Trovagene Announces Fourth Quarter and Full-Year 2017 Results

• Trovagene reported a net loss of $2.6 million, or $0.06 per diluted share in the fourth quarter of 2017, as compared to a net loss of $8.5 million, or $0.34 per diluted share, for the same quarter of 2016. 
• Total operating expenses were approximately $4.0 million for the three months ended December 31, 2017, a reduction of $5.9 million from $9.9 million for the same period in 2016.
• Net cash used in operating activities in the fourth quarter of 2017 was $3.3 million, compared to $9.0 million in the fourth quarter of 2016.  The quarter-over-quarter reduction can be attributed primarily to a decrease in selling and marketing expenses as a result of reduction in force and a decrease in research and development costs due to a shift in focus of the Company.
• Net cash provided by financing activities in the fourth quarter of 2017 was $4.1 million as compared to $0.1 million used in financing activities in the same period of 2016.  The increase is primarily due to the sale of securities during December fundraising activity.
• The weighted average diluted shares of common stock outstanding used to calculate per share results was 40.2 million.
• As of December 31, 2017, Trovagene had approximately $8.2 million of cash and cash equivalents.  As of February 20, 2018, the Company has received approximately $0.5 million of additional cash to the year end $8.2 million upon exercise of 1,814,167 warrants in connection with the December 2017 public offering.

Year-End 2017 Financial Results

• Trovagene reported a net loss of $24.9 million, or $0.72 per diluted share, as compared to a net loss of $39.2 million, or $1.37 per diluted share, for the year ended December 31, 2016. The decrease in net loss is primarily due to decreased expenses related to sales and marketing, general and administrative and research and development versus the prior year.
• The net cash used in operating activities in 2017 was $23.3 million, compared to $31.0 million in 2016.

About Trovagene, Inc.

Trovagene is a precision medicine biotechnology company developing oncology therapeutics for improved cancer care by leveraging its proprietary Precision Cancer Monitoring® (PCM) technology in tumor genomics.  Trovagene has broad intellectual property and proprietary technology to measure circulating tumor DNA (ctDNA) in urine and blood to identify and quantify clinically actionable markers for predicting response to cancer therapies.  Trovagene offers its PCM technology at its CLIA/CAP – accredited laboratory and plans to continue to vertically integrate its PCM technology with precision cancer therapeutics.  For more information, please visit https://www.trovagene.com.

Forward-Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of words such as "anticipate," "believe," "forecast," "estimated" and "intend" or other similar terms or expressions that concern Trovagene's expectations, strategy, plans or intentions. These forward-looking statements are based on Trovagene's current expectations and actual results could differ materially.  There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements.  These factors include, but are not limited to, our need for additional financing; our ability to continue as a going concern; clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results; our clinical trials may be suspended or discontinued due to unexpected side effects or other safety risks that could preclude approval of our product candidates; uncertainties of government or third party payer reimbursement; dependence on key personnel; limited experience in marketing and sales; substantial competition; uncertainties of patent protection and litigation; dependence upon third parties; our ability to develop tests, kits and systems and the success of those products; regulatory, financial and business risks related to our international expansion and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations.  There are no guarantees that any of our technology or products will be utilized or prove to be commercially successful, or that Trovagene's strategy to design its liquid biopsy tests to report on clinically actionable cancer genes will ultimately be successful or result in better reimbursement outcomes.  Additionally, there are no guarantees that future clinical trials will be completed or successful or that any precision medicine therapeutics will receive regulatory approval for any indication or prove to be commercially successful.  Investors should read the risk factors set forth in Trovagene's Form 10-K for the year ended December 31, 2017, and other periodic reports filed with the Securities and Exchange Commission.  While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties.  Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.  Forward-looking statements included herein are made as of the date hereof, and Trovagene does not undertake any obligation to update publicly such statements to reflect subsequent events or circumstances.

Trovagene Contact:

Trovagene, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except for per share amounts)
		Three Months Ended December 31,														Year Ended December 31,
		2017						2016								2017					2016
Revenues:
Royalties		$		116				$		50						$	286				$			258
Diagnostic services				54						17							196				86
Clinical research services				15						1							23				37
Total revenues				185						68							505				381
Costs and expenses:
Cost of revenues		383						587								1,811					1,730
Research and development		1,207						3,785								7,883					15,007
Selling and marketing		292						2,396								2,735					11,523
General and administrative		1,582						2,292								11,497					11,476
Restructuring charges		505)						790								2,175					790
Total operating expenses		3,969						9,850								26,101					40,526
Loss from operations		(3,784)						(9,782)								(25,596)					(40,145)
Net interest expense		(9)						(408)								(886)					(1,376)
Gain on change in fair value of derivative financial instruments - warrants		1,388						1,787 Werbung Mehr Nachrichten zur Cardiff Oncology Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 19.04.24 - PR Newswire Fidelity China Special Situations Plc - Transaction in Own Shares 19.04.24 - PR Newswire Fidelity Emerging Markets Ltd - Transaction in Own Shares 19.04.24 - PR Newswire BH Macro Limited - Transparency Reporting Auf zur INVEST am 26.+ 27.04.2024    Foto: Landesmesse Stuttgart GmbH - Jetzt kostenloses Ticket sichern! weiterlesen» Anzeige wo-site-teaser-box-16688_site-teaser-box_2024-04-17_09%253A00%253A00_2024-04-22_09%253A00%253A59