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Actionable news in NDRM: NEURODERM Ltd. ORDINARY SHARES,

Neuroderm Announces Third Quarter 2015 Financial Results

The following excerpt is from the company's SEC filing.

- Company to host conference call and webcast today at 8:30 a.m. ET -

NeuroDerm Ltd. (Nasdaq: NDRM), a clinical stage pharmaceutical company developing drugs for central nervous system (CNS) diseases, today announced financial results for the third quarter ended September 30, 2015.

“We made solid progress in the third quarter developing our next-generation treatments for Parkinson’s disease through subcutaneous administration of the first ever liquid formulation of levodopa/carbidopa to provide a better quality of life for patients suffering from this deb ilitating disease,” said Oded Lieberman, PhD, CEO of NeuroDerm. “We look forward to executing on our streamlined clinical development program and initiating our planned clinical trials in the coming months.”

Financial Results for the Quarter Ended September 30, 2015

Research and development expenses, net were $3.7 million in the three months ended September 30, 2015 compared to $1.3 million in the same period in 2014. The increase was primarily due to production costs related to our product candidates for use in our planned clinical trials and an increase in share-based payments.

General and administrative expenses were $1.2 million in the three months ended September 30, 2015 compared to $0.8 million in the same period in 2014. The increase was primarily due to an increase in share-based payments.

The Company reported a net loss of $1.5 million in the three months ended September 30, 2015 compared to $3.9 million for the same period in 2014. The decrease in net loss was primarily due to the positive impact of changes in exchange rates on our cash balances in the three months ended September 30, 2015, partially offset by an increase in research and development expenses, net. In addition, in the three months ended September 30, 2014 the Company had non-cash financial expenses related to the fair value of our convertible loans, embedded derivatives and financial instruments which were converted into ordinary shares prior to the Company’s initial public offering in the fourth quarter of 2014.

As of September 30, 2015, the Company had cash and cash equivalents and short-term bank deposits totaling $104.6 million.

3 Pekeris St., Rabin Science Park, Rehovot 7670212, ISRAEL. Tel: 972-8-9462729, Fax: 972-8-9461729

The Company is a clinical-stage pharmaceutical company with a limited operating history, has not yet generated revenue from its operations and continues to incur significant research and development and other expenses related to its ongoing operations. The Company is still in the early stages of development of its product candidates. Accordingly, there is no assurance that the Company’s business will generate positive cash flow. As of September 30, 2015, the Company had an accumulated deficit of $141.5 million and its activities have been funded through public and private offerings of the Company's securities and issuance of convertible loans and warrants.

Conference Call Details

NeuroDerm will host a conference call at 8:30 a.m. ET today to discuss the Company’s 2015 third quarter financial...


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