Forward Pharma reports $33M net loss

Forward Pharma has reported financial results for the year ended December 31, 2016.

The company reported net loss of $33.3 million for the year ended December 31, 2016. This result represents slight increase comparing to last years net loss of $37 million.

“We made substantial progress in creating shareholder value from our patent portfolio, most importantly signified by the Settlement and License Agreement with Biogen. We also received a ruling in the patent interference case with Biogen and are working diligently to advance the appeal to the Federal Circuit and prepare for the opposition proceeding for our European ‘355 patent in November,” said Dr. Claus Bo Svendsen, Chief Executive Officer of Forward. “Having received the $1.25 billion non-refundable payment from Biogen, we remain in the strongest financial condition in the history of the Company, positioning us to return significant near-term value to shareholders.”