 COPENHAGEN, Denmark, April 14, 2021 GLOBE NEWSWIRE -- Forward Pharma AS NASDAQ:FWP We, Forward or the Company and, together with its subsidiaries, the Group, today reported consolidated financial results for the year ended December 31, 2020. Our net loss for the year ended December 31, 2020 was 6.4 million, or 0.07 per share, versus a net loss of 4.2 million, or 0.04 per share for the year ended December 31, 2019. Our research and development and general and administrative costs decreased from 5.3 million for the year ended December 31, 2019 to 3.4 million for the year ended December 31, 2020. Our net loss for the year ended December 31, 2020 was unfavorably impacted by a significant non-cash foreign exchange loss of 3.0 million that is primarily related to our U.S. Dollar cash holdings and the weakening of the U.S. Dollar compared to the Danish Kroner. We continue to be well positioned financially as we enter into 2021 with cash holdings of 79.1 million and working capital of 78.6 million. We believe we have the financial strength to fund operations beyond 2021 and focus on the oral proceedings before the Technical Board of Appeals that are scheduled for September 6, 2021 after two postponements caused by the ongoing coronavirus pandemic, said Dr. Claus Bo Svendsen, Chief Executive Officer of Forward. 