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Revenue of USD 8.7 million (Q4 2019: USD 13.7 million)
Operating netback of USD 4.2 million or USD 17.66 per BOE (Q4 2019: USD 9.8 million or USD 35.00 per BOE)
EBITDA of USD 2.7 million (Q4 2019: USD 8.4 million)
Net result of USD -15.7 million, following the previously announced impairment charge of 21.0 million for LAK Ranch (Q4 2019: USD 2.7 million)
Basic earnings per share of USD -0.15 (Q4 2019: USD 0.03)
Diluted earnings per share of USD -0.15 (Q4 2019: USD 0.02)
The Company was awarded new exploration block 70 (Mafraq) onshore Oman
Drilled and completed the Tie-2 well in the Tie Field and spudded the Tie-3 well on 18 December 2020
2P Reserve Replacement Ratio for 2020: 380% (Q4 2019: 147%)
Arcutis Biotherapeutics reported robust business progress in conjunction with its fourth-quarter earnings report on Wednesday, including 18 clinical trials for three different product candidates in the dermatology market.
The Westlake Village biopharmaceutical company, which completed its IPO in January last year, reported a net loss of $34 million (-79 cents per share) for the quarter ended Dec. 31, compared to a net loss of $12.6 million (-$6.13 per share) for the corresponding period last year.
Analysts on average expected a net loss of $38 million (-88 cents per share) for the fourth quarter, according to Yahoo Finance.
Net loss for the year was $136 million (-$3.80 per share) compared to $42 million (-$22.78 per share) in 2019.