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BRIEF-Cassiopea FY operating losses widen to EUR 10.5 mln
February 24, 2017 / 6:13 AM / 9 months ago

BRIEF-Cassiopea FY operating losses widen to EUR 10.5 mln

Feb 24 (Reuters) - Cassiopea SpA:

* There were no operating revenues because all products are still in development and none were licensed out

* FY research and development expenses increased by 88.4 pct to 14.3 million euros ($15.13 million); main costs were costs of two phase III pivotal clinical trials of Winlevi(R) for acne

* FY net financial income of 957,000 euros resulted from foreign exchange gains

* FY operating losses increased by 25.1 pct to 10.5 million euros Source text for Eikon: Further company coverage: ($1 = 0.9453 euros) (Gdynia Newsroom)

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