Kindred Biosciences Inc (NASDAQ: KIN), a United States-based biopharmaceutical company, reported on Wednesday its financial results for the six months ended 30 June 2020.

The company reported net income of USD1.3m or USD0.03 per share (diluted) in the six months ended 30 June 2020 compared to a net loss of USD30.4m, or USD0.79 per share, in the year-ago period.

The firm posted net revenues of USD40.2m in the six months ended 30 June 2020 compared to USD1.8m in the year-ago period.

'We are pleased with the progress on our pipeline of late-stage biologics,' said KindredBio's chief executive officer, Richard Chin, MD. 'The commencement of the first parvovirus pivotal study is a key milestone for this program, and we look forward to the upcoming initiation of the tirnovetmab (IL-31 antibody) pivotal study.'