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ThromboGenics reports €12.2 million loss between second, third quarters

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ThromboGenics reported cash and investments totaling €136.6 million at the end of the third quarter, down from €148.8 million at the end of the second quarter.

However, according to a press release, the company is optimistic that cash flow and revenues will reach targets in the near term.

“ThromboGenics remains on track to achieve its target of profitability in the U.S. by 2016, based on Jetrea sales of around €30 million,” the release said. “The company is also targeting to become cash flow positive by 2017 and to achieve total revenues of €100 million by 2019.”

According to the release, the company is devoting significant resources to the development and marketing of ocriplasmin.

“ThromboGenics believes that it has the financial resources it needs to fully sustain the U.S. commercialization of Jetrea, to research and develop new indications and formulations of Jetrea for the U.S. market, and to expand its R&D pipeline and further broaden its commitment to become a leading ophthalmology company,” the release said.