May 16, 2007
Losses mount at Framingham drug co.
By Matthew L. Brown
Framingham-based Symbollon Pharmaceuticals Inc. reported a first quarter net loss nearly twice what it reported for the same quarter a year ago.
The women's health care pharmaceutical company reported a net loss of $1.3 million for the quarter compared with a net loss of $548,547 for the same quarter the previous year.
The company said increased development expenses related to clinical trials of its IoGen product, and "investor relations expenses" account for the widening loss.
IoGen is a potential treatment for cyclic mastalgia, ovarian cysts, and premenopausal breast cancer.
The company claimed no revenue for the quarter, but claimed $1.5 million in cash and cash equivalents.
The women's health care pharmaceutical company reported a net loss of $1.3 million for the quarter compared with a net loss of $548,547 for the same quarter the previous year.
The company said increased development expenses related to clinical trials of its IoGen product, and "investor relations expenses" account for the widening loss.
IoGen is a potential treatment for cyclic mastalgia, ovarian cysts, and premenopausal breast cancer.
The company claimed no revenue for the quarter, but claimed $1.5 million in cash and cash equivalents.
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