Business & Finance
Aridis Pharmaceuticals reports year end financial results
9 April 2020 -

Aridis Pharmaceuticals Inc (Nasdaq: ARDS), a biopharmaceutical company, announced on Wednesday its financial results for the year ended 31 December 2019.

The company reported a decrease in grant revenues of around USD567,000 from USD1.6m for the year ended 31 December 2018, to USD1m for the year ended 31 December 2019.

The firm posted an increase in research and development expenses of around USD1.1m from USD23m for the year ended 31 December 2018 to USD24.1m for the year ended 31 December 2019.

The net loss available to common stockholders for the year ended 31 December 2019 was USD29.7m, or USD3.51 per share, compared to a net loss available to common stockholders of USD23.5m, or USD7.45 per share, for the year ended 31 December 2018.

'The fourth quarter was an excellent period of clinical and corporate development progress,' commented Vu Truong, PhD, chief executive officer of Aridis Pharmaceuticals. 'As we head into 2020, we will closely monitor the on-going COVID-19 pandemic and assess its impact on our business, including the impact on enrolment for the AR-301 Phase 3 and AR-501 clinical studies. COVID-19 also presents a rare opportunity to utilise the Company's APEX platform technology to develop differentiated, effective therapeutic solutions to fight this deadly pandemic. I am pleased to announce that our team of scientists are hard at work on this important task, and look forward to announcing the preliminary results in the coming months.'

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