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Spark posts year-end financial results

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Spark Therapeutics reported a net loss of $78.8 million, or $2.11 per share, in 2018 compared with a net loss of $253.5 million, or $7.63 per share, in the previous year.

Revenue was up from $12.1 million in 2017 to $64.7 million in 2018, which included nearly $27 million in Luxturna (voretigene neparvovec-rzyl) product sales and $37.8 million in contract revenue associated with the company’s agreements with Pfizer and Novartis, according to a press release.

Research and development costs decreased from $135.2 million in 2017 to $125.3 million in 2018, while selling, general and administrative expenses rose from $111.1 million to $124.9 million for the year.

Spark had cash, cash equivalents, restricted cash and marketable securities totaling $601.3 million as of Dec. 31, 2018.