Idorsia Pharmaceuticals Ltd: Idorsia announces financial results for 2020 - a successful year marked by outstanding clinical data
Idorsia Ltd (SIX: IDIA) today announced its financial results for the full year 2020.
Business highlights
Positive results in the Phase 3 program of daridorexant, demonstrating improved overall sleep and daytime functioning of patients with insomnia
Daridorexant new drug application (NDA) submitted to the US FDA on January 8, 2021
Positive results in the Japanese registration program for clazosentan, demonstrating reduction in vasospasm-related morbidity and all-cause mortality
US commercial operations established, with leadership team in place, and Syneos Health selected as commercialization partner to build the salesforce for the launch of daridorexant in the US
131.2
US GAAP revenue of CHF 72 million in 2020 consisted of contract revenue recognized in connection with the collaboration agreements with Neurocrine Biosciences, Inc. (CHF 50 million), Janssen Biotech, Inc. (CHF 11 million), Roche (CHF 6 million), Mochida Pharmaceutical Co., Ltd (CHF 3 million) and Santhera Pharmaceuticals Ltd (CHF 2 million) compared to a revenue of CHF 24 million in 2019.
US GAAP operating expenses in 2020 amounted to CHF 482 million (CHF 506 million in 2019), of which CHF 381 million relates to R&D (CHF 439 million in 2019), which includes a one-off expense of CHF 9 million as explained in the legal update below, and CHF 101 million to SG&A expenses (CHF 68 million in 2019).
Focus Financial Partners to Release 2020 Fourth Quarter and Full Year Results on February 18 theusnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theusnews.com Daily Mail and Mail on Sunday newspapers.
About Idorsia
Idorsia Ltd is reaching out for more – We have more ideas, we see more opportunities and we want to help more patients. In order to achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.
Headquartered near Basel, Switzerland – a European biotech-hub – Idorsia is specialized in the discovery, development and commercialization of small molecules to transform the horizon of therapeutic options. Idorsia has a broad portfolio of innovative drugs in the pipeline, an experienced team of professionals covering all disciplines from bench to bedside, state-of-the-art facilities, and a strong balance sheet – the ideal constellation to translate R&D efforts into business success.
Idorsia reports results in relation to the Axovan arbitration – claim dismissed by Arbitral Tribunal
Allschwil, Switzerland – February 2, 2021
Idorsia Ltd (SIX: IDIA) today reported the results of an arbitration proceeding between Actelion Ltd (“Actelion”) and the assignee of certain former Axovan shareholders (the “Claimant”) claiming that the acquisition of Actelion by Johnson & Johnson and/or the Demerger triggered the accelerated payment of all outstanding milestones mainly relating to clazosentan (the “Claim”).
Idorsia was notified that the Claim had been dismissed by the Arbitral Tribunal in its final award dated February 1, 2021.
Idorsia remains fully committed to developing and commercializing clazosentan and to paying any milestones, if and when due.