Zogenix, Inc. (NASDAQ:ZGNX) Q3 2019 Earnings Conference Call - Final Transcript
Nov 07, 2019 • 04:30 pm ET
Michael P. Smith
countries in Europe in the coming years. The net loss for the quarter ended September 30 2019 was $290.5 million or $6.75 per share and this compares with a net loss of $42.3 million or $1.08 per share in the third quarter ended September 30 2018. Again keeping in mind that the recorded $249.5 million in-process R&D expense related to the acquisition of Modis and MT1621 is the primary component of those loss amounts. In the first nine months of 2019 net loss was $363.4 million or a net loss of $8.54 per share compared with a net loss of $101.5 million or a net loss of $2.78 per share in the nine months ended September 30 in the prior year with again $249.5 million in-process R&D charge related to Modis being the primary factor in the amount of the loss. We ended the third quarter with cash cash equivalents and marketable securities total $255 million following the use of $175.5 million for the Modis acquisition which occurred on September 6 2019. We remain well capitalized and positioned to execute on our strategic plan to bring FINTEPLA to market as a potential new treatment option for Dravet syndrome and LGS patients and their family and have successfully expanded our late-stage pipeline through the acquisition of Modis and MT1621.
I'll now turn the call over to the operator to begin the Q&A session. Operator can you please provide the instructions?