Nightstar Therapeutics Reports Second Quarter 2018 Financial Results and Business Highlights

Nightstar Therapeutics (NASDAQ:NITE), a clinical-stage gene therapy company developing treatments for rare inherited retinal diseases, reported financial results for the quarter ended June 30, 2018 and provided an update on recent achievements and upcoming clinical milestones.

As quoted in the press release:

General and administrative expenses were $3.3 million for the three months ended June 30, 2018, compared to $0.7 million for the three months ended June 30, 2017. The increase of $2.6 million is mainly due to a $2.0 million increase in personnel-related costs and a $0.6 million increase in consulting and professional fees, including increased legal, accounting and audit fees. General and administrative personnel-related costs increased due to an increase in headcount to support our increased research and development activities, growth of our company and our status as a public company. The increase in general and administrative personnel-related costs includes $0.6 million of additional non-cash share-based compensation compared to the same period in 2017.

Net loss for the three-month period ended June 30, 2018 was $8.1 million, or $0.29 basic and diluted net loss per ordinary share, as compared to $4.2 million, or $0.18 basic and diluted net loss per ordinary share for the three-month period ended June 30, 2017.

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