The Conversation (0)
Trillium Therapeutics released its financial report for the third quarter of 2017.
Trillium Therapeutics (NASDAQ:TRIL; TSX:TRIL) released its financial report for the third quarter of 2017.
As quoted in the press release:
“Our strategy of running intravenous and intratumoral signal-seeking Phase 1 trials of TTI- 621 in multiple indications gives us the best opportunity to identify malignancies where we can further focus our clinical efforts,” said Dr. Niclas Stiernholm, Trillium’s Chief Executive Officer. “We are on track to provide additional clinical updates by year end.”
Third Quarter 2017 Financial Results
As of September 30, 2017, Trillium had cash and marketable securities of $64.3 million compared to $50.5 million at December 31, 2016. The increase in cash and marketable securities was due mainly to receiving net proceeds of $39.0 million from the June 2017 financing, partially offset by cash used in operations of $20.4 million and an unrealized foreign exchange loss of $4.5 million.
Net loss for the nine months ended September 30, 2017 of $34.4 million was higher than the loss of $22.7 million for the nine months ended September 30, 2016. The net loss was higher due mainly to higher research and development expenses of $6.8 million with two active Phase 1 trials for TTI-621 and manufacturing expenses for TTI-622 in 2017, the recognition of a deferred tax recovery in the nine months ended September 30, 2016 related to the acquisition of Fluorinov of $3.7 million, and a higher net foreign currency loss of $1.8 million.
Click here to read the full press release.
Source: www.marketwired.com