Aradigm Corporation announced consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenues were $2,369,000 against $125,000 for the same period a year ago. The increase in revenue was from the company’s adoption of ASC Topic 606, Revenue from Contracts with Customers and primarily resulted from regulatory submission services provided for the New Drug Application (NDA) filing. Loss from operations was $3,205,000 against $7,079,000 for the same period a year ago. Net loss and comprehensive loss was $4,176,000 against $7,937,000 for the same period a year ago. Basic and diluted net loss per common share was $0.28 against $0.54 for the same period a year ago. The decrease in net loss resulted primarily from an increase in revenue of $2.2 million and a decrease in operating expenses of $1.6 million, partially offset by an increase in interest expense of $0.1 million. For the year, the company reported $14,465,000 against $195,000 for the same period a year ago. The increase in revenue was primarily from the company’s adoption of ASC Topic 606, revenue from contracts with customers, which resulted in the recognition of $9.5 million in contract revenue related party associated with regulatory submission and approval of services provided for the NDA filing combined with $4.5 million in contract revenue related party from a change in estimated variable consideration associated with the $5 million regulatory milestone for the NDA filing allocated to performance obligations satisfied in the current or prior periods. Loss from operations was $6,942,000 against $30,022,000 for the same period a year ago. Net loss and comprehensive loss was $10,705,000 against $32,938,000 for the same period a year ago. Basic and diluted net loss per common share was $0.72 against $2.23 for the same period a year ago. Net loss decreased primarily from an increase in revenue of $14.3 million, a decrease in operating spend of $8.8 million related to the completion of the Phase 3 clinical trials for Linhaliq in non-CF BE in the fourth quarter of 2016, a decrease in other expense of $0.6 million in 2017, offset by an increase in interest expense of $1.5 million related to the Note Financing.