Norwegian biotechnology company Hofseth Biocare (HBC) closed out 2019 in the red again, as its operating loss reached NOK 79 million (€6.7 million/$7.2 million), a 3 percent increase over the previous year.
Gross operating revenues increased around 12 percent to NOK 67.8 million (€5.7 million/$6.2 million) in 2019, however, ordinary operating revenues were lower than expected as the company optimized production lines.
Widening losses were also reported in the year prior. The company is concerned about its ability to sell products at sufficiently high prices going forward.
