Cardiome Pharma Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Revenue Guidance for the Full Year of 2017
Cardiome Pharma Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported, total revenue of $5,199,000, operating loss of $5,492,000, loss before income taxes of $6,290,000, net loss of $6,333,000, net cash used in operating activities of $6,844,000, purchase of intangible assets of $12,000, compared to total revenue of $7,090,000, operating loss of $1,131,000, loss before income taxes of $1,189,000, net loss of $1,234,000, net cash used in operating activities of $5,216,000, purchase of intangible assets of $15,000, for the same period a year ago.
The company to meet its annual 2017 revenue target of approximately $28 to $30 million. The company believes that 2017 will be a pivotal year.