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BioPharmX incus higher net loss of USD5.4m for Q1 fiscal 2018.

M2 EQUITYBITES-June 14, 2017-BioPharmX incus higher net loss of USD5.4m for Q1 fiscal 2018

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Pharmaceutical company BioPharmX Corporation (NYSE MKT:BPMX) disclosed on Tuesday that it recorded a net loss of USD5.4m (USD0.08 per share) for the first quarter ended 30 April 2017.

This represents a decline in earnings when compared with a net loss of USD4.5m (USD0.17 per share) during the prior fiscal year's first quarter.

Revenues, net of USD19,000 were collected for the first quarter of fiscal 2018, down from revenues, net USD33,000 in the prior fiscal year's first quarter.

Total operating expenses of USD5.0m were recorded for the first quarter of fiscal 2018, up over total operating expenses of USD4.5m in the prior fiscal year's first quarter.

The company said the increase resulted primarily from higher spending for the company's acne drug clinical trials, offset by lower spending on advertising and promotions related to the Violet product.

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Publication:M2 EquityBites (EQB)
Article Type:Financial report
Date:Jun 14, 2017
Words:178
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