April 18, 2019 / 5:25 AM / 3 months ago

Idorsia confirms 2019 spending plan as drug trials advance

ZURICH, April 18 (Reuters) - Swiss biotech Idorsia said on Thursday all four trials of its late-stage drug hopefuls were on track as it confirmed expectations of spending 570 million Swiss francs ($564 million) in the current year on its projects.

In the first quarter, Idorsia's net loss widened to 106 million francs, from 79 million in the period in 2018, as it boosted outlays for projects including prospective drugs for insomnia and Fabry disease. The Allschwil-based company had total liquidity of 1.1 billion francs as of March 31, from 1.2 billion at the end of last year. ($1 = 1.0099 Swiss francs) (Reporting by John Miller; Editing by Michael Shields)

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