Spark Therapeutics posts first-quarter net loss of $52.3 million
Spark Therapeutics reported a net loss of $52.3 million, or $1.70 per share, in the first quarter of 2017 compared with a net loss of $25.6 million, or $0.95 per share, in the first quarter of 2016.
Research and development costs increased from $18.2 million in 2016’s first quarter to $32.7 million this year, which was attributed to an increase in personnel and expenses related to studies to support launch preparation activities for voretigene neparvovec, according to a company press release.
General and administrative expenses for the quarter were $21.4 million compared with $8.9 million in 2016.
The company reported $285.4 million in cash, cash equivalents and marketable securities as of March 31.