Norway-based Nordic Nanovector ASA (OSE: NANO) has reported its financial results for the first quarter of 2020, it was reported on Tuesday.

Revenues for the first quarter amounted to NOK0.0m, the same as for the year-ago period.

The company reported total operating expenses for the first quarter of 2020 at NOK125.9m compared to NOK90m in the same period in 2019.

The firm posted comprehensive loss for the first quarter of 2020 at NOK91.7m compared to the loss of NOK91.6m in the year-ago period.

Lars Nieba, Nordic Nanovector interim CEO, said: 'Despite a number of significant challenges, the new senior management team together with the Board and all our employees have moved decisively to conduct a thorough strategic review and to implement an action plan based on its conclusions. With a clear focus on PARADIGME and a cash runway into 2021, I believe we are well placed to demonstrate and deliver the value of Betalutin to patients and to our shareholders.'

(EUR1-NOK10.9)