May 23, 2017 / 5:16 AM / 2 months ago

BRIEF-Photocure Q1 operating loss widens to NOK 10.4 mln

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May 23 (Reuters) - PHOTOCURE ASA:

* REPORTED A HEXVIX/CYSVIEW REVENUE GROWTH OF 9% TO NOK 36.5 MILLION IN Q1 OF 2017 (Q1 2016: NOK 33.5)

* TOTAL GROUP REVENUES OF NOK 36.5 MILLION IN Q1 OF 2017 (34.9)

* PLANS TO DOUBLE ITS SALESFORCE AND INCREASE SALES AND MARKETING EXPENSES TOWARDS END OF 2017

* GOAL OF THESE EFFORTS IS TO QUADRUPLE REVENUES FROM US OPERATIONS BY 2020

* Q1 OPERATING LOSS NOK 10.4 MILLION VERSUS LOSS NOK 4.9 MILLION YEAR AGO

* AS A RESULT OF THE INCREASED ACTIVITY LEVEL, THE ADDED OPERATING EXPENSES WILL CONTRIBUTE TO AN EBITDA DECLINE FOR THE GROUP IN 2017 AND 2018

* PLANS TO SUBMIT AN SNDA TO THE US FDA, WITH A POSSIBLE APPROVAL IN 2018, FOR USE OF BLUE LIGHT FLEXIBLE CYSTOSCOPY WITH CYSVIEW IN THIS OUT-PATIENT SURVEILLANCE SETTING Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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