Idorsia releases first quarter 2023 financials

25 April 2023
idorsia_large-1-

Idorsia’s (SIX: IDIA) shares were down more than 9% at 8.76 Swiss francs by early afternoon, as the Switzerland-based biotech announced its financial results for the first quarter of 2023.

Net revenue for the quarter came in at 21 million francs ($23.6 million), a more than four-fold increase on the 5 million francs posted in the like 2022 period.

US generally accepted accounting principles (GAAP) net loss in the first quarter of 2023 amounted to 212 million francs (198 million francs in the first quarter of 2022). The increase of the net loss was mainly driven by higher operating expenses, largely in the commercial functions, a negative financial result and partially offset by higher net revenues.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Biotechnology