Prometic Life Sciences Releases Financials for Q1 2017

Prometic Life Sciences (TSX:PLI, OTCQX:PFSCF) shared their unaudited financial results for the first quarter of 2017.
As quoted in the press release:

“This quarter’s financial results are in line with the Q4 results recently disclosed, including with respect to revenues, as well as a slight drop in R&D expense and EBITDA loss”, stated Greg Weaver, Chief Financial Officer of Prometic. “Our financial position has improved with recent transactions totaling $69.3 million of new cash inflows received or to be received in 2017. Our priorities for the rest of 2017 remain to strengthen our balance sheet, finalize the internal systems to support our first commercial drug launch and generate operational efficiencies as we stay on track to achieve our financial goals”.
Pierre Laurin, Prometic’s President and Chief Executive Officer, said: “Prometic anticipates additional cash inflows to be generated in 2017 and is now well positioned, following the positive clinical data generated so far, to continue advancing its lead clinical programs and to pursue related licensing and strategic partnership opportunities”.

Click here to read the full press release.

Source: www.newswire.ca