SINGAPORE (May 9): iX Biopharma announced 3Q19 earnings of $7.8 million, compared to a loss of $3.9 million in 3Q18, due to a one-off gain from the disposal of a subsidiary.

During the quarter, the group disposed its entire laboratory testing business held under Chemical Analysis for A$12.5 million, which translated to a net gain on disposal of $10.6 million.  

Revenue increased 254% to $333,000 from $94,000 a year ago, with the group’s specialty pharmaceutical recording a 711% y-o-y surge in revenue, but this was partially offset by a 42% y-o-y decline in the group’s neutraceuticals segment.

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