Symbollon Pharmaceuticals posts losses
Symbollon Pharmaceuticals, a Framingham-based company focused on developing drugs with molecular iodine technology, released its financial results for the third quarter ended Sept. 30, 2006.
In Q3 '06, Symbollon recorded a net loss of $663,043, or a diluted loss per share of $0.07 compared with a net income of $38,395, or a diluted income per share of $0.00, in the previous year. For the nine months ended Sept. 30, 2006, the Company reported a net loss of $1,857,584, or a diluted loss per share of $0.23. Last year, the Company recorded a net loss of $329,307, or a diluted loss per share of $0.05.
The Company cites expenses associated with increased clinical development for its IoGen drug, salaries and related costs as reasons for the increased loss, as well as facility expenses previously allocated to manufacturing, consulting, and other service expenses.
Symbollon hopes to market molecular iodine as a possible treatment for breast cancer. Read more by clicking here.
WBJ Web Partners
Most Recent
Most Recent
0 Comments