Together Pharma Ltd. said its normalized net income for the first quarter was a loss of 2 cents per share, compared with a loss of 3 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $127,500, compared with a loss of $109,380 in the year-earlier period.
The normalized profit margin dropped to negative 24.0% from negative 18.1% in the year-earlier period.
Total revenue declined 12.2% year over year to $531,000 from $605,000, and total operating expenses totaled $818,000, compared with $825,000 in the year-earlier period.
Reported net income came to $5,000, or 0 cents per share, compared to a loss of $170,000, or a loss of 4 cents per share, in the prior-year period.