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Novelion posts $21.4 million quarterly loss

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Novelion Therapeutics reported a GAAP net loss of $21.4 million in the second quarter of 2017 compared with a GAAP net loss of $5.1 million in the second quarter of 2016, according to a press release.

Research and development costs were $10.8 million in 2017’s second quarter compared with $2.9 million in 2016, while total operating expenses increased from $7.4 million in the second quarter of 2016 to $38.4 million in the same period of 2017.

Net revenues for the quarter totaled $40.9 million compared with $0 in 2016.

The company had a consolidated unrestricted cash balance totaling $83.3 million as of June 30.