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Spark Therapeutics posts quarterly loss
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Spark Therapeutics reported a net loss of $46.4 million, or $1.25 per share, in the first quarter of 2018 compared with a net loss of $52.3 million, or $1.70 per share, in 2017’s first quarter, according to a press release.
Total revenue was $15.7 million in the quarter, with $2.4 million from net sales of Luxturna (voretigene neparvovec-rzyl) and $13.3 million associated with collaboration and supply agreements with Pfizer. Revenue was $1.3 million in the first quarter of 2017, all from the Pfizer agreement.
General and administrative expenses were $33.5 million compared with $21.4 million last year, which the company attributed to an increase in salaries and related costs to support the launch of Luxturna.
Research and development costs decreased from $32.7 million in 2017’s first quarter to $30.1 million this year.