Nuevolution AB (publ) announced unaudited group and parent earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported consolidated revenue was SEK 8.3 million compared to SEK 1.5 million for the same period a year ago. Operating loss was SEK 22.8 million compared to SEK 29.8 million for the same period a year ago. Net loss was SEK 21.3 million compared to SEK 20 million for the same period a year ago. Loss per share (basic and diluted) was SEK 0.50 compared to SEK 0.68 a year ago. Cash flow used in operating activities was SEK 25.6 million compared to cash flow from operating activities of SEK 53.9 million for the same period a year ago. The revenue for the first quarter of 2018 was primarily related to the license fee from Janssen Biotech with regards to an anti-infective disease target and secondly to deferred revenue from the Janssen Biotech collaboration. The revenue in the same quarter last year came from deferred revenue from the Janssen Biotech collaboration. Loss before tax was SEK 23.2 million in the first quarter of 2018 against a loss of SEK 30.1 million in the same quarter last year. The improvement in both the operating result and net result are primarily coming from the increased revenue. Investments in plant, equipment, fittings and tools were SEK 106,000 against SEK 64,000 a year ago. Investments in financial assets were SEK 28,000 against SEK 9,000 a year ago. The parent company had inter-company revenue in the first quarter of 2018 of SEK 0.4 million against SEK 0.3 million in the first quarter of 2017. The operating loss amounted to SEK 3.3 million in the first quarter of 2018 against an operating loss of SEK 1.4 million in the first quarter of 2017. A net loss of SEK 3.3 million was recorded in the first quarter of 2018 against a net loss of SEK 1.4 million in the same quarter in the prior year. The increase in operating loss and net loss relates to the mentioned increase in costs. Loss before tax was SEK 3,322,000 against SEK 1,356,000 a year ago.