February 6, 2020 / 6:30 AM / 19 days ago

Idorsia 2019 loss widens as Swiss biotech pushes pipeline

ZURICH, Feb 6 (Reuters) - Swiss biotech Idorsia said on Thursday its full-year net loss widened as spending on development of prospective medicines including its insomnia drug DORA continued.

The net loss in 2019 was 494 million Swiss francs ($507 million), up from 386 million francs in the previous year, the company said. Idorsia ended the year with 739 million francs in liquidity, which the company reiterated would not be enough to get to break even.

"We will need additional funding to bring our products to market, but we are fortunate in having several unencumbered assets in clinical development with key results in the near future, as well as financing options available to us," Chief Financial Officer André C. Muller said. ($1 = 0.9746 Swiss francs) (Reporting by John Miller, editing by Kirsti Knolle)

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