Hofseth BioCare lost even more in the third quarter

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Still red numbers for the Norwegian biotech company.

Hofseth BioCare had sales of €2.8 million and had an operating profit (EBITDA) of €0.7 million in the third quarter of 2019.

If nothing else, there is an improvement from the same quarter last year, when the operating profit was -€1.4 million.

In the third quarter, the Midsund plant processed 2,613 tonnes of salmon and trout raw material, while the Berkåk plant produced 281 tonnes of finished protein products, Hofseth BioCare said in a stock exchange announcement Friday morning.

The company, which has seen the money run out for several years, this summer raised €12 million in fresh capital through a rights issue.

The headquarters of Hofseth BioCare is located in Ålesund, and the company has branch offices in Oslo, Chicago, Mumbai, Palo Alto and Tokyo.