March 29, 2019 / 6:12 AM / in 22 days

BRIEF-Cosmo Pharmaceuticals FY Oper Loss Widens To EUR 16.6 Mln

March 29 (Reuters) - Cosmo Pharmaceuticals NV:

* FY REVENUE EUR 65.6 MILLION COMPARED TO EUR 67.2 MILLION IN 2017

* FY OPERATING LOSS OF EUR 16.6 MILLION COMPARED WITH AN OPERATING LOSS OF EUR 9.6 MILLION IN 2017

* COSMO PHARMACEUTICALS - LOSS AFTER TAX OF EUR 18.1 MILLION, INCL. FX GAIN OF EUR 5.4 MILLION ON OUR US$ LIQUIDITY POSITION (LOSS AFTER TAX OF EUR 32.5 MILLION IN 2017)

* NET PROCEEDS OF EUR 163.4 MILLION RAISED THROUGH ISSUE OF A CONVERTIBLE BOND

* IN 2019 EXPECTS TO REDUCE OPERATING LOSSES COMPARED TO 2018 TO A LEVEL OF APPROX. EUR 12M

* EXPECTS TO RETURN TO PROFITABILITY IN 2020, DELAY BEING CAUSED BY NON-APPROVAL OF METHYLENE BLUE MMX Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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