Kitov Pharma Reports Year End 2018 Financial Results and Provides Business Update
KITOV PHARAMCEUTICALS HOLDINGS LTD AMERICAN DEPOS (KTOV)
US:NASDAQ Investor Relations:
kitovpharma.com
Company Research
Source: GlobeNewswire
TEL AVIV, Israel, Feb. 07, 2019 (GLOBE NEWSWIRE) -- Kitov Pharma (NASDAQ/TASE: KTOV), an innovative pharmaceutical company, today reported its unaudited financial results for the year ended December 31, 2018 and provided a business update. Highlights & Achievements in 2018 and to Date: - Approximately $13 million cash on hand at the beginning of 2019 based on a reported cash balance of $6.7 million on December 31, 2018, plus net $5.5 million raise through financing in January, and a $1 million milestone payment from Kitov’s U.S. distributor for Consensi™. - $4.2 million decrease in loss from operations to $7.8 million in 2018 from $12.0 million in 2017 and a $7.3 million decrease in net loss to $5.6 million in 2018 from $12.9 million in 2017. - 72% decrease in loss per diluted share to $0.39 in 2018 from $1.38 in 2017. - R&D expenses in 2018 were approximately $5.3 million compared to $4.6 million in 2017. - Consensi™ was approved by the U.S. FDA in June 2018 and i
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