Therapix Biosciences (TRPX) Tops Q3 EPS by 14c

Therapix Biosciences (NASDAQ: TRPX) reported Q3 EPS of ($0.57), $0.14 better than the analyst estimate of ($0.71). Revenue for the quarter came in at $0 , versus $0 reported last year.

Financial Summary – Third quarter 2017 vs. third quarter 2016 (Note: The functional currency of the Company is New Israeli Shekel; for presentation purposes, the financial data herein is presented in USD):

• Net loss of $1.03 million, or $0.30 per ADS, for the three months ended September 30, 2017, compared to a net loss of $0.54 million, or $0.57 per ADS, for the three months ended September 30, 2016. For the nine months ended September 30, 2017, net loss of $3.53 million, or $1.31 per ADS, compared to a net loss of $1.58 million, or $1.73 per ADS, for the comparable period in 2016. The third quarter 2017 net loss included $80,000 of income due to exchange rate differences on balances of cash and cash equivalents (classified as finance income), versus $10,000 of expenses incurred during the corresponding period in 2016.
• Research and development (\"R&D\") expenses amounted to $0.34 million for the three months ended September 30, 2017, compared to approximately $0.22 million for the three months ended September 30, 2016. For the nine months ended September 30, 2017, R&D expenses amounted to $1.03 million, compared to $0.59 million for the comparable period in 2016. The increase in R&D expenses for the third quarter 2017 resulted primarily from higher expenses in connection with the clinical trials, which was partially offset by a decrease in chemistry and formulation studies.
• General and administrative expenses (\"G&A\") amounted to $0.77 million for the three months ended September 30, 2017, compared to $0.34 million for the three months ended September 30, 2016. The increase resulted primarily from a rise in salaries and benefits, investor relations and business development activities, as well as professional and directors\' fees. These increases were the result of an increase in the number of employees and professional contractors, as well as costs associated with becoming a publicly traded company on NASDAQ.
• Cash totaled $10.7 million as of September 30, 2017, compared to $11.8 million as of June 30, 2017. The decrease in cash primarily resulted from increased R&D and G&A expenses as detailed above. The Company currently believes that its cash balance will be sufficient to maintain its current operations into the third quarter of 2018.

For earnings history and earnings-related data on Therapix Biosciences (TRPX) click here.

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