Immunotherapy development company Stellar Biotechnologies Inc (Nasdaq:SBOT) stated on Friday its net loss of USD5.03m (USD0.49 per basic share) for the fiscal year ended 30 September 2017.

This is compared with an unchanged net loss of USD5.03m and USD0.57 per basic share for fiscal year 2016, respectively.

Total revenues of USD0.23m were generated for fiscal year 2017, down over total revenues of USD1.27m for the prior year.

The company said the change was primarily due to a decrease in product sales volume. While the customer base has not changed significantly, product sales volumes are subject to variability associated with the rate of development and progression of clinical studies of third-party products that utilize Stellar KLH.

Research and development expenses of USD1.97m was recorded for fiscal year 2017, a rise of USD0.24m over R&D of USD1.73m for the prior year, which was primarily due to research and development activities intended to increase the scalability and throughput capacity of existing manufacturing systems, improvements in analytical, manufacturing and purification processes as well as stability studies and formulation development.