Go for the full year. As part of public offering, the company also provided additional guidance with respect to gross margins, whereby at the time the company reach cash flow or breakeven, The company expects 70% gross margins, and at scale, the company expects gross margins to be 80%.