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Aduro Biotech Announces Fourth Quarter and Full Year 2017 Financial Results
Mar. 02, 2018 08:58AM PST
Biotech InvestingAduro Biotech (NASDAQ:ADRO) reported financial results for the year ended December 31, 2017. Net loss for the fourth quarter and year ended December 31, 2017 was $26.1 million, or $0.34 per share, and $91.9 million, or $1.26 per share, respectively. This compared to net loss of $29.6 million, or $0.44 per share, and $91.1 million, or …
Aduro Biotech (NASDAQ:ADRO) reported financial results for the year ended December 31, 2017. Net loss for the fourth quarter and year ended December 31, 2017 was $26.1 million, or $0.34 per share, and $91.9 million, or $1.26 per share, respectively. This compared to net loss of $29.6 million, or $0.44 per share, and $91.1 million, or $1.40 per share, respectively, for the same periods in 2016.
As quoted in the press release:
“In 2017, we expanded clinical development activities of our STING agonist program with the initiation of a global combination trial of ADU-S100 with Novartis’ proprietary anti-PD-1 checkpoint inhibitor, PDR001. We also initiated clinical development of BION-1301, a novel anti-APRIL antibody, in multiple myeloma,” said Stephen T. Isaacs, chairman, president and chief executive officer of Aduro. “We believe we are well-positioned with the support of our collaboration partners and strong cash position to further advance our clinical programs, particularly in the activation of the STING pathway.”