Seelos Therapeutics Inc (SEEL)

[mecosmo2]

hird Quarter and Year-to-Date Financial Results

Net loss for the quarter ended September 30, 2017 was $3.8 million , or loss per share of $0.29 , compared to a net loss of $1.3 million , or loss per share of $0.19 , for the third quarter of 2016 . Net loss during the third quarter of 2017 was primarily due to the $1.5 million regulatory milestone payment made to Allergan upon the FDA’s acknowledgment of our Vitaros NDA resubmission, Vitaros commercial preparation activities, as well as other general and administrative expenses.

Net income for the nine months ended September 30, 2017 was $2.8 million , or income per share of $0.26 , compared to a net loss of $7.1 million , or loss per share of $1.17 , for the third quarter of 2016 . Net income during the nine months ended September 30, 2017 was primarily due to the $12.3 million gain recorded for the sale of our ex-U.S. Vitaros rights and assets to Ferring.

For all periods presented, financial statement activity related to our ex-U.S. Vitaros business has been presented as discontinued operations. As of September 30, 2017 , the Company’s cash totaled $8.5 million, compared to $2.1 million as of December 31, 2016.