Friday, May 04, 2018 8:17:00 AM
“Since our recent end-of-review meeting on the NDA for Vitaros with the FDA, we have been focused on pursuing U.S. Vitaros partnership discussions with interested parties. Our objective is to enable continued development and potential approval of the Vitaros product and receive financial terms commensurate with this development stage asset in exchange for a sublicense or assignment of our U.S. development and/or commercialization rights. In parallel, the Company is evaluating strategic alternatives, which may include a sale of the company, a business combination, a merger or reverse merger or a license, and in order to maximize shareholder value, the Company has engaged Canaccord Genuity LLC to assist in that process,” said Richard Pascoe, Chief Executive Officer.
First Quarter Financial Results
Net loss during the quarter ended March 31, 2018 was $2.3 million, or loss per share of $0.14, compared to net income of $8.1 million, or earnings per share of $1.04, during the first quarter of 2017. Net income during the quarter ended March 31, 2017 was primarily due to the $11.8 million gain recorded upon 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 March 31, 2018, the Company’s cash totaled $5.7 million, compared to $6.3 million as of December 31, 2016, which is expected to fund operations through the end of 2018. The Company’s cash balance as of March 31, 2018 does not include net proceeds of approximately $2.9 million from the Company’s public equity offering, which closed on April 2, 2018.
Recent SEEL News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/03/2024 01:00:17 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/26/2024 04:15:16 AM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 08/20/2024 08:01:49 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 08/16/2024 08:02:17 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 08:05:46 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 08/09/2024 08:02:49 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:06:19 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/26/2024 08:01:17 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/16/2024 08:05:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/12/2024 01:15:52 PM
- Form S-1 - General form for registration of securities under the Securities Act of 1933 • Edgar (US Regulatory) • 06/14/2024 08:06:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/05/2024 08:05:35 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/21/2024 08:01:36 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 05/20/2024 08:16:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/16/2024 01:00:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 03:45:26 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/14/2024 12:00:41 PM
- Form S-1/A - General form for registration of securities under the Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 03/06/2024 10:32:04 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 03/06/2024 09:50:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 10:39:18 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/06/2024 10:26:45 PM
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