Switzerland's Valartis Group AG expects its first-half loss to be "slightly higher" year over year.

Valartis expects its unaudited loss for the period to be between CHF300,000 and CHF600,000 under International Financial Reporting Standards, compared to CHF200,000 a year earlier.

The company partly attributed the higher loss forecast to fair-value adjustments on short-term financial investments due to negative market movements.

The company will release its first-half results Aug. 28.