Parnell Pharmaceuticals Holdings Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
For the nine months, the company reported revenue of AUD 8,490,393 against AUD 5,477,535 a year ago. Net loss before tax was AUD 5,415,738 against AUD 11,389,321 a year ago. Net loss was AUD 5,417,851 against AUD 14,370,349 a year ago. LPS basic and diluted was AUD 0.41 against AUD 1.43 per share a year ago. The decrease in net loss was primarily driven by re-assessment of previously held provisions, recognition of AUD 3.0 million of income tax expense in 2014 not recognized in 2015 and non-recurring costs associated with initial public offering and debt transactions of approximately AUD 4.8 million in 2014.