Reports

Stephan Emmerth

Stephan Emmerth

PhD | Director Therapeutic Innovation and BaseLaunch


Tel. +41 61 295 50 17

stephan.notexisting@nodomain.comemmerth@baselarea.notexisting@nodomain.comswiss
report Life Sciences

16.11.2017

Myovant Sciences increases research expenses

The Basel-based pharmaceutical company Myovant Sciences reduced its net loss in the second quarter by just under five million dollars compared to the previous year. It significantly increased its research and development expenses.

Myovant Sciences invested 24.2 million dollars in research and development between July and September 2017, announced a statement. In the same period last year, it invested 3.8 million dollars. The majority of these additional research expenses were invested in the development program for Relugolix.

The subsidiary of Roivant Sciences, which received support from BaselArea.swiss when relocating to Basel, recently published positive results from Phase 3 clinical studies of Relugolix.

The drug performed well for the treatment of pain and bleeding caused by uterine fibroids. In women it lowers oestrogen and progesterone levels, and in men, testosterone levels.

Myovant Sciences reported a loss of 29.9 million dollars in the second quarter, compared to 34.7 million dollars in the same period last year. On September 30, cash reserves amounted to 129.3 million dollars, compared to 180.8 million dollars in the same period in 2016.

In October, Myovant Sciences secured more than 140 million dollars from investors in a financing round. 

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