NR 08:20 AM EDT, 03/17/2022 (MT Newswires) -- HLS Therapeutics Inc. (HLS.TO), a pharmaceutical company focusing on central nervous system and cardiovascular markets, on Thursday reported, in US$, that Q4 2021 revenue was $15.7 million compared with $16.5 million in Q4 2020. The decrease was due to a dip in royalty revenue -- from $4.6 million, to $2.4 million.
Q4 2021 net loss was $4.2 million, or $(0.13) per share, versus a net loss of $7.3 million, or $(0.23) per share last year. The narrower loss was due primarily to the growth in Vascepa sales, the company said. Vascepa prescriptions grew 19% sequentially in Q4 2021, and 1,710 physicians have prescribed Vascepa, up 25% sequentially and up from 550 at the end of 2020. Also, 6,100 patients have used Vascepa, up 21% sequentially and up from 2,000 at the end of 2020.
Q4 2021 cash generated from operations was $4 million compared to $5.8 million in Q4 2020, while cash and cash equivalents were $21.2 million at Dec 31, 2021 compared with $20.6 million at Dec 31, 2020.
The board declared a dividend of C$0.05 per share to be paid on June 15.
Finally, HLS announced that it is in the final stages of the process for public plan reimbursement of Vascepa and the final outcome is expected within weeks.