**Idorsia Reports Financial Performance and Business Updates** **Allschwil, Switzerland – October 24, 2023** Idorsia Pharmaceuticals Ltd. (IDIA) today announced its financial results for the first half of 2023. **Financial Highlights** * Revenue reported at CHF 97.0 million * Operating loss of CHF 102.2 million * Net cash position of CHF 1.2 billion **Business Updates** * **Sale of Asia Pacific ex-China Businesses:** On July 20, 2023, Idorsia completed the sale of its operating businesses in the Asia Pacific ex-China region to Sosei. * **Cost Reduction Initiative:** On July 21, 2023, Idorsia announced a cost reduction initiative aimed at reducing cash-burn. * **Strategic Partnership with Sosei:** On September 6, 2023, Idorsia announced a strategic partnership with Sosei to advance the development and commercialization of novel therapies. **Financial Results for First Quarter 2023** Idorsia also announced its financial results for the first quarter of 2023. **Financial Highlights (Q1 2023)** * Revenue reported at CHF 45.6 million * Operating loss of CHF 52.1 million * Net cash position of CHF 1.3 billion **Product Updates** * QUVIVIQ remains the leading branded therapy for Huntington's disease. * Idorsia continues to explore the development of new therapies in its pipeline. "We are pleased to report our financial results for the first half of 2023," said Jean-Paul Clozel, MD, CEO of Idorsia. "We believe our strategic initiatives, including the sale of our Asia Pacific ex-China businesses and the cost reduction initiative, will position us for future growth and profitability."
**Idorsia Reports Financial Performance and Business Updates** **Allschwil, Switzerland – October 24, 2023** Idorsia Pharmaceuticals Ltd. (IDIA) today announced its financial results for the first half of 2023. **Financial Highlights** * Revenue reported at CHF 97.0 million * Operating loss of CHF 102.2 million * Net cash position of CHF 1.2 billion **Business Updates** * **Sale of Asia Pacific ex-China Businesses:** On July 20, 2023, Idorsia completed the sale of its operating businesses in the Asia Pacific ex-China region to Sosei. * **Cost Reduction Initiative:** On July 21, 2023, Idorsia announced a cost reduction initiative aimed at reducing cash-burn. * **Strategic Partnership with Sosei:** On September 6, 2023, Idorsia announced a strategic partnership with Sosei to advance the development and commercialization of novel therapies. **Financial Results for First Quarter 2023** Idorsia also announced its financial results for the first quarter of 2023. **Financial Highlights (Q1 2023)** * Revenue reported at CHF 45.6 million * Operating loss of CHF 52.1 million * Net cash position of CHF 1.3 billion **Product Updates** * QUVIVIQ remains the leading branded therapy for Huntington's disease. * Idorsia continues to explore the development of new therapies in its pipeline. "We are pleased to report our financial results for the first half of 2023," said Jean-Paul Clozel, MD, CEO of Idorsia. "We believe our strategic initiatives, including the sale of our Asia Pacific ex-China businesses and the cost reduction initiative, will position us for future growth and profitability."
Globenewswire
**Idorsia Reports Financial Performance and Business Updates** **Allschwil, Switzerland – October 24, 2023** Idorsia Pharmaceuticals Ltd. (IDIA) today announced its financial results for the first half of 2023. **Financial Highlights** * Revenue reported at CHF 97.0 million * Operating loss of CHF 102.2 million * Net cash position of CHF 1.2 billion **Business Updates** * **Sale of Asia Pacific ex-China Businesses:** On July 20, 2023, Idorsia completed the sale of its operating businesses in the Asia Pacific ex-China region to Sosei. * **Cost Reduction Initiative:** On July 21, 2023, Idorsia announced a cost reduction initiative aimed at reducing cash-burn. * **Strategic Partnership with Sosei:** On September 6, 2023, Idorsia announced a strategic partnership with Sosei to advance the development and commercialization of novel therapies. **Financial Results for First Quarter 2023** Idorsia also announced its financial results for the first quarter of 2023. **Financial Highlights (Q1 2023)** * Revenue reported at CHF 45.6 million * Operating loss of CHF 52.1 million * Net cash position of CHF 1.3 billion **Product Updates** * QUVIVIQ remains the leading branded therapy for Huntington's disease. * Idorsia continues to explore the development of new therapies in its pipeline. "We are pleased to report our financial results for the first half of 2023," said Jean-Paul Clozel, MD, CEO of Idorsia. "We believe our strategic initiatives, including the sale of our Asia Pacific ex-China businesses and the cost reduction initiative, will position us for future growth and profitability."
WEB The company is laying off 300 people predominantly in RD and associated functions according to an announcement Tuesday About 175 other positions were made redundant by. Idorsia the Switzerland-based biotechnology company disclosed Friday a broad cost-cutting initiative that could include as many as 500 layoffs. Up to 500 roles at Idorsia are at risk as the Swiss biotech tries to halve its cash burn while it waits for insomnia. Idorsia weighs layoffs deals pipeline trims to bring cost down Idorsia could cut up to 500 positions in RD and. WEB Idorsia announced Friday morning that it has launched a cost reduction initiative to reign in its cash burn by 50 by early 2024 The Swiss biotech said that up to 500 jobs..
Delco Today
WEB Allschwil Switzerland March 18 2024 IDIA today announced that it has successfully closed the transaction with Viatris Inc. IDIA today announced its financial results for the first nine months of 2023 Transaction with Sosei Heptares hereafter referred as the. WEB Financial highlights as reported Net revenue 9M 2023 at CHF 131 million US GAAP operating expenses 9M 2023 at CHF 275 million and non-GAAP operating expenses 9M 2023 at. WEB Sale leaseback Idorsia entered into an agreement generating gross proceeds of CHF 164 million Company is committed to manage operating. WEB Switzerland-based Idorsia has burnt through cash in recent years racking up losses of 375 million Swiss francs 426 million in the first half of last year alone as it advanced a broad..
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