Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Aralez Pharma shares plummet as losses widen

Monday, March 13, 2017 6:57
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) saw its share price plummet by almost 20% on Monday after it told investors that losses widened significantly in 2016.

For the 12 months to December 31 2016, the specialty pharma posted a net loss of US$103mln, a sharp increase on the US$37.8mln loss it reported a year earlier.

That figure was weighed down by soaring costs, which almost trebled to US$156.9mln in the period (2015: US$58.9mln).

The Canada-based company posted revenue for the year came of US$54.3mln (2015: US$21.4mln).

Aralez does expect things to pick up in 2017 though and said it was forecasting net revenues of between US$80mln and US$100mln, while it expects to report an underlying loss of between US$10mln and US$25mln.

Shares opened 19% down on Monday at US$2.84.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/174701/aralez-pharma-shares-plummet-as-losses-widen-174701.html

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.