Veloxis Pharmaceuticals A/S reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported net revenue of USD 5,924,000 compared to USD 2,239,000 in the same period of 2016. Operating loss was USD 4,174,000 compared to USD 7,290,000 in the same period of 2016. Loss before tax was USD 4,792,000 compared to USD 7,554,000 in the same period of 2016. Net loss for the period was USD 4,174,000 compared to USD 7,554,000 in the same period of 2016. Cash flow used in operating activities was USD 3,567,000 compared to USD 7,057,000 in the same period of 2016. Purchase of property, plant and equipment was USD 402,000 compared to USD 44,000 in the same period of 2016.

For the nine months, the company reported net revenue of USD 22,092,000 compared to USD 5,506,000 in the same period of 2016. Operating loss was USD 6,674,000 compared to USD 23,814,000 in the same period of 2016. Loss before tax was USD 8,116,000 compared to USD 23,961,000 in the same period of 2016. Net loss for the period was USD 8,421,000 compared to USD 23,961,000 in the same period of 2016. Cash flow used in operating activities was USD 6,386,000 compared to USD 26,595,000 in the same period of 2016. Purchase of property, plant and equipment was USD 564,000 compared to USD 125,000 in the same period of 2016.

Veloxis maintains its 2017 outlook of operating loss before the recognition of income from license agreements and before accounting for stock compensation in the range of USD 10 -­ 15 million.