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NOVELION THERAPEUTICS INC.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2019 10-Q, filed May 7, 2019. Its latest SEC filing is a REVOKED from Mar 10, 2023.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Develops and sells medicines for people with rare diseases, including metreleptin and lomitapide.

How Did They Make Money?

Customers pay for metreleptin and lomitapide when products are delivered, typically within 30 to 120 days; the company also earns royalties when sublicensees sell its products and may receive sales-based milestone payments.

FY2018 revenue

Who Were Their Customers?

In the U.S., a specialty pharmacy distributes the medicines directly to patients; outside the U.S., third-party providers deliver them to purchasers or local distributors.

Customers above 10% of revenue, FY2018
of revenue from one customer

Did Revenues Turn Into Profits?

No. It lost $108.3M in FY2018.

Operating income, FY2018
−38% of revenue
▼ −42% (Loss) vs FY2017 (−$86.8M, −63%)
Net income, FY2018
−83% of revenue
▼ −15% (Loss) vs FY2017 (−$126.7M, −92%)
Free cash flow, FY2018
−43% of revenue
▲ +1% (Loss) vs FY2017 (−$55.7M, −40%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q1 FY2019, the three months to Mar 31, 2019
Revenue
▲ +17%
vs $27.5M in Q1 FY2018
  • Jun 12, 2020 Amryt acquired Aegerion as Novelion entered liquidation Novelion received Amryt shares for its creditor claim and planned to distribute remaining shares or proceeds and cash after resolving claims and expenses.
  • Jan 21, 2020 Novelion's voluntary liquidation began and its CFO resigned Michael Price, the company's CFO and sole executive, and two directors resigned with the liquidator's appointment.
  • Jan 3, 2020 Interim CEO resigned Benjamin Harshbarger resigned as interim CEO and general counsel.

From an eye-drug candidate to marketed medicines The older report describes a business centered on developing an oral synthetic retinoid for inherited retinal diseases, with no products approved for commercial distribution. The latest report describes a business selling metreleptin and lomitapide for rare diseases and developing metreleptin for additional uses.

Who Did They Compete With?

Competes with Akcea Therapeutics, Regeneron Pharmaceuticals, Sanofi, Amgen, Eli Lilly &, Alnylam Pharmaceuticals, The Medicines, Gemphire Therapeutics, and REGENXBIO

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